Credit for driving license Opportunities, tips & costs

How to finance your driver’s license with a loan Driving lessons and exam fees are quite expensive. If parents or grandparents are unable to help, there are various ways to take out a loan for the driver’s license. Who actually writes and advises here? About us On this page Driving license costs Where can I get the loan? Installment Loan Framework Credit Special Loans Criteria for Credit Directly compare loans

Cost of driving license / class B

Cost of driving license / class B

Post costs
Basic fee driving school 200 USD
teaching material 50 USD
Standard driving hours (25 to 30) 825 – 1,000 USD
12 special trips (3 x night, 5 x overland, 4 x motorway) 500 USD
examination fees 200 USD
driving license application 35 USD
Eye test, first aid course, passport photos 40 USD
TOTAL 1,850 – 2,025 USD

The exact costs differ from state to state and from driving school to driving school. An important cost factor is also the number of regular driving hours, which can quickly increase if the driver learns flat.

Where can you get a driver’s license loan?

Where can you get a driver

Many learner drivers have put aside some money for their driver’s license or have received a grant from parents or grandparents. If no financial reserves are available, the search for suitable driver’s license financing can become a challenge. After all, many license applicants still go to school or are in training and do not meet the requirements for an installment loan from the bank. Nevertheless, driver’s license financing by credit is not completely excluded.

Use the free loan comparison to find the cheapest loan for your driver’s license.

Installment loan to finance driver’s license

Installment loan to finance driver

At a branch bank or direct bank, learner drivers can take out an unspecified consumer loan. A small loan with a loan amount of between 1,000 and 5,000 USD is usually sufficient for the driver’s license. The loan will be repaid in monthly installments including interest over a previously agreed term.
Requirements for a loan from the bank If you want to apply for a bank loan for your driver’s license, you have to meet several requirements. Borrowers must be over the age of 18, reside in Germany and have a fixed income. Most banks require permanent employment with a probationary period and a certain minimum income. In order to check the solvency of the applicants, credit institutions also obtain Credit Bureau information.

This is how learner drivers under 18 get a loan

Learner drivers under the age of 18 do not receive a loan from the bank. In this case, the parents must submit the loan application. Schoolchildren, students and trainees over the age of 18 can apply for an installment loan if they use a parent or other solvent relative as a second borrower or as a guarantor. The same prerequisites apply to guarantors as to borrowers: they should be in permanent employment.

Having a second borrower or guarantor not only improves the chances of getting a loan. Young borrowers also benefit from better conditions. Most banks calculate the credit costs based on the default risk. The higher the borrower’s solvency, the cheaper the loan.
Compare loan offers for driving license Before you apply for a loan for the driver’s license, a comprehensive comparison of different loan providers is recommended. The conditions of the individual credit institutions differ greatly from one another. Direct banks generally charge slightly lower interest rates than branch banks. A loan from the house bank, on the other hand, can offer other advantages, such as more flexible repayment methods. An independent loan comparison shows you which loan best suits your situation. To do this, use our credit comparison calculator in the upper section.
… More about credit

Driver’s license financing via credit line


A credit line or call credit is a hybrid form of overdraft facility and installment facility. Similar to an overdraft facility, the bank grants a certain line of credit up to which money can be borrowed, but at significantly lower interest rates. The credit line is also independent of the checking account. You are not tied to your house bank, but can apply for the on-demand credit from a bank of your choice.

A framework loan is particularly suitable for driver’s license financing due to the flexible payment and repayment options. The loan amount can be set individually, for example at 3,000 USD. You do not necessarily have to use the entire amount, but call up what you need. Interest only applies to the amount actually called up. Some banks require monthly minimum installments for repayment. With other banks, you can choose the installment amount or pay back the money in one fell swoop.

There are also certain prerequisites for a credit line: borrowers must be over 18 years old, have their own income and have a sufficient credit rating. Driver license financing by means of a credit line is therefore suitable for older learner drivers with a fixed income.
Agree payment in installments with the driving school

Some driving schools offer the so-called “driver’s license on installments”. As a rule, you first pay the basic fee in one sum. You only pay regular driving hours and special driving hours when you complete them. At the end there is still the examination fee.

The “driver’s license on installments” gives learner drivers the opportunity to save money between driving hours. In addition, the driving schools do not require proof of income or Credit Bureau information. Payment in installments is also suitable for learner drivers who are not yet of legal age. However, if you have to save money for every hour of driving, it may take a long time before you hold the driver’s license in your hand.

Special driver’s license loans

Special driver

Many driving schools now work with credit institutions and offer their driving students special driver’s license loans. The small loans brokered in this way hardly differ from a conventional installment loan. However, processing is usually carried out entirely by the driving school: you hand in your application and all the necessary documents to the driving school and also transfer the credit installments to the driving school, not to the bank. Legal age and sufficient creditworthiness are also required for a special driver’s license loan.

Criteria for a credit for the driver’s license

Criteria for a credit for the driver

When choosing a loan for the driver’s license, you should first consider the loan amount, the term and the amount of the installments. Better set the loan amount a little too high than too low. Otherwise you will end up missing a few hundred USD for your driver’s license.

The rate is reduced for loans with a longer term. However, more interest accrues over the longer term. Calculate the rate so that you have enough money to live in the month and you can also set aside something for unforeseen expenses.

To compare the cost of credit, use the APR. In contrast to the borrowing rate, the annual percentage rate also takes all ancillary credit costs into account.

Loans that offer a flexible and free option for special repayments are advantageous. Once you have more money available, you can pay back a higher sum in one fell swoop. This will shorten the loan term and reduce the total ctotal costs.

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