Loan despite ZEK 03 credit score

The bank which I used to borrow from had the ZEK give me a 03 credit score. As far as I know that score is supposed to mean that payments were not made on time. The things is, I repaid the loan in full and have not owed money to that bank in 3/4 of a year.

Now on to my question: Is there any way that I can lease a car or get an auto loan? So far my applications have been rejected. But besides that annoying ZEK score, I meet all criteria as a good borrower (enough income, solid employment). I'd be thankful for any advice you can offer.

Hi there,

The 03 ZEK code indicates delayed payment of loan repayment installments, particularly when warning notices were issued. This score remains on your credit history for 3 years.

The ZEK does not check into whether or not reports filed by creditors are correct. If you notice incorrect information on your credit report, contact the creditor which reported the incident to the ZEK. Ask them to request that the ZEK remove this incorrect entry from your credit record.

Note that buying a car using a personal loan is usually a better financial move than leasing a car. Some lenders provide loans in spite of a ZEK 03 entry, although you will likely get a steep interest rate. You can find all major Swiss lenders in the moneyland.ch personal loan comparison. Contact the lenders and ask them whether they would give you a loan despite your ZEK rating.

Just make sure not to apply for loans until you have received a guarantee of acceptance from a lender. Having an application rejected will further damage your credit history.

Best regards from Moneyguru

More on this topic:
Introduction to the ZEK Swiss credit bureau