Blog BP 1300x400 04122023

As with all car subscription providers, Carvolution also carries out a credit check before a car subscription is taken out. A credit check is not a bad thing - on the contrary, it serves to protect both our customers and our company. To ensure that the credit check runs smoothly and no questions or uncertainties remain unanswered, here are the most important points.

What is a credit check?

A credit check is a standardised check that aims to minimise financial risks for individuals and companies. Various factors are taken into account to ensure that both the customer and the company are in good financial standing. The audit includes:

  • Payment history: checking for payment defaults due to payment difficulties in the past.

  • Financial incidents: Analysis of debt collection proceedings, debt collection cases, loss certificates, insolvencies or other relevant events.

  • Outstanding payments: Recording of outstanding payment obligations.

Why is a credit check important?

The credit check protects both you and us. We refrain from entering into contracts if a payment default is likely later on. And a credit check protects you from entering into financial obligations that you cannot honour later.

Company protection: Protection against payment defaults to ensure a stable business relationship.

Customer protection: Prevents people with existing payment difficulties or deteriorated creditworthiness from entering into further financial obligations.

What information is required?

For the credit check, we usually require basic information such as name, address and date of birth. At Carvolution, we work together with renowned partners such as CRIF and Crediweb. All information is of course treated confidentially.

For people who have recently moved to Switzerland and therefore do not yet have sufficient information on their payment behaviour in Switzerland, we require additional documents. The same applies to people under the age of 25. Here, for example, we need the current employment contract, the last three salary statements and an extract from the debt collection register covering the places of residence for the last three years.

What happens if my credit rating is not perfect?

If your credit rating is not impeccable, we will either inform you with a cancellation or, in borderline cases, offer you the option of submitting further documents and, if necessary, taking out a car subscription with a deposit payment. Borderline cases are, for example, credit checks for an event that only affects a small amount and is further in the past.

What happens to my data during the credit check?

Your data will be treated confidentially at all times and in accordance with our data protection regulations. We also attach great importance to making the credit check transparent and fair and therefore adhere to defined guidelines.

If you have any questions or uncertainties about the credit check, our team will be happy to help you at any time.

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