Finance a garage with a loan

A garage offers many car owners a wonderful relief: In winter this eliminates the ice scratching and in summer you are not sitting in a hot vehicle. However, a garage is a rather expensive investment, but it can be repaid with the help of a loan.

Cost of a garage

Cost of a garage

Depending on the type of garage, the costs vary considerably. However, must be expected here with several thousand euros.

The construction of a garage consists of the construction costs as well as the material for the foundation and the garage. Depending on what type of garage it is, the total cost varies significantly.

For example, in the cheapest variant, a sheet metal garage without plaster with an amount between the 3,000 and 5,000 euros to be expected. If, on the other hand, it is a sheet metal garage with plaster, the costs range from 4,000 to 6,000 euros. The popular wooden garages, on the other hand, account for between 4,000 and more than 5,000 euros, while a ready-to-use garage costs around 7,000 to more than 8,000 euros. The most cost-intensive variant is a brick garage, which beats at the 9,000 to more than 1,000 euros . However, these are only rough guide values ​​that can vary significantly.

Nevertheless, these amounts quickly make it clear that a garage construction generally strains its own current account significantly. Accordingly, it makes sense to take a loan for this purpose.

Borrowing for a garage construction?

Borrowing for a garage construction?

The construction of a garage is worthwhile for several reasons. For example, the project also ensures that the value of the house is increased. To take a loan for this is definitely recommended.

A garage is a sturdy construction, in which usually after many years, nothing needs to be changed. For this purpose, it is used daily to store the car in it, so that is ideally protected from wind and weather. Furthermore, the construction of a garage is also an increase in the value of your own property . In addition, garage vehicles, as cars, which are usually parked in a garage, rewarded in the motor insurance with a cheaper contribution.

Accordingly, the construction of a garage is a very good investment, which is worthwhile and for the very good conscience a loan can be taken.


Instead of a garage, it is also possible to build a carport. Although the shelter protects against the weather but it is not feasible to complete this.

As an alternative to the construction of a garage offers a carport. However, this is not a completely enclosed construction: a carport can be either completely or partially open.

The construction of a carport is much cheaper, but it is not lockable and the car is therefore in a sense “free”; but is still protected from the various weather conditions.

mortgage loan

mortgage loan

Most of the time, banks lend out mortgages only when they are large sums. If, in addition to the garage construction, for example, a home purchase or other measures are pending, such a loan is recommended.

Under certain circumstances, a mortgage loan may be worthwhile for the construction of a garage. However, such a loan is given by many banks only from a higher amount. In most cases, these are sums of about 40,000 to 50,000 euros.

Because of this, such a loan is often only feasible for the construction of a garage if, for example, at the same time a house is purchased or the various other projects are to be carried out around their own property.

Since the mortgage loan, as the name implies, is secured by a mortgage, the borrowers benefit here but from quite favorable interest rates. So if action is needed and a garage is built, such a loan can be a good solution.

installment loan

A classic installment loan is usually used to build a garage. This is paid off easily in monthly, constant installments.

Alternatively, however, also offers an installment loan. This does not require the inclusion of such large sums as a mortgage loan. In addition, this is a purpose-based loan, which is thus available as desired. A installment loan is generally very popular for garage construction.

Here, not only the loan amount, but also the monthly constant rate as well as the term are agreed with the bank within a certain framework. The installments are then paid monthly, usually at the beginning of each month. With the payment of the last installment the loan is completely paid off.


In order to obtain a loan, it is essential to fulfill the most diverse requirements. This includes, for example, a secure, fixed income. Alternatively, a guarantor or a second borrower are available.

However, in order for the banks to lend, the prospective borrowers must meet some requirements. In addition to a positive information from the bank, this also means a good credit rating. Furthermore, a regular, secure income is necessary. In addition, the banks usually require a German checking account as well as a German residence.

However, it is sometimes the case that the applicant unfortunately fails to meet one or more of these requirements. In that case, it is usually relatively difficult to obtain the required credit. However, there are two exceptions: if there is a guarantor or a second borrower who meets the various requirements, lending is usually not a problem.

Compare loan offers

Compare loan offers

It is best if the various offers of credit institutions are initially compared well with each other. In this way, you can certainly get a cheap deal, so a lot is saved.

Usually, the bank is the first port of call for a loan request. However, it is advisable to first take a closer look at the various offers from the various banks. Because there are often significant differences here. Even differences in percentages can amount to a difference of several hundred euros, depending on the loan amount. If you compare well, you can save a lot.

The ideal annual comparison factor is the annual percentage rate. Because unlike the nominal interest, the APR already includes all costs.

In addition, it is also advisable to look around not only for interest rates, repayment installments and the like, but also for the various special services offered by the banks. These include, inter alia, a variable interest rate sier in the “case of a fall” and without risking the payment of the loan installment.

Accordingly, the construction of a garage is then nothing then in the way, so that in the near future, the car can be well protected protected.