Car Loans for Retirees
You have worked for most of your life and now you are retired; now you finally get to enjoy your time doing the things you want, buy the things you want to buy. Whether the vehicle is to get you from place to place or it is now the time for you to buy the car you always wanted, retirees often stumble into a vehicle purchase. After retirement, obtaining a car loan is no longer a tough task. It is all a matter of aligning the numbers together. The requirements of obtaining an approval for a car loan are no different for a retiree to a working person. Affordability and credit status are still main focal points to the lender.
What are things I need to the approval? Now that lenders recognize CPP as a garnish-able income, although retirees are no longer employed, they still have income to prove that monthly payments can be made. Another helping factor is by preparing for a down payment if you are would like to broaden your vehicle options. CPP for disabilities are also taken into account.
Just because you retired, it does not mean that you can no longer do the things you want to do. If you would like to finance your retirement vehicle, give Autorama a call allow Autorama to provide you with the approval you are entitled to with one of the many prime lenders that we work with by giving us a call at 1(866) 979-2947 or fill out an online finance application.