If someone turns their backs on working life due to old age, it does not mean that a pensioner does not want to experience anything anymore. Then the pensioner has time to devote himself to his hobbies or to go on trips. Since the pension payment is less than the salary that was previously earned, you cannot afford everything.
If a car is needed so that you can stay mobile and do not always need help, the money may not be enough. In this case, a car loan can help pensioners to finance the vehicle.
Car loan for pensioners from the house bank
First, the pensioner should try to get a car loan for pensioners from his house bank. The account may have been in this bank for years or even decades, so the bank already knows the borrower in advance. A look at the computer is often enough to approve or deny an application. If an application is not approved, the pensioner can use his child or grandchild as a surety if he is older than 18 years.
The bank can then assume that the pensioner will no longer be able to make the payments or that the loan will continue to be paid. The advantage of a car loan for pensioners at the house bank is that the money can be withdrawn in cash and the vehicle can be picked up in cash from the car dealer. This gives the pensioner additional discounts, the car dealer rewards cash payers with attractive offers.
Apply for a car loan from the car dealer
Nowadays it is possible to apply for a car loan directly from the car dealer. Almost all of them work with banks that specialize in this loan. The customer can choose a vehicle on site and knows immediately which loan amount to take out. The dealership takes care of the formalities. Account statements and pension notices often have to be submitted here. If the applicant is too old, a guarantor can be used again.