If you're a pensioner and in the market for a car loan, you may
have thought it would be impossible. Many People (Pensioners are
not just retirees) don't even explore the possibility since loans for pensioners are
known to be tough to come by. The majority of lending services will
take one look at your income and stamp a big NO on your application
without a second thought. If you want a new car, you're going to
have to head to the dealer with a whole lot of cash in your pocket.
Since most car prices are beyond the income reach of your pension,
this leaves you between a rock and a hard place.
Fortunately for pensioners nationwide, some car loan services take a different attitude when it comes to car loans for pensioners.
A Different Theory on Loans
Some lender services are more inclined to offer loans for pensioners than others. If you're on benefits with limited income, you need to find a lender who looks beyond just the bottom line. You need a lender who understands that people lead different lifestyles, have diverse ways and means of income, and have been through different life situations. Just because you're a pensioner on limited income doesn't mean you should be automatically disqualified from a loan.
Unlike the traditional method of loan decision-making where the lender looks at the bottom line only, these days some lenders are taking a different approach that is much more forgiving. Instead of stamping that NO on your application, these lenders will assign a caseworker that will work with you every step of the way to make sure you get the loan you need. These lenders no longer treat customers like numbers, working with each as an individual in order to secure the loan they need.
Finding The Right Lender
As a pensioner with limited income, getting the loan you need for the car you want isn't an impossible task. You just need to find the right lender. You want a lender who will treat you as an individual as opposed to just looking at your bottom line. You want a service who will work with you to make sure you receive the loan you need, taking into account your financial situation and working out the details to get you approved. Fortunately for you, these lenders are out there.
To find the right lender, you just have to do your research. Talk to your fellow pensioners to see if they've had good loan experiences with lenders. You'll be surprised at the amount of great feedback you'll receive from your peers. Many will have already received loans for the cars they wanted and be ready to offer advice and point you out to the right lender. Check out lenders such as www.carsonterms.com to see if their lending services will be right for you.
Fortunately for you, loans for pensioners are not only not impossible, but are firmly within your reach with the right lender.
Cars On Terms helps you get your car loan even you are a bankrupt, student or retiree. They are located in Brisbane, Queensland, Australia.