Can a retired person without a regular income but good credit get a auto loan?

A car is deemed a necessity, so it is easier to get a loan than it would be for something like a Motor home which is considered a luxury. Buy Here-Pay Here is an option on the east coast, I haven't seen them on the left coast. You will usually have a much higher interest rate.

What do you think is good credit? Do you have a recent history of paying on time? That helps a lot. Can you do 20% down to show you are invested in the loan? Do you have a personal relationship/account with a credit union? That might be a better place to start. Good luck :)

Can a retired person without a regular income but good credit get a auto loan?

Most banks and loan companies are going to want you to show a means of paying back the loan. If you don't have a regular income from Social Security or some other source, then you may have a problem.

Can a retired person without a regular income but good credit get a auto loan?

PROBABLY SO. THERE ARE MANY %26quot;BUY HERE PAY HERE%26quot; CAR LOTS. THEY HOLD THE TITLE, AND IF YOU DEFAULT ON THE LOAN, THEY REPO THE CAR.

Can a retired person without a regular income but good credit get a auto loan?

it wont be that easy if you dont have a regular monthly check, but a good down payment and good credit go along way, you may need to have some proof of income for whatever it is you do make, all in all you should be able to get it done at a regular dealer and not have to go to a buy here pay here chop shop, or a special credit acceptance place

Can a retired person without a regular income but good credit get a auto loan?

Actually if you have good credit it is very easy to get a loan without income. I have financed many individuals that were retired.

It does directly depend on your credit rating and history though. You could have a great credit score, but if you are looking at a 20,000 car and your max credit history is only five thousand, the bank will look more deeply into a pproving you, or if you haven't used your credit in so many years.

However, if you have a strong credit history with score, any dealer can get you approved, I shouldn't say this, but because of a strong credit I have even seen dealers make up a job for someone that doesn't have to be verified, just because of credit strength