Monthly Archive: December 2019

Car Loan for Pensioners

If you decide to buy a car, you usually have to finance it. In the case of a new car in particular, the financial expenses for the purchase are so high that hardly anyone can pay out of their own pockets.

Many banks offer suitable financing options, so there are no problems from this side and the selection of offers is quite extensive. And as far as you can meet all requirements regarding creditworthiness, there will hardly be a bank that refuses such a loan. Finally, the car to be financed can be taken as a deposit, which represents a very high level of security.

Pensioners are the exception

Pensioners are the exception

It looks a little different with pensioners. When looking for a car loan for pensioners, the bank not only looks at the creditworthiness and the collateral, but above all also at the age of the applicant. Because that plays a big role in lending. If you received the current pensioners with open arms during their working life and gave them everything they wanted from a bank financially, the same people are now classified as unworthy of credit because of their age.

It becomes particularly bad if you want to take out a car loan for pensioners at 70 or even 75. Statistically, life expectancy is then no longer quite as high and a default in repayments is likely. The banks then very often reject the car loan for pensioners. Remedial action can only be taken if you can name a significantly younger guarantor. Happy to have your own child or even grandchildren. It is important that the guarantor is not yet retired and that he has a good income and a good credit rating.

That should be noted

That should be noted

A car loan for retirees is therefore about significantly improving the conditions for the loan. A young guarantor, a short term and a manageable loan amount can help. It is also worth comparing several offers with each other and not just asking the bank about the loan. Most of the time it is the direct banks that are much more flexible and agree to a car loan for retirees faster.

Credit for motorcycle – How to find the best one

Motorcycles are not just a means of getting around, they’re a real hobby. Hours of tours, biker meetings, exhibitions and races make motorcycling very popular with many people. If you long for your own motorcycle and want to buy the model of your dreams, you can take out a loan. After all, most motorcycles are too expensive to be able to finance them yourself. With a motorcycle loan it is possible to buy the desired model immediately and at the same time benefit from attractive discounts.

Motorcycle loan – what are the conditions?

Motorcycle loan - what are the conditions?

As with any other loan, you also have to meet certain requirements when you borrow a motorcycle. This includes a permanent job, a regular and sufficiently high income and a good credit rating. If you have had no problems with debt so far and meet all conditions, nothing will stand in the way of borrowing. The great advantage of a loan is that you can pay the motorcycle in cash at the dealer. This makes it possible to negotiate considerable discounts and buy the desired model at a much cheaper price. Merchant financing is usually not advantageous and much more expensive than taking out a loan from the bank.

How To Find The Best Motorcycle Loan

How To Find The Best Motorcycle Loan

Of course, favorable conditions are also important for motorcycle loans that suit you and your life. Low interest rates, low monthly installments and long, flexible terms are the secret of successful borrowing that does not lead to over-indebtedness afterwards. Before you decide on a particular loan, you should do a comparison on the internet. You will see that online banks are much cheaper than traditional branch banks.

Apart from that, you have better comparison options with online credit and benefit from faster processing. If the creditworthiness is sufficient, you will receive a loan approval just a few hours or days after the application has been submitted. So you can soon fulfill your dream of a new motorcycle and do not have to put up with long waiting times.