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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Do you have a question about Carfinance247 or its services? If so, please complete the form below for a response within 1 working hours. I have over 7 years experience working for Carfinance247 and have the responsibility to answer all questions asked.

Car Finance for Retired People

Hi, Both my wife and I are retired pensioners in our 60s, we are on a fixed joint income of about £ 22000.00 per annum. We are home owners with no mortgage. Would we qualify for a car loan? Regards, Ken

Posted by John Patrickson on

Answer.

Hi Ken, thank you for your question. As long as your credit history is clean we will be able to get you approved for car finance and at a good rate to even though you and your wife are retired. How much are you looking to borrow and over how long? Regards, Edwin

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Question.

Hi Edwin, Thanks for your reply. Our credit history is A1 and the ammount would be between £6000 & £8000 over 5years. but it would depend on the monthly ammount. We are after a 08 or 09 Ford Fiesta Zetec 5door 82bhp.

Posted by John Patrickson on

Answer.

Perfect Ken, we have access to lots of high quality Ford Focus' too. Please make an application online or call 0800 019 7180. What part of the country are you in?

Posted by on

Question.

Can we get car finance although we are retired and living on pensions? We really need to change our car!

Posted by Richard Howard on

Answer.

Hi Richard, yes you can obtain car finance even though you are retired as long as you have a good credit record/history. Is this the case? Kind Regards, Edwin

Posted by on

Question.

Can i get finance if i have retierd and am on benefits?

Posted by Janet Marrison on

Answer.

HI Janet, if you have a good credit rating then we'll be able to help. If you have a fair / poor credit rating then unfortunately we won't be able to help. Kind Regards, Edwin

Posted by on

Question.

Hi, I'm a retried person and i have just sold my house to move into a rented house. I have no debts and I lent all my money from the sale of my old house to my nephew. Would I be able to get finance?

Posted by Daniel on

Answer.

Hi Daniel, as long as you have a good credit history we'll be able to get you approved for a car loan. Please apply on our website and we'll be in touch asap. Kind Regards, Edwin

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Question.

Hi, I'm 43 and medically retired on benefits and have a small personal pension totalling£12000 a year. My experian rating is fair and i'm looking for £5000 over 5 yrs for a Landrover Defender.

Posted by Darren Bambrough on

Answer.

Hi Darren, as long as you have a good credit history we'll be able to help you with no problems at all. Is this the case? If not we may struggle as all our fair / poor credit lenders need to see proof of income. Kind Regards, Edwin

Posted by on

Question.

I have a couple of defaults but no ccjs and my experian score is 795 and rated fair. The bulk of my income is benefits.

Posted by Darren on

Answer.

Hi Darren, the defaults may cause us an issue here as the lenders we can get you passed with need you to have an excellent credit rating. How long ago did you get the defaults? Edwin

Posted by on

Question.

Hi, I just checked my experian score and it's now 907 and rated good. The defaults were 01/11/2008 and 30/04/10.

Posted by Darren on

Answer.

Thanks Darren for the extra information. We should hopefully be able to get you approved. Please apply on our website www.carfinance247.co.uk

Posted by on

Question.

Hi. I've been turned down everywhere for car finance. My mother is retired but would be willing to act as guarantor. How do i go about this?

Posted by Mrs Mckinnon on

Answer.

Hi Mrs. McKinnon, when making an application on our website you have the choice to make it a joint application. This is where you can add your mother on as a guarantor. It doesn't matter that she is retired. Where have you applied online and been declined? Edwin

Posted by on

Question.

I've tried mostly everywhere including the guaranteed finance for bad credit places.

Posted by Mrs Mckinnon on

Answer.

I understand. We do still have a chance though with your Mum as a guarantor and the fact that we have the most sub-prime lenders in the market on our panel :-)

Posted by on

Question.

Hello, i'm looking to finance a car at £36,995, with a deposit of £16,995. The loan calculator won't let me work this out with the deposit, I don't mind not putting a deposit down, this is irrelavent, however thought a sizeable deposit would be beneficial. I have an impeccable credit history and i own my house outright. I am a retired gentleman so i have no proof of income, can you see this being a problem, thanks Ken.

Posted by Ken on

Answer.

Hi Ken, Without proof of income we would need you to have near on perfect credit in order to be approved. If this is the case then please make an application so we can get you into that vehicle! Thanks Edwin

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Posted by Steve Jones on

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I am 74 and have a private and state pension. Will I be able to get credit on a car of approximately £5000 over four years? I do have a property in Scotland with no mortgage. What will the repayment be?

Posted by Beryl hale on

Answer.

Hi Beryl, Thank you for your question

The fact that you own a property is great, and should help your application. Repayment amounts will vary dependent on your credit history. Provided you have good credit, we can try our best to help you!

Please make an application when you're ready and if approved we provide a no obligation quote and you can buy a car from any dealer. Kind Regards, Edwin

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