How should a retiree apply for a car loan?

I'm 66, retired, and looking for a moderately priced car. How do I apply for a loan?

Retirees should approach auto lenders with their income documentation and a copy of their credit score. Most lenders are willing to work with people who have retirement income such as Social Security, IRAs, and pensions.
Retired loan applicants should always shop around for a lender that is offering the best terms. There is no need to feel obligated to accept a short-term loan based on age, but a short-term loan can also mean a lower interest rate.
Johnny Puckett
Answered on Mar 12, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.

Did this answer help you?

Ask us a question by email and we will respond within a few days.

Have a different question?

You can meet us at our office and discuss the details of your question.

Read advice from car experts at Jerry

Easiest way to compare and buy car insurance

No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
Find insurance savings — it's 100% free