for this vehicle. As a general rule, most banks and other lenders won’t extend a car loan if the vehicle is over 10 years old or the car has over 100,000 miles. Since your Milan meets these qualifications, the car itself won’t prevent you from getting a loan.
That said, you’ll still need the right qualifications to be approved for the loan. You’ll need a steady income and a decent credit score to secure a car loan. A great way to make sure you qualify is by seeking preapproval.
Once you get approval or preapproval, put some time into shopping for car insurance. You’re going to need full coverage car insurance because of the stipulations in your loan, so budget accordingly. Use the
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.