Just because you’re out of the workforce doesn’t mean you should be automatically disqualified from getting any credit facility. After all, you can use your pension benefits to service any type of loan, including a car loan. Pensioner car finance is available to any retiree who gets regular pension payments. The requirements for the loan are the same as those of working consumers. The only difference may be the need to prove that you have a pension plan which has matured.
Obviously, the first thing you need to do is find the car you want to buy and obtain a quote. Next, approach your local bank, credit union, or even the dealer, to have you auto finance application approved. Since you may only have one source of income, which is also fixed, it is crucial you buy a car you can afford and negotiate the lowest possible interest rate as well as the longest possible loan term to ensure you pay low monthly installments.