Actually, one should be able to assume that after a busy and long working life, a well-deserved and well-funded retirement awaits. But many retirees are financially not well placed, so that a loan despite pension is always a topic.
When is a loan required despite a pension?
Credit despite pension – that’s how it works
In our time, unfortunately, it is no longer the case that every retiree can live well from his pension. Despite the fact that many have worked for a long time, many pensions are so low that they just come to life.
Additional expenses, such as for a vacation, a new car, furniture or other important issues are hardly in it. With a loan despite pension then the financial hole should be closed and the important purchase made.
However, many banks are struggling to lend to retirees. This is not exclusively due to the pension received. It is also due to the age of the pensioner. This is classified critically, so that many retirees do not benefit from a loan. However, there are ways to circumvent the hurdle. What these are, we want to show here.
Simple financings, such as for a television or furniture, can be made relatively easily by retirees at a dealer of their choice. The dealers are only partially based on the rules of the big banks and can therefore be deterred neither by pension payments nor by the age of the potential borrower.
More importantly, the installment payments arrive on time so that the purchased goods do not have to be seized. These are considered security, which proves to be an advantage.
With consumer credit, many retirees are able to finance at least small purchases without support. For larger purchases or items that can not easily be financed through a dealer, this looks a little different.
Pure installment loans, directly from the bank and without a fixed purpose, will most likely only work if they are taken up with the help of a younger guarantor. Jünger therefore, so that the guarantor can show a fixed income and a lower age than the actual borrower.
Many sufferers ask for a loan despite pension their children and ask them for support. They bring the right age and close family ties with them. Optimal conditions to be able to use favorable loan offers with flexible repayment modalities.
This should be considered
Even though there are ways to take out a loan despite retirement, every retiree should ask whether the loan is really necessary. Furthermore, the loan amount should always be aligned with the pensioner’s age.
An 80-year-old should not expect a 20000 euro loan, which should be repaid over 10 years. Even if he still feels fit and healthy. However, if you make sure that the loan amount is not too high and the term remains manageable, you will also be able to find good loan offers at retirement age.
For the search for the suitable offer our credit calculator should be determined. It shows which monthly rates can arise for the individual loan sums in combination with the term.
So the selection is easier and the desired credit meets all requirements.