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Best way for me to finance my next car? I am 72 and don’t want to own it.

Home Forums Car finance Best way for me to finance my next car? I am 72 and don’t want to own it.

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This topic contains 1 reply, has 2 voices, and was last updated by Stuart Masson Stuart Masson 2 weeks ago.

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  • #171551 Reply
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    Colin Lowth

    I currently own a 62-plate BMW 1 Series hatch, 77k, 15/16k miles p.a. My house mortgage expires in 2 years’ time and I want to change it for a new (or low mileage) Fiesta-type petrol or hybrid car. But I don’t want to own it at the end of its finance agreement, as it will likely be my last car.

    What are my options for finance, and how much is my outlay likely to be?

  • #171763 Reply
    Stuart Masson
    Stuart Masson
    Keymaster

    Hi Colin. Most car finance applications require proof of income, so you will need to show that you have sufficient recurring income to cover the payments – most 72-year-olds are no longer working so this can be tricky.

    If you are taking out PCP car finance or a lease (contract hire), you can give the car back at the end of the agreement.

Reply To: Best way for me to finance my next car? I am 72 and don’t want to own it.

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