Car Loans info

Last activity 16 August 2024 by aceshigh

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lshillActive member16 August 2024 16:17:41

Contacted my bank (Bank of Cyprus) regarding a car loan. I am over 65 so they said you can't get a loan. Any idea how to get one here?

aceshighMember16 August 2024 20:05:01

I'm sorry to say I don't think it's going to be possible. For a new car yoy need to put down a minimum of 20% and show income from a job in Cyprus,which im assuming you dont have at 65+. For a used car (this was the case 3 years ago) you have to provide a guarantor who has some kind of professional job locally, ie doctor etc.

You could see if it's possible to get a car loan with a guarantor, and if noone else here is able to offer suggestions, try speaking to a dealership directly as they will be able to tell you if one bank over another is more likely to accept you.

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