The personal contract purchase may be the most popular form of car finance in the UK, but it’s a rather complicated finance product and most car buyers find it confusing. Well, there’s no official maximum age limit.

You do, however, always need to be over 18 years old. Hi everyone, I know this is possible with various financial institutions, but does anyone know the cut-off of a cars age, like not more than 7 years old? You must be of legal age to make an application for an auto loan. Age is an important factor in the finance agreement as lenders have to be responsible and ensure that their customer is of an age where they fully understand their responsibilities within the finance agreement. Age: The age criteria set by the banks and other financing institutions for car loans is as per the guidelines of the Reserve bank of India.

We'll go over all of the basic auto loan eligibility requirements that you will want to be aware of before applying.

Most lenders have both a minimum and maximum limit they are willing to finance. Written quotation on request. Research from 2015 found that a staggering 88% of men and 75% of women could not explain what a PCP was. Typically, the minimum is around $5,000, while the maximum varies widely from lender to lender. 18 is the minimum age for car finance in the uk. Upper age limits depend on the lender, but up to 79 years is typical.12 Sep 2014.

Certain exclusions for Northern Ireland residents. However, some lenders want over 21 (Purely their choice based on risk statistics). The majority age is currently set at a standard 18 years of age.

To make an application for car finance you must be at least 18 years old or over. This applies to all other types of credit applications. Car hire Age Requirements and Restrictions.

Is there an age limit on car loans? To apply for the loan you must have valid proof of your age. Globally, you may come across a minimum and maximum age limit for hiring a car, and often additional fees will be imposed which will increase your overall rental costs. Is there a maximum age on taking out a loan?

The finance can be proposed in your name to the lender, legally there is no issue with your age, but the lender needs to … For people who are salaried the minimum age for application for a car loan from a bank is 25 years and the maximum age permitted for such loans is 58 years.

The Car Loan Warehouse Limited is a broker, not a lender and can introduce you to a number of finance providers based on your credit rating and we may receive a commission for such introductions.

Is there a maximum age on taking out a loan? Not really.