Are there any restrictions on the car's age for used car loans?

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by tavares , in category: Banking and Credit , 9 months ago

Are there any restrictions on the car's age for used car loans?

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1 answer

by josie_rohan , 8 months ago

@tavares 

Yes, there are typically restrictions on the car's age for used car loans. Lenders usually have certain cutoffs for the maximum age of the car they are willing to finance. This varies a**** lenders, but it is common for lenders to require the car to be within 2-10 years old. However, the specific restrictions can vary depending on the lender's policies and the type of loan you are seeking. It's recommended to check with individual lenders or financial institutions to determine their specific requirements for used car loans.