I work with my dad during the summer and in about 3 years ill be 16 and ready to buy a car with 3,000 (down payment 1,500). Im getting a brand new Honda Fit. But since i don't have credit how would i pay for it?
2007-01-23 08:46:03 · 4 answers · asked by iRock. 3 in Cars & Transportation ➔ Buying & Selling
You won't be able to finance a car until you are 18. You can't enter into a legally binding contract until you're an adult.
Some lenders may alllow you to finance it if your parent co-signs on the loan but many lenders won't even do that. In that case your parents would have to finance the car and you'd then pay them or you'd have to pay cash for the car.
P.S. You're not going to find a new Honda Fit for 3,000.00
2007-01-23 08:55:15 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
buy a used car for ur first car. u are better off buying a used car anyway . if u buy one at least 3 years old all the bugs that it had have usually been fixed by then. plus if you are going have your insurance which at 16 will cost u a fortune u are better off with an older cheap car that u do not have to have anything but liability insurance on.
2007-01-23 17:42:12 · answer #2 · answered by Anonymous · 1⤊ 0⤋
put the vehicle in fathers name and jus make payments to him to pay the car
2007-01-23 17:01:27 · answer #3 · answered by Anonymous · 1⤊ 0⤋
you can not buy a car w'o your parents co-signed
2007-01-23 18:00:41 · answer #4 · answered by Anonymous · 1⤊ 0⤋