He has worked the same job for a year and makes $900 a month. Besides "buy here pay here" are there any auto loans avaiable?
2007-03-14 14:11:46 · 10 answers · asked by davidsaradodd 1 in Business & Finance ➔ Credit
it would be a big risk on the part of the bank. he should get a credit card first, and make sure he pays it off every month, so he can start building credit.
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2007-03-14 14:15:05 · answer #1 · answered by PR 3 · 0⤊ 0⤋
I am not sure if the state laws are any different but you have to be 19 years of age to legally sign a contract. Unless you are emancipated, meaning that you legally become an adult which has to go through the juvenile courts, with extremely good reasons. But that also puts you at the risk of being the age to be sued, etc... Hope that helps... otherwise, if I were you I would just start really saving the money up.... Even when you do turn 19 and are of age to sign a contract it doesn't guarantee that you will be given any credit. Make sure you have a good job and keep it for at least 6 months... That would look better to a creditor that may be interested in selling to you on a credit basis... Good Luck..
2007-03-14 14:25:24 · answer #2 · answered by millstone7201 3 · 0⤊ 0⤋
Unless you buy from an owner seller then I don't think so. First you need good credit my bro has been working makes good money and still needed my dad to help out. If you have great credit or maybe even good enough then you won't need a co signer if you have average or low credit you def. need a co signer. Also beware for those who let you do it without co signer or credit check. It would be better to buy from an owner seller just make sure to check the car out with your mechanic before you buy anything and get everything in paper, written.
2007-03-14 14:16:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No, he would have to build his credit first. If you have a bank apply for a credit card with them. Your odds are better getting a credit card than a car loan. Or get a cell phone and pay the bill every month on time and you'll get good credit.
2007-03-14 14:16:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
There might be, with could be pretty hard to find and carry a high interest rate. Some would depend on the amount of the loan, and the amount he has to put down.
2007-03-14 14:16:21 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
I am Mr Peterson Chris.I am a legitimate loan lender who gives out loans at low interest rate of 3%.Are you finacially down?Do you want to pay your bills?Is your credit score low?If yes,then you are in need of a loan.I deal with only honest people who are really in need of this loan.If interested contact me today with the loan of loan you need so that my loan terms and condition will be forwarded to you.You are to mail me or contact me through this email address
consultingpeters@myway.com
2007-03-15 22:25:48 · answer #6 · answered by peterson c 1 · 0⤊ 0⤋
Check on a loan with a credit union!
2007-03-14 14:17:48 · answer #7 · answered by Nubian Princess 3 · 0⤊ 0⤋
I would check with their bank-they have student college loans,and credit cards-that's how my son got started-its worth an "ask". Also many of the dealerships carry their own loans-
2007-03-14 14:14:51 · answer #8 · answered by ARTmom 7 · 0⤊ 0⤋
12 time 900 equals 10800 / 2 equals
5400$ will buy a cash Nice car.
don't go into car slavery pay cash ride free.
visit daveramsey.com to learn how to own your money before it owns you.
see the 'Drive Free, Get Rich' video on the site.
2007-03-14 14:17:06 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Perhaps, but he won't get a good interest rate.
2007-03-14 14:13:48 · answer #10 · answered by Mnementh 4 · 1⤊ 0⤋