Im 16 going on 17 and im looking for a job and i just got my license. I was wanting to get a new car that i pay for every month. Would you be able to tell me what i need to do? And is this possibile?
2007-03-26 15:00:14 · 3 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
Without a job, nobody will want to loan you cash for a new car. Ask your parents or someone who trusts you to co-sign a loan.
2007-03-26 15:13:09 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I borrowed money through my parents at that age. I paid off the car very quickly too and my parents weren't too uptight about it. First get a job and explain to your parents how much money you make and how bad you want or need a car. If you can convince them that you make enough money to pay them back, they may be all for it. To me that's really the only way. I would say its VERY hard to get a loan from a bank without a job and being the age you are. Good luck!
2007-03-26 22:20:50 · answer #2 · answered by Tim A 3 · 0⤊ 0⤋
You must be 18 years or older to enter into a finance contract. With or without a co-signer.
Lenders will want to see ability & stability to repay.
That means you will need (at the very least} 1 year of gainful employment & prior credit history.
2007-03-27 01:16:56 · answer #3 · answered by Vicky 7 · 1⤊ 0⤋