I live in New Brunswick, Canada, Age of majority = 19, i am 18 years old. What are my options for getting a loan. Apparently i cannot even get one with a co signer. Help!
2007-06-26 12:01:38 · 6 answers · asked by Dan45 1 in Business & Finance ➔ Personal Finance
Im not worried about paying for it, i have a job where i make very good money. i just do not have the time to save up for it, Also my job is too far away for me to bike/walk/hitch a ride. I am looking to get a loan.
2007-06-26 13:19:04 · update #1
Pay cash for used car.
2007-06-26 12:05:14 · answer #1 · answered by Anonymous · 3⤊ 0⤋
Is there some reason you cannot save enough and pay cash? what you are doing when you take out a loan is reducing future income, and paying someone interest to boot. While you are saving, someone is paying you interest.
Walk, bicycle, hitch rides, but save your money and pay cash for a car. It will only depreciate once you have it, assuming that you do not wreck it first.
Or find a rich uncle.
2007-06-26 19:10:25 · answer #2 · answered by Anonymous · 4⤊ 1⤋
I have to agree with the pay cash answers. If you are legally a minor, you should start by finding out if you can legally OWN a car. Maybe you could convince you parents to by the car for you and sell it to you when you are legally an adult.
2007-06-26 19:43:05 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
You are too young to enter into a legal contract. No one will touch that. You could try a 'buy here, pay here' place that finances their own accounts but that is shady at best.( High interest, crappy cars) It is still a legal contract to borrow money, unless a rich relative dies and you can pay cash with your windfall.
2007-06-26 19:06:10 · answer #4 · answered by biker_beeotch 2 · 1⤊ 1⤋
The question is , How will you pay for this loan?
You should ask your parents to put on there name, and you pay them. If they don't like this idea, So is a bank.
2007-06-26 19:11:11 · answer #5 · answered by reality 6 · 1⤊ 1⤋
Your best bet is to call a bank and/or lending institution and ask them what their policies are. Every bank is different and all loans are negotiable.
2007-06-26 19:05:12 · answer #6 · answered by life is good 6 · 0⤊ 2⤋