2007-09-04 11:19:30 · 6 answers · asked by not sure 1 in Business & Finance ➔ Personal Finance
not without having someone over 18 co-sign.. there is absolutely NO WAY you'd get a loan..
You are a minor, and contract laws are unenforceable against minors... No lender in their right mind would give you a car loan on your own at age 17...
2007-09-08 09:31:36 · answer #1 · answered by I Can Count To Potato 7 · 0⤊ 0⤋
Sorry... the legal age is at least 18 and that's even a problem for a car loan without existing credit references. My advice is to become an authorized user on a parent's credit card to build up a credit rating and start saving your money for the next year or so to put down on a car. Remember having a car isn't only about a car loan. There's insurance and gas and maintenance to worry about. The more you have for a down payment and the higher your deductible the lower your costs. Don't be so quick to get a car as to work on getting your finances under control with savings. When you've got cash you don't need credit. Why pay 6, 10, 12% or more to borrow someone else's money if you don't have to??? Consider walking, taking the bus, paying others to take you places, or whatever other options you can brain storm. You will be looking around $500 a month for everything involved in a car. Is it worth that to you??? If you can save that $500 a month for 2, 6, or 12 months you'll have some money to put down if and when you can get a car loan.
2007-09-04 11:37:54 · answer #2 · answered by rayt721 6 · 0⤊ 0⤋
Do you already have a credit card? If you do and you have a good credit history, the bank will probably give you a loan....if you don't, then you should ask your parents to co-sign on a loan for you. That means it is your loan, but if you can't pay it back, they are legally responsible to. Another idea is to GET credit card and buy like one or two things on it and pay them off right away...that will give you good credit, and then you should be approved for a loan. I would suggest looking into getting a checking account at US Bank, and then getting their Student Visa Credit Card. A lot of times they will preapprove you for it without having to have your parents sign it. That is how I got my first card, and it works great as long as your pay the whole amount right away when you get your statement and don't make any late payments.
2007-09-04 11:26:12 · answer #3 · answered by I'minlovewiththeboy 2 · 0⤊ 0⤋
Need to be 18 for a contract to be legally binding .
You must have a good job to qualify for a loan , even over 18 .
How much is your job paying ?
Can you make a loan arrangement with your parents since they know of your job income ?
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2007-09-04 11:26:48 · answer #4 · answered by kate 7 · 0⤊ 0⤋
get a co signer
get a job
if u have a job go 2 a buy here pay here car place
they charge more the vehicle though
2007-09-04 11:25:56 · answer #5 · answered by Anonymous · 0⤊ 1⤋
sorry you have to be 18 to sign a binding contract!!!
2007-09-08 05:28:02 · answer #6 · answered by mister ed 7 · 0⤊ 0⤋