can i get a auto loan at 16 if i put $1000 down on a 6000 loan?
without a cosigner??
2007-09-14 07:51:15 · 10 answers · asked by sam 1 in Business & Finance ➔ Credit
Auto finance is what I do for a living and sorry, no you can not.
You must be 18 years old to enter into a legally binding contract in the United States.
2007-09-14 08:03:08 · answer #1 · answered by ? 7 · 1⤊ 0⤋
Without a co-signer? No.
Under the age of 18 any contract you would sign can't be upheld/enforced in a court of law. So a lender is not going to loan money if they have no recourse should you decide not to pay.
2007-09-14 08:14:20 · answer #2 · answered by Craig T 6 · 0⤊ 0⤋
I say no, but when it comes to credit - who the hell knows!
What I can tel you is that IT IS NOT WISE TO DO THIS!!! Don't get caught up in this mess at such as young age. Trust me...you will regret it. I did and now it is taking sooo long to clear everything up.
At 16, you are not able to enter a legally binding contract such as a loan (Business Law 101)
2007-09-14 07:57:31 · answer #3 · answered by Destined2BeQ 1 · 0⤊ 0⤋
>Beware of Advance fee Loan scams.
LOAN SCAM - Do Not Pay UpFront Fees.
Do not send money UpFront via Western Union or MoneyGram to any person or business in the UK, Nigeria or Canada in hopes of getting a loan. If you do you will learn a hard lesson & never see any Loan money.
2007-09-15 03:59:24 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Can't leaglly be responsible for a loan till you are 18
Sorry; no go
2007-09-14 07:57:31 · answer #5 · answered by wizjp 7 · 0⤊ 0⤋
Try the USDA loan program. I filed for bankruptcy and had no down payment for a house. They work with low income families. I have been in my house for over a year.
2016-04-04 20:57:58 · answer #6 · answered by Anonymous · 0⤊ 0⤋
At 16, you may not even be able to have a car titled in your name, depending on state law.
2007-09-14 08:50:44 · answer #7 · answered by bdancer222 7 · 0⤊ 0⤋
Compare rates free
2014-12-29 11:13:38 · answer #8 · answered by ? 1 · 0⤊ 0⤋
legal age is 18
2007-09-14 08:38:20 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Try https://tr.im/1kQ0W
2016-07-20 05:59:14 · answer #10 · answered by Anonymous · 0⤊ 0⤋