Are you allowed to own your own car on your own insurance at 16?

Question

Are you allowed to own your own car on your own insurance at 16?

Answer 1

you can OWN a car at 16 but you CANNOT insure it on your own at 16.  you are a minor and cannot be held bound to a contract.  therefore you would have to have a parent take out the policy with you as a named insured as well and the parent must sign and be responsible for the policy.

Answer 2

Answer from a General Insurance Agent

Yes you can own it, and Yes you CAN Insure it.

Now comes the But,

But since at 16 years of age you are not legally bound to any contract, You will have to have your parent or legal guardian countersign any contract for you including your insurance contract.

The parent does "Not" have to be insured with you on the policy, contrary to what many captured agents are taught but they do have to sign it.

Now here's another but.

Although there is no legal requirement that the parent be insured on the policy with you. Most insurance companies will simply not accept you at that age alone on the policy even with the parents signature.

Most Finance companies also will simply decline to finance you a vehicle without a parents signature guarantee.

They figure that since you can not be held to a contract at your age. A parents signature will bind the parent and make them liable for any losses.

Good Luck and Happy Motoring

Answer 3

I can only speak for California. Yes you can own your own vehicle at 16. Quite frankly, with a budget shortfall of 14 Billion dollars, the state of California will gladly accept vehicle registration fees and taxes from anyone who is willing to pay it.

As far as insurance, I believe most will allow a 16 year old driver to purchase insurance. But it will come at a price that most 16 year olds can not afford. This is because 16 year olds are in a high risk group. It would be better if your parent or guardian put the 16 year old on their insurance and let the driver pay them for it.

Answer 4

Of course.

You may not be able to buy a car on your own, but you can own one.

Anyone can make a contract; but if you are a minor (under 18 years of age), the law states that most contracts you make are "subject to disaffirmance." This means that while you are under 18 and for a reasonable time thereafter, you may be able to avoid any obligation created by the contract.

Minors are treated differently because the law recognizes young (inexperienced) people can make mistakes. If adults know that minors can "get out of" a contract, they tend to treat the minors more fairly, and be more careful about making a contract with minors.