Can Someone who is 16 get a vehicle financed?

Question

Can Someone who is 16 get a vehicle financed?

Answer 1

Not without a co-signer.

Answer 2

It sounds like you are trying to do this on your own without a parent involved.  The simple answer is no, 16 is not recognized as a legal adult with regard to contracts.  There are some exceptions, but they are very rare.

If you are trying to get a decent car for yourself, I would suggest you pay cash for a nice-looking, good running car; one that will work for you for two years.  If you shop smart you can drive it for two years, sell it for virtually what you paid for it and use that as a down payment when you are ready.

Answer 3

Nope. Not until you are an adult.

Answer 4

kind of, a 16 year old can have a parent co-sign and the title will be made out to the parent and the 16 y.o. but the credit history will go to the 16 y.o. what it amounts to is the vehicle will have a title of the 16 year old and the parent on it and when it is paid for, the then older than 16 year old will have the record of having paid for a car before.

I did this with my older two children ad they made out well for it. I will tell you if your parent agrees to this then make sure that you do not leave them holding the bag by not paying for it.

Answer 5

with a co-signer that has 700+ credit rating--yes.

Answer 6

No. You must be 18 to be able to enter into a legal contract