Hi, im saving for a $6000 car and im 16. I have a job you think i could pay the dealership a monthly payment?

Question

Hi, im saving for a $6000 car and im 16. I have a job you think i could pay the dealership a monthly payment?

Answer 1

nope what happens if you lose your job what happens if car repairs come up like mine was just 1600 for one month if i were you buy from a person not the dealer ship you could save 3000 dollars from taxes  

Answer 2

Not until you're 18. At 16, you cannot legally sign a contract, and a promissory note (promise to pay) is a contract.

Answer 3

well you can't buy a car at the age, without a co-signer, your parents (illegal for a minor to enter into any contract, and that includes a loan);

dont buy your first car from a dealership. Look at private sellers for a 2002-2004 honda civic or toyota corolla and pay up front

at 16, you will not earn enough to make hte monthly payments on a new car (can you afford $500 a mo at minimum wage working part time) and dont forget insurance.

Answer 4

Save up the money yourself first or save up enough to make a large downpayment for it. ($3000) Its easy at your age to make a "mistake" at your job and loose it. I have dealt with many of these kinds of people in my profession.  

Answer 5

Probably not just because you're under 18 years of age, but if so then you will need a cosigner, and you can have a car under your name when you're under 18, been through it before.....

Answer 6

Ging to have to get a Co-signer, because you can place money down on the vehicle,yu arent not legat enough to sign a contract. Being 16 Good job saving up that much money, but also have job for a period of time, and if not assets to prove you can pay for the loan if you default. If some one took money from you they are leaving them selves open for a contract can be broken by you any time, because of your age.

Answer 7

You could ask at the dealership, but I doubt they'll go for it.  They want all their money up front.  You're rather young to take out a loan.  But it doesn't hurt to ask.

Answer 8

Save your money and buy a junk car until you graduate from college and get a real job.  

There's too many young people wasting their money on expensive cars and they end up in debt and trouble.

I drove a 1991 Hyundai Sonata in 1999 with 300,000 miles.  It cost me $500 because it was crashed in the rear.  Well, I graduated from college and I have a real job.. I'm driving a brand new Audi A4 now.

Answer 9

NO and the only reason I say this is because you are under 18 and there for can not legally buy a car.  

Answer 10

dont go to the dealership i would rather go on craiglist or the autotrader try to find the car that have private seller and when go there to buy it do look under the car at hte engine and the transmisson if any thing leaks leave the car right away it might run very well but later you might have put more money in to it i have been into that position man and it sucks to be in i just warned you good luck...

Answer 11

dealership will only deal with you if you are 18 because of contract laws. They also look at your credit how long you work at your place of employment. They usually want at least a year or more. My opinion is to get a $3000-$4000 car which I have seen many that are very nice and still runs excellent. With the left over money you should save it for emergencies such as job less, car repairs, maintenance costs, gas, insurance premiums, night out on the town, college, etc. $6000 for a car is quite a bit of money especially for someone as young as you because the higher the value of the car the higher the cost to insure it. Insurance companies charge an arm and a leg when you are young especially for young men.