You wont get a business loan with no work experience or credit. What is the state you live in best known for.
can you get a loan at 16
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According to how to get a loan if you are under 18 and many other reputable sources.
Can you get a loan at 16. And you have to have an income to pay it off if you dont have any income then they might not give you the load unless you agree to either get an income job or get your parentsguardians to agree. It will never happen. Once you turn 18 you may want to refinance the car in your own name so that you can begin building your credit.
Its pretty common for 17 year olds to get a college loan and the government accepts that you may not have reached the age of majority even if you didnt skip a grade or anything its just how the different cities and states want to draw the line in the sand for what class you belong to. You cant legally enter into a contract in the us until you reach the age of 18 which makes it impossible to finance a car on your own when you become a legal driver at 16 but dont let that get you down. And you cant get your own credit established until you are 18.
While you cant do it alone at age 16 you could get a car loan with a co signer such as a parent. I too am 16 and looking to find a loan. But you need parent consent if you are under 18 just in case.
You can get your won credit card at any age and then use it to get a bank loan. A car loan is a legally binding contract. Alternatives include getting a private loan from your family or settling for a car you can afford without needing a loan.
Why does vince mcmahon portray himself as a villain. In most states the age to get a loan is 18 years of age since it is a legal document. In the meantime work on building and maintaining a solid credit history.
Im pretty sure that regardless of which side of the atlantic youre on 16 year olds cant sign. Youll be that much closer to getting financing on your own later. As a result it is necessary for someone over the age of 18 to cosign on the loan and on the car title which is also a legal contract.
The interest rate may be higher but if your parent agrees to co sign at this time and they probably will if they were willing to obtain a loan for you in their own name then your interest rate should be reasonable. To get any kind of financing you will need a business plan and you will pretty much be required to invest a good chunk of your own money you wont get financed 100 so get a job and start saving. Can you get a loan if i am 16.
However it would seem thats not possible unfortunately. Also exceptions to the rule some limited subsidized federal student loans may not require a co signer which may be offered to minors.