What age does a person have to be to get a car loan without having a cosigner?

Answer 1

Your age has nothing to do with needing a cosigner, unless you are under 18. If you are 18 & over you will not need a cosigner if you have the necessary equity & income to cover the loan. As you seem to be a young person, may I give you some advise. Never borrow money to purchase a car. Save your money and purchase a beater car. Something that will get you from point A to point B. Keep saving your money and when you have saved enough then buy yourself a much better used car. Avoid new vehicles altogether. A 1 or 2 year old certified used vehicle is a much smarter buy. You avoid that first year deprecation and in some cases get a much better warranty than a new vehicle. Let someone else loose all that money on a new vehicle. Society today tells you that you need to take out a loan for a vehicle. This is why the American people are drowning in debt. Don't buy into this! Save for what you need and want. Live your life debt free, not debt ridden. The only item you should ever borrow money to buy is a home. I am 60 years old and have bought many new cars. All a big mistake. I should have never bought a new car. Buy used and pay cash, as I have been doing for the past 20 years. Want a great feeling, drive a car with no payments due every month.