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Can a 16-year-old who has a successful part-time job and runs two of his own businesses get a car loan and if not why not?
Wiki User
∙ 8y ago
No you can not. You must be at least 18 to enter in to a legally binding contract.
Find out what car dealers don't want you to know at www.dealertricks.com
Why Not?!?!?!
Because in the law's eyes you are still a minor. A minor cannot be held liable for any contracts that they get into, therefore, businesses and most reasonably smart individuals will not get into a contractual matter with anyone under 18, because those are the only contracts that can be broken 'for no reason at all'
How do you own 2 businesses.... (if you are the 16 y-o)
Wiki User
∙ 8y ago
Add your answer:
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What if you don't have any experience about the business you want to start but you have aspirant and need to get a loan?
I have to be open minded and research about how others became successful in their businesses to get ideas how to start.
Where do businesses get money from?
They get a small business loan.
Where can businesses apply for a commercial mortgage loan online?
Businesses can apply for a commercial mortgage loan online through websites such as RMC Funding and Union Commercial Loan. These websites offer fair loans for companies to use.
How do i get a Government Loan for a Small Business?
While you cannot get a loan for small business directly from the government, you can take out a loan from a bank or other lending institution that is guaranteed by the Small Business Administration (SBA). The main loan program is called the 7(a) Loan Program, and it is designed for existing businesses and start-up businesses.
cincinnati ohio?
unsecured loan businesses in cincinnati ohio
What do businesses do before buying on credit?
Possibly loan cash if they needed it
What are the things people get a bank loan for?
Businesses, homes and cars mostly.
How much does payday cash loan charge for accepting a loan?
The rate that a payday loan business would charge is different between the individual businesses. Some have flat fees, whereas other businesses charge interest rates. Check around before accepting a pay day loan as some of the fees can be exorbitant.
What is the meaning of commercial loan interest rate?
Commercial loan interest rates are a common way for small businesses to obtain start-up capital. These rates usually affect the growth rate and mannerisms of businesses.
What Are The Income Requirements For Small Businesses?
Businesses that qualify for an SBA loan generally have $50,000 to $5 million in annual revenue, and 1-40 workers. Many businesses are profitable and cash flow positive. All are able to show that they can afford to make our monthly loan payments.
Who Can Qualify For An SBA Loan?
There are many SBA loan options for different types of business owners. All businesses must be for profit.
What is it called whenbanks lend money to businesses?
I think you might be reffering to a loan.
