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Can a 17 year old buy and own his own car under his own name and liability?


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Wiki User
2015-07-14 16:06:49
2015-07-14 16:06:49

Depends on what state you live in. In most states the answer is yes. Call your State Attorney General for the answer.


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You can buy a car under your small business. You have to register the car and insurance under the name of your business.

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Yes, you can buy liability coverage for almost any car. You may not be able to buy comp or collision though.

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When you buy an option, you are buying an asset, and do not have a future liability. When you write an option, you are potentially incurring a future liability Thus you need some assets to back this liability.

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Loan acquired to buy an asset is a liability of business so interest incurred on that loan is also part of that loan and that's why it is also the liability of business.

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