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From what i understand, you have to be 18 to enter into a binding contract...and so its up to the bank whether or not you can get one because they can't enforce it on you...so you will definitely need a cosigner and the bank will look at both your credits to see if it's worth the risk

i know this because my friend signed for a loan w/ his parents as cosigners and because i also wanted a personal loan and the bank told me i needed a cosigner with better credit :P

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โˆ™ 2011-09-12 14:53:00
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Q: Can you get a loan for a vehicle with a cosigner at 16 years of age?
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Can a person take a car out of state without permission of cosigner?

No they can not because then the cosinger can report te car being stolen. YES YOU CAN AS LONG AS YOU ARE THE PRIMARY OWNER OF THE VEHICLE. THE COSIGNER IS JUST A PERSON WHO HAS MADE AN AGREEMENT WITH THE BANK THAT IF FOR SOME REASON YOU SHOULD DEFAULT ON THE LOAN THE BANK CAN PURSUE THE COSIGNER. BECAUSE THE COSIGNER PRESUMABLY HAS BETTER CREDIT AND STRONGER WORK HISTORY, THUS THE ABILITY TO REPAY THE LOAN. OF COURSE YOU HAVE TO BE OF AGE AND FOLLOW ALL OF THE LAWS WHEN DRIVING.


Do you always need a cosigner?

A cosigner is needed when the primary borrower does not, for whatever reason, (age, income, credit rating, etc.) does not qualify for a loan on their own merit.


Can you get a loan at the age of 17 in Auburn Indiana without a cosigner?

No, you cannot. In the state of Indiana, as in most states you are not considered to be of legal age to enter into any contract until you are 18 years old.


Age reqierment for vehicle in Georgia?

it all depends on what you mean by age requirment. if you are talking about drivers license then the age is 16. If you are talking about purchasing a vehicle then the age is 18 and some dealers require a cosigner until the age of 21.


Is there an age requirement when refinancing an auto loan?

As far as I know, there is no age requirement for the individual, but there are age limits for the vehicle. The vehicle, in most cases can be no older than 5 years, or have less than 85,000 miles. Some lenders may give you a hard time if the book value of the vehicle is less than the value of the loan you're trying to get.


How do you get a personal loan with no credit or cosigner?

To get a personal loan with no credit or cosigner you can go online to find an online short term personal loans lending service.They are easy and convenient if you are in need of extra cash between paychecks.One great aspect of short term personal loans is that you do not need a cosigner on the loan and the lender will not perform a credit check.To qualify for short term personal loans, you must:Be 18 years of age or older.Be a valid United States resident.Have a job with monthly income.And, you must have a current checking account at your bank.


Can a students gets loans without cosigner?

Some students can and some students cant it depends on the students age. if the student is under 18 years of age then they need a cosigner. But if they are over 18 then they usually dont.


Can you get a car loan at 16 years of age?

no, as a loan requires credit, and you cannot have credit until the age of 18. Your PARENTS can, though.


Is it possible to get a student loan if you are under 18 with a cosigner and if so where?

Minimum age for federal student loans is 16. Federal loans don't require a co-signer.


How old do you have to be to get a personal loan?

18 Years of age and older


Why do you need a cosigner?

You will need a co-signer on a loan if the lender has determined that you do not have enough income or the credit rating necessary to make the purchase alone. It could also be related to your age, if you are a minor.


Who qualifies as a cosigner?

In the loose sense anyone over 18 years of age who would qualify for such (per the institution) and is willing to do so.


What are the requirements to take out a title auto loan?

The requirements for taking out a title auto loan are, being the age of 18 or older, the auto vehicle must not have financial dues, and must provide valid proof of vehicle ownership.


Can you get a credit card at age 12?

Generally no; you cannot get your own credit card until you are age 18. A card can be issued in your name from another adult cosigner, but a legal minor cannot sign a binding contract to repay the loan.


What is the average age of cars on the road?

the average age of a vehicle on the road today is 7 years.


If you are under 21 years of age and convicted of a DUI a court may take your vehicle away for?

f you are under 21 years of age and convicted of a DUI a court may take your vehicle away for?


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

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.


Do you need a cosigner to get a tracfone cellphone if you are under the age of 18?

You cannot sign a contract if you are under eighteen years of age. Someone would have to co-sign the contract and agree to be responsible if you don't pay.


What is the average age of a vehicle in Mexico?

Average age of vehicles in Mexico is 16.5 years (2013). For comparison purposes, average age for vehicles in the United States is 11.4 years.


What is the maximum age a cosigner can be?

There is no maximum age. I don't think federal law would allow any discrimination based on age.


Age limit on bank loans?

The age limit for a bank loan depends on the loan you are going to take .they are many loans that banks provideEx:- Two wheeler loanAuto loanTractor LoanHousing loanTruck loanEx:- for a housing loan the age limit is in between 18 - 70


How old do you have to be for a bank loan?

The earliest the bank would make a loan to you is at 18 years of age. Before that, you are considered a minor and legally unable to sign a contract.


What is a interest rate for a car loan?

Interests rates can be any where from 0-10% depending the age of the vehicle and factory incentives available at the time.


Is there a way to get a private student loan when you have bad credit and no cosigner?

Some countries provide government student loans to any student that needs one (provided you are a citizen of course) regardless of your credit rating; you are of legal age to sign a contract, so you do not need a cosigner. The only requirement is that you are enrolled in an accredited university or other tertiary education institute.


You have been making payments on a vehicle for over 2 years vehicle and insurance is in parents name and they stole it what are your rights?

Not really enough information to answer the question. What was your age when you 'bought' the car? What is your age now? If under legal age - are you legally emancipated? Whose name was the vehicle titled in? Who was the vehicle registered to by the DMV? (????)