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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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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 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.


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.

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