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Is buying a car for your child a straw purchase?

only if you use a straw


Are straw purchases of a car legal in CA?

No automobile straw purchases are not legal in California. Straw purchases are attempts to intentionally defraud a lender and if found out the car loan could be void.


What is legal age to purchase a car in Massachusetts?

what is the legal age to purchase a car in massachusetts


Is an auto straw purchase illegal?

Yes, an auto straw purchase is illegal. A straw purchase occurs when one person buys a firearm on behalf of another person who is prohibited from purchasing it themselves, such as a convicted felon. In the context of auto purchases, if someone buys a car with the intention of transferring it to someone who cannot legally own it, this can also be considered illegal. Engaging in such transactions can lead to serious legal consequences for all parties involved.


Is there a legal limit on interest rates for car loans?

There is in some states.


Does tfc banks do auto and home loans?

TCF Bank offers several different types of home loans. For car loans, however, they don't have a specific auto loan, but they do offer personal loans that you can use to purchase a car.


Can minors obtain car loans?

You will need a co-signer of legal age.


Can someone else take out a loan on a car for you?

This is called a 'straw' purchase. It does happen in the industry, but the banks do not allow it.


What is the legal age to purchase a car without a parents consent?

You must be 18 to sign a contract to purchase a car.


What is the legal age to purchase a car in Iowa?

18


Where can we get a car loan rates quotes for free?

I recommend roadloans.com. The site allows you to get new and used purchase loans, Refinance loans, a loan for a purchase for an individual, and a cash-back refinance loan.


How old do you have to be to purchase a car in NH?

You can purchase a car at any age. You just cannot drive the car until the legal driving age.