GO for personal loan
Yes, it is possible for a 16-year-old to get a car loan with a co-signer who is of legal age and has good credit.
No, you cannot get a loan directly, you need a co-signer on whose name the loan will have to be approved. I am suggesting you few website where you can apply for the car loan.
personal loan have a higher interest rate than car loans beacause they are unsecured loans . In car loan the loan is used for only purchase car .In a car loan, the loan is only used to buy a car, but you can use it as personal items in a personal loan. Interest rates start at just 8.50 percent for a car loan, but can rise 16 percent based on one's credit score and credit history. Find out more, please click https://www.indialoanservices.in
No, it is generally not possible to obtain a car loan at the age of 16 because most lenders require the borrower to be at least 18 years old to enter into a legally binding contract.
no because your not legal age :-(
If you are making that kind of money just hire a car and driver. You have to be eighteen to legally enter in to a contract. what is this 16 year old doing to make so much money????? and no you need to be 18 The answer is no? but if he is making that much money then he does not need a loan he can just buy a car. I think he means "8 $ " not "8K"
Many banks accept the Form 16 to verify a persons proof of income in order to grant Personal Loans. You can also use your payslip or bank statement
No
In most cases, a 16-year-old cannot finance a car on their own because they are not legally able to enter into a binding contract. They would typically need a co-signer, such as a parent or guardian, to secure a car loan.
If your 16 year old has no drivers license but drives your car and has an accident, your insurance premium could be negatively affected.
START SAVING, LOL. OR YOU CAN BUY A GUN = SKY MASK
If the 16 year old has their liscence, the car can be titled in their name. yea i 16 year can have title in his/her name which mean he owns the car insurance will be more expensive but the parents cant take it away form him/ her