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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.

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AnswerBot

5mo ago

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Related Questions

What is the minimum age to obtain a car loan in California?

You must be 18 to sign a legal contract, i.e., to obtain a loan.


Can a 17 year-old obtain a loan for a car?

Yes, a 17-year-old can obtain a car loan with a co-signer who is of legal age and has good credit.


Is it possible for a 16-year-old to get a car 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.


Can a 20 year old get a car loan?

Yes, once you reach the age of majority, usually 18, you can signa contract and obtain a loan.


Is it possible to obtain a car loan with a credit score of 600 and 50000 of current student loans?

It is possible but your interest rate may be very high.


Where can one obtain an auto car loan?

One can obtain an auto car loan in a couple of different ways. One way that one can obtain an auto car loan is by visiting a bank, such as Bank of America, and applying for one. Auto car loans can also be obtain by applying for them in places other than banks.


Is it possible for a 17-year-old to get a car loan?

Yes, it is possible for a 17-year-old to get a car loan, but they will likely need a co-signer such as a parent or guardian since they are not of legal age to enter into a contract on their own.


Can you add a previous car loan into a new car loan?

No, it is not possible. Your previous loan must be completed to get a new car loan


Where can one obtain a car loan after having claimed bankruptcy?

You can obtain a car loan after having claimed bankruptcy by applying online at the Cars Direct website. Cars Direct is well known for helping people with poor credit obtain an auto loan.


How does one obtain finance when buying a new car?

To obtain finance when buying a new car you can go to a bank and take out a personal loan or a car loan. Your local bank will be able to help you get financing.


How can one obtain a cash loan if they have bad credit?

You can obtain what they call a "Payday Loan" if you have bad credit. Just take along the title to your car and it will be used as collateral for your cash loan. Of course if you don't pay back the cash loan they get to keep your car.


What is the legal age in order to obtain a car loan without a co-signer?

This depends on the state you live in. However, most states require you to be 18.