Getting a Loan at 17 Years.?

I'm 17 years of age. I have a stable job [15 hr] that I've had for almost a year.

I cannot get my parents to co-sign, is there any way that I can recieve an auto loan?

I have 1500 in The bank, for a new car, and my current car' went down the drain. I want 18,000.

Any ideas would be appricated. My monthly income == 700 every two weeks, x2 == 1400. My monthly expenses include a 100 cell phone bill, and insurance [also 100].

Thanks in advanced.

Getting a Loan at 17 Years.?

Not only can you not get a loan because you wouold not have to pay it bak, you will not be able to buy a car. You are a monor. Evne if your state's l;aws allow you to buy the car, that doesn't mean the dealer will give you the time of day.

Save up yor money for when you turn 18. The larger the down payment, the better terms you will get on a car.

Getting a Loan at 17 Years.?

At your age, no co-signer, no loan, because you don't have to legally pay it back.

Getting a Loan at 17 Years.?

Your folks may need to cosign not sure what state your in though. Goto http://instantlend.com They offer low rate car loans. Good luck

Getting a Loan at 17 Years.?

No matter what, nobody will give you a loan, because you wouldn't have the legal responsibility to pay it back (minors cannot enter into a legal contract). Your best bet is to save up some more money and get a used car.

Getting a Loan at 17 Years.?

Without a cosigner, it will be almost impossible to get a loan from a bank or credit union. You can try, but as a minor, you probably cannot legally enter into a contract like that with a business.

Is there a relative who will cosign for you? Or the parents of a friend that knows you well?

You MAY be able to buy a used car from a private individual who will be willing to carry the loan for you until you turn 18. But that might be hard to find, unless you buy the car from a relative that knows you and knows how trustworthy you are.

Another thought - $18,000 is a lot of money for a car at your age. That will make it practically impossible for any bank or credit union to consider you, even when you turn 18. I'd hold off on that new car, and go for a decent used car. The payments will be cheaper, the insurance, too. Look around to see what you can find, and have it inspected by a mechanic you can trust before you buy anything. You should find a mechanic in your area at the link below.

And Good for you for thinking about the insurance. Think also about other costs - tires, gas, fuel, oil, etc. It wouldn't hurt to be able to set aside some money every month to cover any eventual repairs. You're earning pretty good money for your age. Can you set $50-100 aside each month for this? If you're going to try to pay $18,000 for a car, you can probably get a car for $4000-8000, and still set some aside. Consider it carefully.

Getting a Loan at 17 Years.?

no financial institution will loan you money because as a 17 year old minor, you cannot enter into a binding contract. a loan is a contract, and by law only adults (18 years old or older) can sign on the dotted line.

the best thing is to save up all your money until you turn 18 and by that time you should be able to put a hefty down payment on the car and enter a contract, legally.

if you had just turned 17, saving $1200.00 a month will calculate to $14400.00 as you 18 and would make it easier to apply for a loan due to the loan to value of the vehicle. meaning you owe less than what the value of the car is.

Getting a Loan at 17 Years.?

All of these are great ideas, but even at 18 you will not have the credit history to obtain a loan. Used car all the way, for now. If you don't have it already: open an account, w/ savings, pump both of them. Not sure about cc law, but see if you can open a cc w/ a max of 200-500. Even at age 18 they are not going to loan you money if they cant see what type of risk you are. Don't bounce checks and if you are able to get a cc make timely payments and don't max it. 1st you have to prove that you are capable of handling $. And Shame on your parents i wish i had made 15hr at 17. But of course they could have aweful credit as well and not able to help Good Luck

Getting a Loan at 17 Years.?

Legally, a dealership can't even talk to you about selling you a car, let alone contract you in one. The only way to really get one now it to have someone buy it for you in their name because you can't be on the loan either. That is generally illegal too but most dealers will do it in order to get a sale, but somebody will have to like you a whole lot or be very un-educated to buy a car in their name for you. Good luck with that or wait it out and save your money for a bigger down payment then you can get into a 1st time buyer program when you turn 18.