Auto Loan Help.

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Jul 22, 2006 | 02:44 AM

Inkelis

Thread Starter

Joined: Jul 2006

Posts: 6

Auto Loan Help.

Ok, i have found a car that i wish to purchase. I'm only 16, i was curious if Banks can legally loan money to a Minor? My mother refuses to co-sign on the contract. Any help would be apprieciated.

Jul 22, 2006 | 09:24 AM

TheEngineer

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Joined: Jan 2006

Posts: 11,758

From:

RE: Auto Loan Help.

unless your 18 you need a co-sign. Sorry

Jul 22, 2006 | 07:25 PM

Dyno_Man

Joined: Dec 2004

Posts: 155

From: New York City...now residing in Fort Worth, Texas

RE: Auto Loan Help.

n if ur 18 u gotta make a min of $2000 a month or u'll still a co-signer, trust me I've already tried lol IM tryin 2 get a new car myself.

Jul 22, 2006 | 09:01 PM

TheEngineer

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Joined: Jan 2006

Posts: 11,758

From:

RE: Auto Loan Help.

Quote:

ORIGINAL: Dyno_Man

n if ur 18 u gotta make a min of $2000 a month or u'll still a co-signer, trust me I've already tried lol IM tryin 2 get a new car myself.

it depends on where you go, and how much the loan is if they require a minimum. Obviosly you need to make enough to afford it, thats all they check.

Jul 24, 2006 | 11:57 AM

Dyno_Man

Joined: Dec 2004

Posts: 155

From: New York City...now residing in Fort Worth, Texas

RE: Auto Loan Help.

thats tru, well down here in texas i think the min amount u can get is 7500, which i applied for, but i make at leaast 1200-1350 a month n i still need a co-signer lol

Jul 24, 2006 | 12:03 PM

TheEngineer

Super Moderator

Joined: Jan 2006

Posts: 11,758

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RE: Auto Loan Help.

it might just be a credit issue as well, if you really havent built up credit it will be tough. I was able to get a 5k loan from my bank when i was 19