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i am 16 can my parents go gaurantor for me to get a car loan?


I am 16 and want a bmw worth 27k my parents have agreed to go gaurantor for me but what company will do this. I realise that if i have no co-signer then i have no chance in hell so yer what finance company will do this? Thanks

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Post a comment — Trackback URI RSS 2.0 feed for these comments This entry (permalink) was posted on Thursday, November 26, 2009, at 2:34 pm by Admin. Filed in Car Finance and tagged , , .

5 Comments

  1. Francie

    I’m not sure, but what I think is that since are 16, you cannot sign a contract. Therefore, your parents can’t be co-sign a contract with you. They would have to sign it alone, and make a deal with you separately to pay it back.

    Posted on 26-Nov-09 at 2:39 pm | Permalink
  2. darthgeeku

    Wow you are one lucky kid! A BMW @ 16 geez

    Posted on 26-Nov-09 at 3:12 pm | Permalink
  3. mike c

    In Texas the only way you could by one with cash at 16 is with your parents. Minors cannot sign contracts.

    Posted on 26-Nov-09 at 3:55 pm | Permalink
  4. VISHNU V

    nope

    Posted on 26-Nov-09 at 4:38 pm | Permalink
  5. The Auto Evaluator™

    No one under the age of 18 can sign for a vehicle loan unless they have been declared an “Emancipated Minor” by the courts. In your case, your parents can not co-sign because you can not be listed on the loan. They would have to put the BMW in their name until you are at least 18. Good Luck.

    Posted on 26-Nov-09 at 4:56 pm | Permalink

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