car news paper image
Gandalf Da
Salt, Pepper, News paper, Piano, Rabbit, 3 onions, Vanilla ice cream, Whale tongue, Coke bottle, can of tuna, beer, napkin, frying pan, bottle opener, pyjamas and car keys.
Answer
Don't let your mind wander. It's way to small to be outside by itself.
Don't let your mind wander. It's way to small to be outside by itself.
Do i have to have a parent or gaurdian with me to get a loan?
Ryan
I am 16, i have a car and a job. Ive worked with the news paper since i was 14 and currently work at Safeway. I have good credit also.
Answer
The law regarding minors and contracts is more subtle than the others here stated.
A minor can sign a contract, and minors do all of the time. For example, you mentioned you are employed by Safeway. When you accepted its job offer, you almost certainly signed a contract with Safeway agreeing to follow its rules for employment. You probably signed an employment contract with the newspaper distributor, too. You mentioned you have good credit, which tells me you have a bank account (another contract there) and may have some credit cards (more contracts). Credit scores do not materialize out of the air, and are the result of a credit history, which strongly implies you have repaid loans or credit cards in the past.
A bank or credit union may accept your application for a vehicle loan if you are a minor. However, it will almost certainly require you to have an adult co-signer. Why? Because although you've proven minors can and do sign contracts all of the time, courts do not enforce contracts against minors.
That seems to be the source of the incorrect statement, "minors can't sign contracts." Some lender will refuse to accept a loan application from a minor because the minor could default, and then later in court claim incompetence due to age, and the court may accept that defense.
In summary, you do not need a parent to co-sign a loan application, but you will need an adult with a high credit score, consistent income, and a low debt-to-income ratio to qualify for a loan.
The law regarding minors and contracts is more subtle than the others here stated.
A minor can sign a contract, and minors do all of the time. For example, you mentioned you are employed by Safeway. When you accepted its job offer, you almost certainly signed a contract with Safeway agreeing to follow its rules for employment. You probably signed an employment contract with the newspaper distributor, too. You mentioned you have good credit, which tells me you have a bank account (another contract there) and may have some credit cards (more contracts). Credit scores do not materialize out of the air, and are the result of a credit history, which strongly implies you have repaid loans or credit cards in the past.
A bank or credit union may accept your application for a vehicle loan if you are a minor. However, it will almost certainly require you to have an adult co-signer. Why? Because although you've proven minors can and do sign contracts all of the time, courts do not enforce contracts against minors.
That seems to be the source of the incorrect statement, "minors can't sign contracts." Some lender will refuse to accept a loan application from a minor because the minor could default, and then later in court claim incompetence due to age, and the court may accept that defense.
In summary, you do not need a parent to co-sign a loan application, but you will need an adult with a high credit score, consistent income, and a low debt-to-income ratio to qualify for a loan.
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