How To Buy Your First Car At 18

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Qualifications for a car loan.

How to buy your first car at 18. You have plenty of options when heading out to purchase your first set of wheels. Let them pay for the car on their own. Buying from a dealership. After reviewing this handy guide you may discover that owning a car is within your reach after all. Set your car buying budget.

Buy a car for them. Leasing is also an option but that s not really. You can purchase a car when you re 16 or 17 but you have to be 18 in order to apply for an auto loan and finance a vehicle. It doesn t take a rocket scientist to know that there are essentially two ways to buy a car. Do a combination of both.

Don t let the complexities of buying a car discourage you from getting your license. But dave doesn t recommend this. In cash and with financing. Once you turn 18 you re no longer a minor in the us and are legally able to take on debts such as financing a car. Buying a used car or giving a child a hand me down is the natural choice especially if college costs may be on the horizon.

First it may seem tempting to just go out and buy a car for your teenager especially if you have the money. Let s go through each option. Buying a used car from another private party. It s enough to make some teens wait to become a licensed driver. We have recommendations for the best used cars under 20 000 with many.

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