How To Buy Your First Car At 18
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Leasing is also an option but that s not really.
How to buy your first car at 18. 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. Buy a car for them. 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. First it may seem tempting to just go out and buy a car for your teenager especially if you have the money. Qualifications for a car loan.
In cash and with financing. Do a combination of both. It s enough to make some teens wait to become a licensed driver. Set your car buying budget. Regardless of the route you take it s a good idea to visit a dealership to test drive the cars you are interested in.
Let them pay for the car on their own. We have recommendations for the best used cars under 20 000 with many. Buying a used car from another private party. Don t let the complexities of buying a car discourage you from getting your license. 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.
After reviewing this handy guide you may discover that owning a car is within your reach after all. Let s go through each option. But dave doesn t recommend this. It doesn t take a rocket scientist to know that there are essentially two ways to buy a car. You have plenty of options when heading out to purchase your first set of wheels.
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