14 year old wants a personal loan?
artmanrida48 asked:
I am 14 years old, and have been wanting to buy a dirtbike. (CR125 in case it could affect the loan) I found one for 1400 dollars, and am trying to buy it. I am afraid it will not last long, so instead of saving up the money, i am thinking of getting a personal loan. I have a job that i work at my mom’s office. My question is this: could i get a personal loan for it, without having any cosigners? Or if i need a cosigner, is there anything else i would need?
Caffeinated Content for WordPress
I am 14 years old, and have been wanting to buy a dirtbike. (CR125 in case it could affect the loan) I found one for 1400 dollars, and am trying to buy it. I am afraid it will not last long, so instead of saving up the money, i am thinking of getting a personal loan. I have a job that i work at my mom’s office. My question is this: could i get a personal loan for it, without having any cosigners? Or if i need a cosigner, is there anything else i would need?
Caffeinated Content for WordPress
July 17th, 2009 at 7:39 am
Caffeinated Content for WordPress
you are a minor, you can not get a loan even with a co-signer, it is unlawful for any minor to sign into a binding contract/agreement in the United States
July 17th, 2009 at 11:28 pm
Caffeinated Content for WordPress
I doubt that even with a co-signer, that a 14 year old could get a personal loan. Will your mother buy it for you and deduct the payment from what you earn at her office?
July 20th, 2009 at 7:05 pm
Caffeinated Content for WordPress
A 14 year old cannot sign a legal contract.
Thus you need to ask your mom to buy this for you and you pay her back. if she isn’t interested, don’t push it.