Car Loan at 17? - HotUKDeals
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Car Loan at 17?

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is there any way i can get a car loan at 17 or are all loans 18 and over? Read More
wazb Avatar
9y, 7m agoPosted 9 years, 7 months ago
is there any way i can get a car loan at 17 or are all loans 18 and over?
wazb Avatar
9y, 7m agoPosted 9 years, 7 months ago

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Im sure i got a loan from TSB when i was 17, as long as the bank can see there is a steady lot of money coming in every week/month
He means hire purchase, anyone who lends money to an under 18 (not an adult) is breaking the law is what I thought. If it's not it should be, wrong way to start out in life in debt.

P.S. I'll lend you £5,000k at 50% APR as you're such a high risk :)

edit: Just checked with Lloyds and a few others, minimum age is 18. Piece of advice though 'wazb' get a cheap car to start out then you won't be so upset if you have a first crash. I bought mine for £75 five years ago Ford Fiesta 1.1 1986 D reg, lasted a year before the boot rusted through. I then borrowed £3,000 from my bank and bought my sisters car but was able to pay it off within a year.
yeh thats good thinking, save up a bit and buy a cheap runaround then after a year go for the loan plus your insurance will be lower as you passed a whole year without smashing.
you get about 30% off after your first year (no claims discount).

well worth it mate, id do that....if i was able to turn the clocks back lol
i got finance on a brand new car @ 17, i think my parents stood as something haha...guarantee i think it was called ? no idea but i drove out with a brand spanker !
Guarantor !!! thats what it was called lol
Guarantor !!! thats what it was called lol

Cheers thats wot its called :) :thinking:
Nice one, can hold your parents to ransom any time they decide to pi%$ you off :thumbsup:

But strictly speaking they own the car not you.
cant get any form of credit until you are at least 18 as it's a breach of the consumer credit act.
No no no no no no no no no no no no no x One Hundred Billion No's!!! Don't do it!

Why do you want debt at 17? Do you have a job? Do you have an income of your own? If so - save up and buy it yourself. If not, then you haven't got anyway to pay off the debt anyway.

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