Film, Media & TV0 min ago
money
3 Answers
how come someone under 18 can get a car on finance with parent guarentor, so why cant someone under 18 get a loan with parent guarentor?
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A person under the age of 18 can actually get credit for any item that is deemed as a necessity.
As an example, a car could be seen as a requirement if a 17 year old needed it for work as they lived in the middle of the countryside with no public transport links.
The case law actually goes back many many years and involves a young man purchasing a number of waistcoats via a loan.
That said, finance companies are very reluctant to lend money to under 18s be it for a car or any other purchase even if a guarantor is available.
As an example, a car could be seen as a requirement if a 17 year old needed it for work as they lived in the middle of the countryside with no public transport links.
The case law actually goes back many many years and involves a young man purchasing a number of waistcoats via a loan.
That said, finance companies are very reluctant to lend money to under 18s be it for a car or any other purchase even if a guarantor is available.
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