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Sunday, March 14, 2010

Do you need a license in order to get an auto loan?

Ok...I wanted to get an auto loan so that i can get my mother a car but i dont have a license. I dont know how they work but i do know that i get a million emails saying that i can get one. can someone please answer this for me!

Do you need a license in order to get an auto loan?
You do not need a drivers license to buy, finance or register a vehicle. You need a drivers license to drive!





You sound a bit young, from your question (no offense intended). I assume that you are an adult, and have some credit established. The bank or finance company is going to look at your credit history. They also will look at your income, and your expenses. They want to be sure that you can pay the payments.





I assume that you are trying to help your mother, either because she can not qualify for a car loan, or does not have the money to spend. This is a great thing, and you should be proud that you want to help her. Talk to an insurance agent, to see what is the best way to title the car. You may also want to talk to your bank or credit union to see if they will finance you.





Do not believe all the spam E mails you get. Your bank or credit union is the place to start!





Good Luck!
Reply:no license no loan plain and simple. maybe a state id but doubtful.
Reply:Yes


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