Car finance for 18 year old?
I am 18 years old. i want to
buy a $5000 ($ pound sign dosent work) car on finance and pay it off over 48 months. will anyone allow me to do this? i work full time and earn minimum wage at the moment plus overtime and i have
worked it out including taxes, insurance and petrol allowances and i can afford it, but i have
no credit history.
Answer
Do you even know that you will definitely be in a job 48 months from now? with car finance the apr and the total amount you payback will be quite high.
the best thing you can do is save some money out of your wages each month or take on a second job to pay towards your car, or you can even get a used car that will work out cheaper.
