Can a minor buy a car and put it in their name? Can they have their own insurance policy?

AMY

If they pay cash for it yes. No minor can enter into any legally binding contract. Unless you are emancipated. ~~~

thepenismightier

No. If you're a minor, you can't even sign a contract to buy the car without your parent/guardian's approval.

MRS. A

According to the law, a minor cannot commit to a contract until adulthood..A minor can buy a car with a parent or adult handling the transaction. The title would be in the adult's name and can be changed once the child becomes an adult. As for insurance the child would be an added driver on the parents insurance policy.

answerman63

The CORRECT answer is, technically, yes, a minor can purchase a car, but you will probably not find anyone who will do it, unless they are foolish...and a dealer will definitely not do it. Why? Because as a minor, you can legally bail out of any contract you sign before you are 18 because in the eyes of the law, you lack "capacity" to be responsible enough to fulfill the obligation. Thus, any contract you sign is "voidable" by you, for any reason. A dealer isn't going to take that risk...even if you pay cash.

As far as insurance goes, it will be pretty much the same...but you don't want to have your own policy at that age anyway...the rates would kill you. Get listed on Mom or Dad's policy as a secondary driver, take advantage of the non smoking and good grade discounts, and the premium will still be a bit high even at that...but it would be tons cheaper than having your own policy...if the insurer would even want to risk dealing with you.

Hope this info helped.

cmpbush

No...a minor cannot perfect a contract in most states. Usually a guardian or executrix or parent would cosign as the major. Same with the insurance policy. Only an emancipated minor could legally do this.

paris56

not according to my daughter.

sgoldperson

No, until you are 18 you can't legally enter into a contract. So you can't be held accountable. What you could do is have your parent as a co-signer, which would mean it isn't exactly in your name but it would still be under your name as well.

eplayerj

Due to Capacity a minor cannot enter into a contract. So the answer is no.

akebhart

No.

fire4511

A minor can buy a vehicle, but anyone selling them one is taking a great risk. Minors can only legally contract for necessities (food, clothing, shelter) and a vehicle is not a necessity. If a minor does contract for something other than a necessity, they can legally repudiate the contract upon reaching the age of majority. What this means is a minor who purchases a car, even for cash, can when they turn 18 repudiate the contract and return the vehicle (no matter what condition). The seller must then return any and all funds that they have received from the minor.

For example:

A 16 year old buys a car from a dealership. He pays cash for the car. He drives the car for 19 months and three days before his 18th birthday he runs off the road and hits a tree. The car is a total loss. He can have the car towed back to the dealership on his 18th birthday, hand them the keys and say that he has now reached the age of majority, and is repudiating the purchase contract. The dealer will (most likely after a court fight) be forced to refund every penny that was paid for the vehicle. If he bought it from a private seller he could do the same thing.

Some states will allow vehicles to be titled in the name of a minor, so do not. Some that do will require that a parent or guardian sign giving permission for the minor to own a vehicle. Most insurance companies will also require the parent or guardian to give written permission, if they will allow a minor to have their own policy at all!

SxyPR

As long as you are a licensed driver, yes. You can buy a car and put it under your name - of course it depends on the severity of your credit. To finance a vehicle though you may need your parents to co sign for approval. And remember insurance rates for young drivers is really really HIGH!!!!! If you're a good student in school and provide proof to the insurance company, this will save you some money also. Also take a defensive driving course - that might save you some money. Lastly if I were you - not sure how old you are - maybe you may want to get a car that doesn't need full coverage to save you some money. You can definitely get an insurance policy under your own name as long as the vehicle is under your name and of course this is as long as you are a licensed driver. I Know this because I am a licensed agent for an insurance company

PAgirl

I know a minor can deffinatly buy their own insurance policy, I've had my own since I was 16. AS far as buying a car, if you're paying cash, should be no problem. But if you need to finance, it maybe hard to find a bank to give you a loan. I was able to finance at 16, but had to get my dad to co-sign.

michael2003c2003

Yes you can buy a car but you need parent's approval for the owner of the car. And you can have your own insurance policy but not relating to the car since you're a minor unless you have one of your parents as a co-insurer.

IL Padrino

Yes they can buy one. They just can't drive the car. I'm not sure about the insurance, but I think you need a license to have insurance. But, just call up an insurance company to find out. They might have a plan for rich kids with no parents who want a chauffer.

Unique

Yes a minor can buy their own car with cash, but you must be 18 to have car insurance in your own name.

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