Financing a car without a license?
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Financing a car without a license?
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I am 19 yrs old in Michigan. I recently went to a dealership and picked out a car that I wanted. However, at the moment I don't have a driver's license. My plan was to finance the car then go get a temporary instruction permit and use my car to practice driving and take the road test. However, I've read that you cannot finance a car without a license so I was wondering if there is any way to get the car before I get a license besides having someone else finance the car for me, or is that the only way?
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sensible_man
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The reason you cannot finance a vehicle without a license is that you must carry full-coverage insurance until the loan is paid off. Insurance companies will not cover an unlicensed driver. |
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Larry
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Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool - carinsurance.deep-ice.com |
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