What are the steps to owning your very own car? What requirements do you need?

Mistress

You dont have to have a license to own a car...and you don't have to have insurance to own it...just to drive it!!

It certainly helps to have good credit if you need financing, but there are agencies that will loan to you if your credit is not so great, even with a very low or no down payment. Go to one of those sleezy local used car lots that offer on lot financing. They're used to dealing with people with not a lot of money and no credit.

But once you have your car, you have to get it insured FIRST, Then you go to the tag office and pay the tax, tag and title fees if the car lot didn't take care of that for you. Then you'll have a tag and you're ready to go!

Odessa R

all that you stated unless you have the cash then no financing or credit score needed

redd headd

You have the main things you need with your list.Drivers license first. I would go to a credit union or bank to see if you can get a loan . Look at a few cars, and contact an insurance agent or two, so you have an idea what you will be paying on the cars you looked at. Then search your butt off to find a car you can afford. It's that simple.

Risk_Kay

You do not need a driver's license to buy a car.
(many elderly people buy a car and have family drive them)

The vehicle must be insured before you drive it, after you get your drivers license.
You don't need a credit score or financing. Your parents can buy the car, put you on as a co-owner on the title and add you as an occasional driver on the insurance policy. .. and you make the payments.

dgreer58

you need all of the above plus a down payment in most cases. Also, in some states you must be 18 yoa and in some
states 21 yoa.

oklatom

If you have the cash, the rest doesn't matter. You can walk in and lay cash down and buy any car on the lot. You can't drive it of course without license and insurance, but you sure can buy it.

Wolf Harper

Find a car on Craigslist, have a mechanic check it out, if you like what you see for price, hand him cash or cashiers check. File a paperwork with the DMV(Secretary of State) and blam.
You own a car.
That's it.

If you want someone to drive the car, you'll need insurance on the car.

If YOU want to drive a car (any car) you'll need a driver's license.

If you want to get financing -- have someone else loan you the money to pay for the car -- then you'll need whatever they request... pay stubs, employment history, SSN, etc. Because after all they're "giving" you a lot of money on the hope that you'll pay them back. So they want a lot of proof that you're a person of your word.

Getting financing has nothing to do with buying the car. Although some sellers will not want to deal with financing (they just want cash/cashiers check) and other sellers will really prefer you use the financing they provide (which is usually much more expensive.)

You realize if you walk into a car dealer's lot, you WILL be ripped off. 6 ways from sunday, or only 3 if you're careful. There are other places to buy cars.

Conductor

$$$$$$$$$$$$ - This pretty much makes up for all the other requirements

81 Honda

Um, you just answered your own question..

However, if you use financing, you don't technically own it until you pay the bank back. Until then, the bank owns your car.

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