What would you Can you get car finance without a drivers licence?

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1. lordreflexis said:

   yes and no depending on the city in which you live

   most all financier’s require you to have full coverage insurance this will cost you 300-500 a month for a million dollar policy in order to get the insurance policy you have to provide a copy of your drivers license
   no license no insurance no insurance no car finance if you happen to find a loan shark or a whom don’t care if you have full coverage insurance
   then they will give you the money if you default a loan shark some one will come and break bones until paid in full <just kidding> anyway really depends on were you live and since all these company’s are going under rapidly for poor money management there are all kinds of new rules for financier’s to follow i wish you luck on getting a loan on a car you legally can’t drive in the first place why anyone would want to buy a car they cannot drive is beyond me also consider this if the car your buying is 17,000 buck at the end of the time frame you will have to pay the balloon payment with all interests at time if you don’t have the cash you loose the ride, keep in mind also that 17,000 dollar car your going to pay 20, 21 thousand because of financing and your car will lose value every year so you want to finance a car you can’t drive just to pay more to sell for less you see dealers want you to finance the car vs purchase outright your going to pay several more thousand for a car worth several less thousands at the end of the finance period then you have to pay the balance owned in a lump sum
   so lets say you get a car for 199 a month for 3 yrs that’s 36 months
   that would be 7,164 paid your balance owed on the car would be 9,836.00 due plus the interest rate you financed at since i don’t know what that number is i cannot tell you what you will owe but i can say it will be around 11,000 will that be cash check or money order if you don’t have the money they take the car back you don’t own it they have the title which means you can’t sell it either you don’t own the car a registration is not proof of ownership best bet buy a car outright
   that means you have title and registration which also means you don’t need full coverage insurance car dealers are going to tell you to get financing cause that’s were they make there money if you purchase outright they make less money on that car don’t let them fool you into believing that financing saves you money it cost you more to way more
   but that’s how they trap you.

   Hope that helps
   Lr

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   November 16th, 2009 at 5:32 am

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