Can a person 17 yrs of age apply for a auto loan with his father as a cosigner?
This may vary by state, but often yes. At 17 the "child" hasn't reached the age of majority yet. While I was a lender (at a Texas bank) I had a dad who wanted his 16 year old to get a loan. My attorney told me that my contract with the son would be unenforceable until he was 18, but he could have credit reported in his name now and still be liable later, when he was of age. Dad cosigned and would have been liable had the loan defaulted. In this case dad owned a small store and his son worked for him. The loan paid as agreed and I'd do it again. If, however, the child is emancipated he would be considered an adult and could enter into the contract alone.
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This may vary by state, but often yes. At 17 the "child" hasn't reached the age of majority yet. While I was a lender (at a Texas bank) I had a dad who wanted his 16 year old to get a loan. My attorney told me that my contract with the son would be unenforceable until he was 18, but he could have credit reported in his name now and still be liable later, when he was of age. Dad cosigned and would have been liable had the loan defaulted. In this case dad owned a small store and his son worked for him. The loan paid as agreed and I'd do it again. If, however, the child is emancipated he would be considered an adult and could enter into the contract alone.
