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I bought my first car at age 12 with money I had earned... it was a 1929 Model A and paid $1000 and had the auto club tow it home with the sellers AAA card.
I made the deal and paid the money... car was not running so little danger of me tooling around the neighborhood... Mom did come to look at it with me when I paid the money.
What it did was teach me how to rebuild a motor, front end, transmission, rear end, brakes, body work, etc...
I did buy a car at 16... paid $200 for it and it ran well...
I'm sure my parents could have raised you know what but the guy that sold me the $200 car was also my boss... and I had been paying into social security since age 12... had my own bank account with no parental signature... bank manager said anyone old enough to earn a paycheck was old enough to open an account... both my brother and I had credit cards at age 16 with no parental signature... guess it was different then... it was a secured credit card with a $400 limit and I had to maintain $1000 balance.
Problem for anyone under 18 and even if you are an emancipated minor is Insurance... very had to get insurance if not impossible as a minor...
I do know a guy that was in the service and bought a car at age 17... he was able to get insurance through the military and was an emancipated minor...
I think you may want to check yourself on this one.. I have yet to see where a 10 year old can get into a contract that is binding such as the purchase of a vehicle and have said vehicle transferred into their name. Wont and cant happen....
Now on the other hand.. if your talking about a Tonka Toy.. I regress...
A minor can buy a car, but the contract for sale is voidable at the minor's discretion. I don't know what the length of time a cash sale could be voidable (if a cash sale is voidable) as opposed to financing.
My first car was a 1971 Olds Cutless that I paid cash for. Paid $600 for the car and it was only 12 years old when I picked it up. I loved that car. Wish I still had it.
One of my sons just bought a 2009 Honda Civic that he paid cash for. He is 19 years old. It set him back $12,500. The car has low miles and he had spent the last 18 months saving up for it. His money and his choice in a car. I would have bought something much cheaper. My wife kept encouraging him to find something that would last him thru getting his education, I have no doubt that this car will do that for him.
Most of the people that I know saved up and paid cash for their first cars. No use getting into debt when you are just starting out in life.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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I bought many cars before age 18, but couldn't title them in my name until I was 18.
Delaware, NE, and MS have higher legal age requirements that 18.
I made sure my kids transferred their titles at age 18, cuz they were GONE! They each bought and insured their cars BEFORE age 18, (boys, so paid DEARLY for insurance) but I held the titles and insurance poilcies in an LLC until their 18th BD. Their cars were CHEAP ($35 at towing company auction). Lasted them through college at 50 MPG burning free cooking oil.
Yes, even a 10 year old can buy a car! (Or could at one time) Finance one or register one, NO. (At least here.) I bought my very first car at 11, even had the title in my name. I distinctively remember the lady at the DMV smiling and telling me to come back when I was 5 for my permit, and I remember Mom telling her it would take me that long to fix it up. Never did get it fixed up, tree fell on it, sold it for parts.
Yes, of course OP. However I would REALLY make sure you have someone experienced with the buying/selling process guide you through the first time (and maybe second when that comes). If you do some searches on this forum you will find more than a few horror stories about issues people have had with titles because they didn't know what they were doing or thought to overlook some important details regarding them.
Paperwork matters. Without a title in hand the vehicle is worth scrap. No title, no payment. No clean title, no payment. Some of the stories you read on here are gut wrenching where people fork over the cash only to find out later they were never given the title as "promised" or there was a problem with the title they did get and the previous owner is NO WHERE TO BE FOUND.
Lots of scammers, scumbags and low-lifes out there; being young and inexperienced makes you a prime target. Beware.
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