Find solution
Should i take out Parent PLUS loan?

Can a parent take out a bank loan for a 17-year old?

  • I will be 17 in a little under 5 months, and I was wondering if my mom or dad could take out a bank loan for me to pay for my car.

  • Answer:

    Sure and your parents would be on the hook should you default as you're not old enough to enter into a contract such as this.

THE LIZARD KING at Yahoo! Answers Visit the source

Was this solution helpful to you?

Other answers

i actually did the same thing when i was 17, i needed a loan because i needed a car for college. they changed the law now and you cannot get a loan till you are 21 years of age. if your parents have good credit then they can get the loan in their name and if they trust you enough pay them back each month

In most states you have to be 18 even to get a co-signer to go in with you on a loan.

Let me steer you

Related Q & A:

Just Added Q & A:

Find solution

For every problem there is a solution! Proved by Solucija.

  • Got an issue and looking for advice?

  • Ask Solucija to search every corner of the Web for help.

  • Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.