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Loan at 17?
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<blockquote data-quote="Ferendon" data-source="post: 4410483" data-attributes="member: 578259"><p>Under 18 = no legal contracts</p><p></p><p>If the parents sign for it, and keep him off the note, it will happen, but then they are on the hook. If they buy for him after he is 18, without him on the note, then it's a straw purchase, which is a felony. Best case scenario for his dumb ***, wait til he's 18, and get one of his parents to co-sign for him. At 17, he'll get laughed out of the bank. That means he's got until the time he turns 18, to save up as much cash as he can, to shrink the size of the necessary loan.</p></blockquote><p></p>
[QUOTE="Ferendon, post: 4410483, member: 578259"] Under 18 = no legal contracts If the parents sign for it, and keep him off the note, it will happen, but then they are on the hook. If they buy for him after he is 18, without him on the note, then it's a straw purchase, which is a felony. Best case scenario for his dumb ***, wait til he's 18, and get one of his parents to co-sign for him. At 17, he'll get laughed out of the bank. That means he's got until the time he turns 18, to save up as much cash as he can, to shrink the size of the necessary loan. [/QUOTE]
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