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Financing under 18?

This is a discussion on Financing under 18? within the Motorcycle Financing forums, part of the General category; Do you have to be 18 to finance something? (looking at buying a motorcycle) or can you be at a ...

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Old 12-19-2008   #1
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Join Date: Dec 2008
Posts: 11
Default Financing under 18?

Do you have to be 18 to finance something? (looking at buying a motorcycle) or can you be at a lower age with credit and steady income?
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Old 12-25-2012   #2
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When you are 18 you are legally an adult, and only adults can sign legal documents - and a loan agreement is a legal document. In effect if someone was to give you a loan whilst you are under 18 you could legally refuse to pay it back - and they wouldn't be able to enforce it as legally they do not have a valid contract - as you did not have the capacity sign one as you were under age.

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