Q: I'm under 18 I have saved and am ready to buy a car with all cash do I need to have a cosigner on the title in Idaho
I have saved all cash and I have found a vehicle from a private entity since I am under 18 and am buying the vehicle out right do I need to have some one else cosign on the title or can just I sign it I will be 18 in less than 12 months and don't want to retitle the vehicle. Also if my name is the only one on the title would I have to insure it my self. Do I have to be older than 18 to get car insurance.
A:
Hi there,
Yes you need to have a co-signer, not because you may not have good credit but for the same reason that you may NOT title a car in your name, until you're 18 yrs. old. So, right now you can titled it in yourname/co-signer's name and then in one year, re-title it in just your name. I know it's a hassle but you need to put yourself in the shoes of a car dealership. They might inadvertently sell a vehicle to an "underage" person and the person then defaults on payments. The "contract" is void and so the dealership will lose. It's probably for those reasons that the Legislature made it law that only persons >18 years may "legally contract" or "title" or ? you name it! Oh, and same with car insurance. The ins. co. will balk at selling you car insurance first because you're name isn't on the title but secondly, because statistically, you're 100 zillion times more likely to get in an accident than I am, I'm old. So, good luck waiting a year and final advice, don't fudge and drive before your birthday!
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