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My son........

is 18 and wants to get a loan for a used car. He works part time (about $600 a month). I am trying to figure out which would be best a "buy here, pay here" or a personal loan from an institution. What do you think?


Asked by Dahis at 1:02 PM on Jun. 13, 2011 in Money & Work

Level 29 (39,196 Credits)
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Answers (2)
  • I got my first loan when I was 16 from my dads credit union. He co-signed. Your son will probably have to pay so much more in interest at one of those buy here pay here places.

    Answer by Mel_in_PHX at 1:08 PM on Jun. 13, 2011

  • Best bet would be a bank loan co signed by the parent.

    Answer by lstrickland at 4:25 PM on Jun. 13, 2011