Speak Up! - View Question #17728
printer friendly version
Question: Is it possible for a minor to buy a car?
In general, no a juvenile cannot enter into a contract. Nor can he or she actually own property. His or her parents technically own that property. If a parent will co-sign on a loan for a car, the juvenile can buy a car, but the parent will be the legal owner.
This may change in the near future for certain minors. Arizona is considering an emancipation statute for minors over 16 who can show they are sufficiently mature to handle their own financial and health-related affairs. The proposed changes would require a minor to petition the court for an order of emancipation. If the order is granted, the minor would then be able to enter into legally-binding contracts for the purchase of property, including cars.
See the Arizona State Legislature website for updated on proposed Arizona laws.