Can I Buy a Car in Installments Without a Driver's License?
1 Answers
You can buy a car in installments without a driver's license because there is no national regulation prohibiting car purchases without one. Below is relevant information about installment car purchases: Installment Periods: The installment periods for car loans depend on the vehicle type. For new cars, the maximum installment period is 60 months, while for used cars, it is 36 months. Installment Payment Methods: Bank consumer loans, auto manufacturer financial company loans, and financial leasing options. Loan Policies: Generally, the down payment starts at 20% of the vehicle's selling price, and the loan term does not exceed three years.