Can You Finance a Car Without a License?

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Tesla Elon Musk
Source: Barron’s

It is possible to finance a car without a license, however, there are points where a license is crucial to have. The most important point of the license in financing or buying a car is driving it off the lot, which you cannot do without a valid driver’s license.

Here is a guide on how to finance a car without a license, including what point you may need help from someone who does have one.

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Can You Finance a Car Without a License?

Buying a vehicle and financing one are two different things. You can buy a car without a driver’s license, and some car vendors even accept a valid state ID. The same applies when you want to finance a car without a license. If you are over 18, you can purchase a vehicle with cash, a check, or a valid credit/debit card. However, issues will arise when you’re registering your new vehicle and applying for insurance.

To complete the auto financing process, you need to title the vehicle and then register it. To insure and register a car, you need a valid driver’s license to get full coverage for the car. Furthermore, you can’t register a vehicle or buy license plates without insurance in most US states.

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In addition, it’s also likely that without a license, it may be more expensive, let alone difficult, to get insurance for a new or used vehicle purchase.