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This question already has an answer here:

I would like to get a laptop, mainly to use in school and extracurriculars. While I can save up with my job, it would be much easier to finance the laptop instead, since I'm saving up for other things as well. At 15, is it possible for me to finance the laptop, or anything else for that matter? I would assume not, for legal reasons, but am asking just to be sure. Thank you!

marked as duplicate by Ben Miller - Reinstate Monica, Dheer, mhoran_psprep united-states Dec 4 '17 at 11:45

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    What country / Juriduction. Regulations are different depending on country – Dheer Dec 4 '17 at 4:37
  • Financing a laptop means getting someone (a bank, a loan-shark, or possibly a dad) to loan you money so that you can buy a laptop now and pay off the debt later. Many lenders will require some assurance that the loan will be repaid in accordance with the terms of the loan, and so you will likely need a co-signer who will guarantee that they will repay the loan if you cannot, assuming of course that you can find a lender willing to consider your request. In most jurisdictions, you are not considered an adult and are likely not permitted to enter into legal contracts such as loans. – Dilip Sarwate Dec 4 '17 at 4:49
  • What about a 14yo, or a 16yo, or any age below the generally accepted standard of adulthood at 18 (and given the range of values for various actions to consent to)? Duplicate all the way. The exact reason for needing the finance is irrelevant. – Nij Dec 4 '17 at 9:59
  • Please don't. Why set yourself up for failure at such a young age? – Pete B. Dec 4 '17 at 12:30
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(This is not an answer to your question, but needs to be said anyway.)

it would be much easier to finance the laptop instead, since (mumbled excuse).

Even if it's legal, (and I completely sympathize with your desire to get a laptop for "school") DON'T DO IT. Why? Because it gets you in the habit of putting your future at risk for immediate gratification.

Debt is risk, because if you don't pay the loan back, they can/will make your life miserable. It hurts your credit score, which makes so many other things in life more painful.

I'm saving up for other things as well.

Life is all about competing priorities. Learning to choose wisely while young gives you a big head start on life (even while still young: "hang out with friends" vs. "study for a boring but important test").

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    I suggest maybe this answer could be improved by explaining under what (similar) circumstances taking out a loan would make sense. Though they might not apply in this situation, explaining them would help improve financial literacy. Example that comes to mind is Were one a freelancer who required the laptop to work, then it makes sense to take out a loan to get a replacement for a broken laptop, so one can complete one's contracted work. (and avoid contract breach related costs.) Or something else to highlight the difference between a loan that (could) create wealth and one that cannot. – Lyndon White Dec 4 '17 at 8:53
  • I disagree. While I don't recommend taking loans out for everything, having a parent or guardian cosign one loan (or be the actual lender) can be a good learning experience about the pros and cons of borrowing at a time when your financial obligations are minimal. Look at this way: whether you are saving for a future purchase or making loan payments, you have money tied up over a long period. The question is, is the interest on the loan worth the immediate purchase? – chepner Dec 4 '17 at 14:47
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    You could turn this into a more direct answer by linking why it's a bad idea to why the law doesn't allow it in practice. – GS - Apologise to Monica Dec 4 '17 at 15:25

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