Can You Buy a Car Without a Driver’s License?

Cruising the streets in a car is a dream of many. But, can you fulfill the dream without a driver’s license? Can you buy a car without it?

The short answer is yes. It is not a crime to buy a car without a driver’s license. Also, it is legal for a car buyer to acquire an auto loan without it. However, it is a different question altogether as to whether a lender will truly want to provide an auto loan to such a car buyer.

Why do Lenders shy away from providing Auto Loans without a Driver’s License?

Lenders know that you are more likely to keep paying for a thing if you use it. And, you will not pay your loan if you cannot excursion your car. So, they refrain from providing auto loans to car buyers without a driver’s license. There are several other reasons such as:

1. Auto Insurance

Auto insurance protects the lenders in the event of an accident or a theft. They know that if your car is totaled or you do not have a car, you are doubtful to make payments. So, they require you to acquire an auto insurance policy.

If you do not have a valid driver’s license, you won’t be able to acquire an auto insurance policy. And, without an insurance policy, a lender will not approve your auto loan application.

2. Registration

State transport departments do not make driver’s license compulsory for completing the car registration course of action. They accept any state-approved identification card. But, they require you to provide the details of your insurance policy before registering your car. And, obtaining auto insurance without a driver’s license is impossible.

3. Suspension due to DUI

If your license has been suspended or revoked due to multiple DUI (Driving under Influence) convictions, you will not be able to register your car. And, as it is illegal to excursion a car without proper registration, lender will not provide you with an auto loan.

There is an Exception to Every Rule

Lenders will provide auto loans without a license in few exceptional situations such as:

1. When an unlicensed minor wants to buy a car so that he/she can have a car ready as soon as he/she obtains the license. In such a situation, a parent can get an auto loan by becoming a co-signer and acquire insurance with the help of his/her license.

2. When a spouse who does not have a driver’s license wants to buy a car for his/her partner, he/she can acquire auto loan approval if he/she fulfills the lender’s requirements for becoming a co-signer.

Buying a car without a valid driver’s license is a tricky task. If you are buying a car for someone else, it is justifiable. Avoid it if you are intending to use the car yourself.

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