Food mart Case Study

Food mart Case Study

Introduction

While the scenario you describe would be legally permissible in most places, we think it is very unlikely that any lender would extend an auto loan to a minor, with or without a cosigner. Contracts with minors are generally voidable, meaning that it is difficult for a lender to enforce a contract signed by a minor if the minor defaults on the loan payments.

Food mart Case Study

Additionally, a teen under 18 like in the case of Jeremy Atwater would most likely have a low income and consequently a high debt to income ratio, making the ...