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Can I finance a car after losing my driver's license?
I lost my driver's license, but I want to buy a car so it's ready to go when I get my license back in 90 days. Can I finance a car without a license?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“There are no laws regarding a lender’s ability to extend a car loan to a person without a driver’s license. As long as you aren’t the person driving the car at present, there’s nothing wrong with that.
Your real problem will be getting
auto insurance
without a license. Most insurers won’t provide insurance without a license, and you can’t finance a car without insurance. If you do find an insurer, you’re going to need full coverage and your rates are going to be expensive.”View full answer
- Gregory R.
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