Legal Question in Credit and Debt Law in Tennessee

Sounds wrong to me, but I'm not sure.

Is it that they want the primary driver to be the loanholder?

Like you, I cannot see what husband not having a driver's license has to do with ability to pay the loan. It MAY be becausea) license is a primary form of identification, for securityon their loan; b) in some states, if someone doesn't pay whatthey owe someone and it's related to an automobile, the creditorcan institute a proceeding to take away the driver's license untilthe judgment is satisfied, an additional threat.

Another possibility: it's just on their form and they think thateach space on the form must be filled in, but noone checked for sure.

Loan agreements are usually left up to the parties to the agreement.If they don't want to loan you money, they don't have to, except that they cannot discriminate for an illegal reason (e.g., race, religion, etc.); here they may legally discriminate and there's notmuch you can do about it. Heck, if you were lending money, wouldn'tyou want to be able to make the rules?

Sounds like husband's doing financially well. Maybe you should just save up and buy it for cash.Used cars are MUCH cheaper and it will save you money while you're saving up. I'm not really a smarty-pants.

Last comment: there's more than one lender out there!It's usually cheaper to get a loan from the dealer (betterrates) but they're not the only ones making loans on new cars. Find someone else. But if you check a few places and theyall have that same policy, then you'll have to read the handwritingon the wall, and give in.

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