car loan problems
This is a common problem. Utah appears to be similar to California in terms of vehicle loans, requiring all persons on the contract to have valid drivers' licenses. One BIG reason would involve insurance issues (ie, an unlicensed driver cannot obtain valid insurance), thus putting the collateral at risk. Don't be angry with the dealer: I guarantee that they wanted to sell you the car. The loan must pass muster with the loan company, which will require proof that the people on the contract are licensed and insured. The loan company also wants sufficient income from those on the contract. The only exceptions would be a person whose infirmity precludes obtaining a license who can purchase a vehicle for other LICENSED drivers/caretakers to drive them around.
You MIGHT be able to get this done if you can sign a statement for the loan company stating that the unlicensed person on the contract WILL NOT be driving the vehicle. Again INSURANCE is likely the issue. Credirworthiness is not based on whether you have a license.Check with the dealership, or your bank. The interest rate will be tied mainly to 1) your credit history 2) the age and miles on the car 3) the length of the loan 4) your employment history and income and other factors (price, down payment). States like California have, or will have, caps on rates above the "buy" rate (usually 3% above the buy rate)
My suggestion, other than waiting until both licenses are valid, would be to try for a less expensive vehicle, one where the licensed drivers income would qualify. I did sales and financing for ten years; if you have more questions...BTW,
don't ask Dallas-I've read some of his posts and he is strongly opinionated, but substantially lacking in useful info.