GeorgeSpark

Hi all,
I just moved to Dallas, TX from the UK on E2.
My Experion Uk score is top-notch but US score is none. You guys must have already gone through this surprise!!.
What are my options for buying a car on finance?
I am not keen on buying a bangor for cheap and live with it for a year to build my credit score nor splashing full cash on new/nearly new car.
Thinking of car financing as a way to build my credit score.
Any ideas, please? Thank you.

Regards,
George

tom169

If you're sure you want to buy new and finance then check in at dealerships for expat programs. Back in '16 Nissan tried to entice me in an expat program. I think the only stipulation was an income of $80k or more.

GeorgeSpark

Thanks. Yes, I am looking at this.. Nissan Foreign Professional Finance Program
Anyone had first-hand experience with this?

tom169

Yep that's the one

GeorgeSpark

Is it a rip-off APR % deal? or a decent rate with 20%-25% down?

tom169

I don't know, didn't spend much time on the subject as I don't finance

civilservant

Anyone can get financed for a car in the US, even with an appalling credit history, the only variable is the interest rate. Even if the APR is high on an expat deal, after 12 months you can refinance. I recommend as soon as you are eligible signing up with a Credit Union such as Penfed or Digital Credit Union, their loan APRs are usually a point or so lower than the major banks.

If you have a way into Navy Federal Credit Union (unlikely unless you have a US based family) they are far and away the best. I do nearly all of my business with them.

GeorgeSpark

Great, thanks for the pointers. Credit-Score and Credit-History is a Chicken-and-Egg problem that I face..!! UK Experian score is useless here

steveq

The stinging irony is that Experian is British owned - although that might have changed - at one point it was part of Great Universal Stores.

SanDiegogirl

I bought a car on finance when I first arrived in the US direct from the dealer. (just to get my credit score/history started).
Think the interest rate was pretty high, so I paid the installments for a year and then finished it up.

sarasota chic

I used international auto source for my car purchase when I arrived in the USA.

petitefrancaise

VW and Mazda also do expat financing. Mazda in particular has given out some great deals to previous clients of mine - only new cars though. VW on the other hand will finance a used car as well as new ones.
We also used International Autosource but be prepared to negotiate hard - I think they used to only work if you used them prior to arriving in the USA but that has changed now.

cautiousjon

I bought a brand new Mazda CX5 through Mazda"s expat finance program (underwritten and serviced by Chase Auto Finance at the time) when I landed in 2014. My visa type (L1) qualified me for 0% APR for as long as my I94 was valid (about three years).

As soon as I had paid the loan off, I had a credit score in the 700s.

civilservant

For anyone not away, you need the following trade lines reporting on your credit report in order to maximize your score:

- 3 separate credit card accounts (in your name, not as Authorized User) with one of those accounts reporting a small ($10ish) balance
- 1 installment loan (auto/mortgage/student loan)

Any further loans/lines of credit are neither helping nor hurting your score unless derogatory. Inquiries don't hurt for more than 1-5 points depending on profile.

petepete99

How did the OP get on? I leased a Dodge Challenger HEMI within 3 months of arriving in Florida through International Autosource. They were a bit of a pain to deal with and I ran into several issues, but it was still a breeze to get approved. That car is long gone now but it was a great "when in Rome" moment! My wife and I don't have a car right now as I work from home and she uses her mum's beaten up (but still going strong) 18yo Lexus SUV.

I just signed up to PenFed because I'll probably dry and apply for a car loan with them for a new midsize SUV at some point this year. I have a decent mortgage with mid-700s scores across all bureaus, but my Green Card is still in the application process. Hopefully I'll get my EAD and Travel Doc soon, then I'll start shopping rates.