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Car leasing / financing in the U.S.

Car leasing / financing in the U.S.

Old Feb 10th 2009, 4:04 pm
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Default Car leasing / financing in the U.S.

I just moved to the U.S., no credit score. Any suggestions to who I should contact regarding leasing or financing a car? I have tried my bank and the dealership and they cannot help me because I don't have a credit score...
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Old Feb 10th 2009, 5:16 pm
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Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus
I just moved to the U.S., no credit score. Any suggestions to who I should contact regarding leasing or financing a car? I have tried my bank and the dealership and they cannot help me because I don't have a credit score...
Buy an old one for cash (craigslist) and start working on your credit score. Takes a few years to build a healthy score.
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Old Mar 18th 2009, 6:50 pm
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Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus
I found the company <company name removed> that can lease/finance new or used cars. The can deliver nationwide with interest rates between 7.5% to 9%. They also work with AIG and can facilitate auto insurance to people without U.S. drivers license.


Read fatbrit's post again.

Last edited by meauxna; Mar 13th 2010 at 6:44 pm.
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Old Mar 18th 2009, 7:43 pm
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Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus
Yes, but what if you want a really nice car while in the states? I would rather lease the car I want and can afford on a monthly basis, than buy the car I can afford cash. Trust me, it would not be a nice car :-)

I just received a good offer on a brand new Lexus IS 250 from <company name removed> at 7.5% interest rate and just a little over US$ 1000 down.
OK, it's your money. That sounds like a great deal - for the guy who's leasing the car to you. I'd buy an old beater or take the bus before paying 7.5%, but that's just me. I sure don't begrudge anybody wanting to drive a nice car, but as I get older the more careful I am with my money. I'm turning into my father (who bless him, bought a Corolla a few years ago even though he could have paid cash for any Lexus he wanted).
Enjoy your car.

Last edited by meauxna; Mar 13th 2010 at 6:44 pm. Reason: company name removed
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Old Mar 18th 2009, 7:48 pm
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Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus
Yes, but what if you want a really nice car while in the states? I would rather lease the car I want and can afford on a monthly basis, than buy the car I can afford cash. Trust me, it would not be a nice car :-)

I just received a good offer on a brand new Lexus IS 250 from <company name removed> at 7.5% interest rate and just a little over US$ 1000 down.
Then you must be all show and no knickers
I would suggest Craigslist too. you can find really nice (pretty) cars for a lot less. Or got to Car Max and pay cash.

Last edited by meauxna; Mar 13th 2010 at 6:43 pm. Reason: company name removed
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Old Mar 18th 2009, 7:52 pm
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Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus
I just received a good offer on a brand new Lexus IS 250 from <company name removed> at 7.5% interest rate and just a little over US$ 1000 down.
Is that a lease or a purchase? Sounds like a crap offer either way, unless you missed some details off.

Last edited by meauxna; Mar 13th 2010 at 6:43 pm. Reason: company name removed
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Old Mar 19th 2009, 6:31 pm
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Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus
Dear Duncan Roberts, could you please share with me a better place to get car leasing, I am very interested. Please note that I do not have a U.S. credit score yet, but I am hoping to build this with the lease.
you won't really build one with a lease, you will with a loan on buying a car though...and leases are generally pretty shit.
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Old Mar 19th 2009, 7:31 pm
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Default Re: Car leasing / financing in the U.S.

Here you go: http://orlando.craigslist.org/cto/1080217501.html

Hardly run in at 100k.$4k and you'll probably get at least $2k if you sell it in 18 months. Car's cheaper than the gas and insurance. Why are you trying to kill yourself with a lease?
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Old Mar 19th 2009, 7:33 pm
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Default Re: Car leasing / financing in the U.S.

Originally Posted by fatbrit
Here you go: http://orlando.craigslist.org/cto/1080217501.html

Hardly run in at 100k.$4k and you'll probably get at least $2k if you sell it in 18 months. Car's cheaper than the gas and insurance. Why are you trying to kill yourself with a lease?
and look at those rims...
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Old Mar 19th 2009, 7:48 pm
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Default Re: Car leasing / financing in the U.S.

Originally Posted by fatbrit
Here you go: http://orlando.craigslist.org/cto/1080217501.html

Hardly run in at 100k.$4k and you'll probably get at least $2k if you sell it in 18 months. Car's cheaper than the gas and insurance. Why are you trying to kill yourself with a lease?
Fatbrit, now that is funny. A 15 year old pimped car, I am sure that it has only had one owner and been driven by a nice old lady on sunny days. With cars like that I will either spend a fortune on maintenance, trash it af 6 months or end up working on it every weekend.

I will rather pay the extra money and get a factory warranty, as I moved to the U.S. to build on my career not a car.

Thanks Fatbrit, but I am still looking for an alternative to my lease offer from <removed>

Last edited by meauxna; Mar 13th 2010 at 6:42 pm. Reason: company name removed
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Old Mar 19th 2009, 8:47 pm
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Default Re: Car leasing / financing in the U.S.

Originally Posted by anotherlimey
and look at those rims...
It was those that sold it to me.
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Old Mar 19th 2009, 10:04 pm
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Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus
Bob, just did some reseach after getting your reply. And it turns out that you actually get more "credit points" by having a car lease than a loan since:

"The reason is that leasing is considered by finance companies to be a higher risk than buying with a loan due to the fact that a down payment is often not required and that the outstanding amount owed on a lease nearly always exceeds the worth of the vehicle for most of the lease term, which is a result of low monthly payments."
From leaseguide.com

I also read another place that you usually have to have a better credit score to obtain a lease than a loan.

I would appreciate if anyone has an alternative to my only real offer so far on a lease through <company name removed>, whom I have found out, work together with Enterprise-Rent-A-Car so that they can deliver nationwide.
Kind of, but getting a lease doesn't jump start your score nor does it build you a credit history that you would get from a loan, and it's the history that is more important to you than the score at this point in time.

Get a half decent car that you can afford and put as much down on the loan as possible on the first payment and then just pay minimums for 6 months and you'll get a better history than with a lease.

Last edited by meauxna; Mar 13th 2010 at 6:42 pm. Reason: company name removed
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Old Mar 19th 2009, 10:26 pm
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Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus
Fatbrit, now that is funny. A 15 year old pimped car, I am sure that it has only had one owner and been driven by a nice old lady on sunny days. With cars like that I will either spend a fortune on maintenance, trash it af 6 months or end up working on it every weekend.

I will rather pay the extra money and get a factory warranty, as I moved to the U.S. to build on my career not a car.

Thanks Fatbrit, but I am still looking for an alternative to my lease offer from <company name removed>
You're the one who wanted the bloody Lexus! Here's a sensible buy for you:

Saturn Ion, 34,000 miles, $6k
http://orlando.craigslist.org/cto/1070990635.html

Cheap as chips to insure and maintain. You'll lose more than that driving the Lexus out of the showroom.

Last edited by meauxna; Mar 13th 2010 at 6:42 pm. Reason: company name removed
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Old Mar 19th 2009, 11:59 pm
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Default Re: Car leasing / financing in the U.S.

Originally Posted by fatbrit
It was those that sold it to me.
They are pimp-tastic.
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Old Mar 20th 2009, 1:05 am
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Default Re: Car leasing / financing in the U.S.

Originally Posted by anotherlimey
They are pimp-tastic.
I researched to see if they'd fit my Subaru -- but alas, no!
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