Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

Car leasing / financing in the U.S.

Car leasing / financing in the U.S.

Old Feb 10th 2009, 4:04 pm
  #1  
Banned
Thread Starter
 
Joined: Feb 2009
Posts: 5
expatinus is an unknown quantity at this point
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...
expatinus is offline  
Old Feb 10th 2009, 5:16 pm
  #2  
Septicity
 
fatbrit's Avatar
 
Joined: May 2004
Posts: 23,762
fatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond repute
Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus View Post
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.
fatbrit is offline  
Old Mar 18th 2009, 6:50 pm
  #3  
BE Forum Addict
 
Joined: Mar 2007
Posts: 4,059
Bill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond repute
Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus View Post
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.
Bill_S is offline  
Old Mar 18th 2009, 7:43 pm
  #4  
BE Forum Addict
 
Joined: Mar 2007
Posts: 4,059
Bill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond reputeBill_S has a reputation beyond repute
Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus View Post
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
Bill_S is offline  
Old Mar 18th 2009, 7:48 pm
  #5  
The Kwisatz Haderach
 
Mummy in the foothills's Avatar
 
Joined: Aug 2008
Location: North Wales
Posts: 8,065
Mummy in the foothills has a reputation beyond reputeMummy in the foothills has a reputation beyond reputeMummy in the foothills has a reputation beyond reputeMummy in the foothills has a reputation beyond reputeMummy in the foothills has a reputation beyond reputeMummy in the foothills has a reputation beyond reputeMummy in the foothills has a reputation beyond reputeMummy in the foothills has a reputation beyond reputeMummy in the foothills has a reputation beyond reputeMummy in the foothills has a reputation beyond reputeMummy in the foothills has a reputation beyond repute
Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus View Post
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
Mummy in the foothills is offline  
Old Mar 18th 2009, 7:52 pm
  #6  
Lost in BE Cyberspace
 
Duncan Roberts's Avatar
 
Joined: Oct 2003
Location: Avon Lake, OH
Posts: 5,270
Duncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond repute
Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus View Post
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
Duncan Roberts is offline  
Old Mar 19th 2009, 6:31 pm
  #7  
Bob
BE Site Lead
 
Bob's Avatar
 
Joined: Aug 2004
Location: MA, USA
Posts: 91,716
Bob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond repute
Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus View Post
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.
Bob is offline  
Old Mar 19th 2009, 7:31 pm
  #8  
Septicity
 
fatbrit's Avatar
 
Joined: May 2004
Posts: 23,762
fatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond repute
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?
fatbrit is offline  
Old Mar 19th 2009, 7:33 pm
  #9  
Lost in BE Cyberspace
 
Joined: Feb 2004
Posts: 13,582
anotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond repute
Default Re: Car leasing / financing in the U.S.

Originally Posted by fatbrit View Post
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...
anotherlimey is offline  
Old Mar 19th 2009, 7:48 pm
  #10  
Banned
Thread Starter
 
Joined: Feb 2009
Posts: 5
expatinus is an unknown quantity at this point
Default Re: Car leasing / financing in the U.S.

Originally Posted by fatbrit View Post
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
expatinus is offline  
Old Mar 19th 2009, 8:47 pm
  #11  
Septicity
 
fatbrit's Avatar
 
Joined: May 2004
Posts: 23,762
fatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond repute
Default Re: Car leasing / financing in the U.S.

Originally Posted by anotherlimey View Post
and look at those rims...
It was those that sold it to me.
fatbrit is offline  
Old Mar 19th 2009, 10:04 pm
  #12  
Bob
BE Site Lead
 
Bob's Avatar
 
Joined: Aug 2004
Location: MA, USA
Posts: 91,716
Bob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond repute
Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus View Post
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
Bob is offline  
Old Mar 19th 2009, 10:26 pm
  #13  
Septicity
 
fatbrit's Avatar
 
Joined: May 2004
Posts: 23,762
fatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond repute
Default Re: Car leasing / financing in the U.S.

Originally Posted by expatinus View Post
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
fatbrit is offline  
Old Mar 19th 2009, 11:59 pm
  #14  
Lost in BE Cyberspace
 
Joined: Feb 2004
Posts: 13,582
anotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond reputeanotherlimey has a reputation beyond repute
Default Re: Car leasing / financing in the U.S.

Originally Posted by fatbrit View Post
It was those that sold it to me.
They are pimp-tastic.
anotherlimey is offline  
Old Mar 20th 2009, 1:05 am
  #15  
Septicity
 
fatbrit's Avatar
 
Joined: May 2004
Posts: 23,762
fatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond repute
Default Re: Car leasing / financing in the U.S.

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

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.