Car options and financing
#1
Forum Regular
Thread Starter
Joined: Apr 2014
Posts: 72
Car options and financing
I'll be moving to Florida in August and until just a few days ago I thought my only option would be to buy a old used car with cash. However after finding out about International Autosource I've realised the loan and leasing options that may be open to me. I've spoken to a couple of people from IAS breifly.
However, I'll be moving to Florida on an F1 student visa and my only US income will be a Graduate Teaching Assistantship with a modest stipend. The chap I spoke to from IAS mentioned it might be difficult to go down the normal routes because of my low US income. I wondered if some forum users could offer some info and advice regarding my options. With other relocation costs I won't have a huge amount of money to put towards a car up front. I'm about midway through the finance on my car in the UK so once I get a settlement figure for that I reckon I'll probably just break even when I sell that.
At the moment I don't even have any ball park figures for leasing etc in the US so when I was asked by the IAS agent what my budget was I wasn't really sure what to say. I've no idea how things compare between US and UK. I currently pay about £300 ($500) for my UK car per month but don't want to spend as much in the US, is it realistic to pay around say $250 per month in the US? Or am I way off the mark?
Any advice would be appreciated.
However, I'll be moving to Florida on an F1 student visa and my only US income will be a Graduate Teaching Assistantship with a modest stipend. The chap I spoke to from IAS mentioned it might be difficult to go down the normal routes because of my low US income. I wondered if some forum users could offer some info and advice regarding my options. With other relocation costs I won't have a huge amount of money to put towards a car up front. I'm about midway through the finance on my car in the UK so once I get a settlement figure for that I reckon I'll probably just break even when I sell that.
At the moment I don't even have any ball park figures for leasing etc in the US so when I was asked by the IAS agent what my budget was I wasn't really sure what to say. I've no idea how things compare between US and UK. I currently pay about £300 ($500) for my UK car per month but don't want to spend as much in the US, is it realistic to pay around say $250 per month in the US? Or am I way off the mark?
Any advice would be appreciated.
#2
Forum Regular
Joined: Mar 2013
Location: Madison, Ct
Posts: 39
Re: Car options and financing
You can lease a new Scion iQ here in the US as follows - not my choice but if you want cheap reliable transport tough to beat this deal
2014 iQ
$99/MO 36 MONTHS
$3,129 DUE AT LEASE SIGNING[3]
$1,000 BONUS CASH[2]
EXCLUDES OFFICIAL FEES, TAXES AND DEALER CHARGES. NO SECURITY DEPOSIT REQUIRED.
STANDARD TOUCHSCREEN DISPLAY AUDIO SYSTEM
37 COMBINED MPG[5] RATING (36/37 CITY/HWY)
11 STANDARD AIRBAGS AND STAR SAFETY SYSTEM™
2014 iQ
$99/MO 36 MONTHS
$3,129 DUE AT LEASE SIGNING[3]
$1,000 BONUS CASH[2]
EXCLUDES OFFICIAL FEES, TAXES AND DEALER CHARGES. NO SECURITY DEPOSIT REQUIRED.
STANDARD TOUCHSCREEN DISPLAY AUDIO SYSTEM
37 COMBINED MPG[5] RATING (36/37 CITY/HWY)
11 STANDARD AIRBAGS AND STAR SAFETY SYSTEM™
#3
Forum Regular
Thread Starter
Joined: Apr 2014
Posts: 72
Re: Car options and financing
I'd never heard of a Scion iq before so googled it. It's not the car I would ever choose for myself but I suppose if it comes to it, it's better than nothing. Even if I do have a phobia of small cars. I currently drive a Volvo C30, which is great for fuel efficency, safety etc but how small it is annoys the hell out of me. My previous cars have all been big 4x4s. Ideally I'd want a 4x4 again but this may not be possible with my budget.
#4
Re: Car options and financing
Florida doesn't do a annual inspection, so be careful of second hand.
As for a lease or buy, depends on your long term plans. You can lease a pretty naff small car for not much money, but without credit history you might have to put more down. Thing is, small cars in big pick up territory, tend to be a lot more scarier to drive.
As for a lease or buy, depends on your long term plans. You can lease a pretty naff small car for not much money, but without credit history you might have to put more down. Thing is, small cars in big pick up territory, tend to be a lot more scarier to drive.
#5
Re: Car options and financing
You can lease a new Scion iQ here in the US as follows - not my choice but if you want cheap reliable transport tough to beat this deal
2014 iQ
$99/MO 36 MONTHS
$3,129 DUE AT LEASE SIGNING[3]
$1,000 BONUS CASH[2]
EXCLUDES OFFICIAL FEES, TAXES AND DEALER CHARGES. NO SECURITY DEPOSIT REQUIRED.
STANDARD TOUCHSCREEN DISPLAY AUDIO SYSTEM
37 COMBINED MPG[5] RATING (36/37 CITY/HWY)
11 STANDARD AIRBAGS AND STAR SAFETY SYSTEM™
2014 iQ
$99/MO 36 MONTHS
$3,129 DUE AT LEASE SIGNING[3]
$1,000 BONUS CASH[2]
EXCLUDES OFFICIAL FEES, TAXES AND DEALER CHARGES. NO SECURITY DEPOSIT REQUIRED.
STANDARD TOUCHSCREEN DISPLAY AUDIO SYSTEM
37 COMBINED MPG[5] RATING (36/37 CITY/HWY)
11 STANDARD AIRBAGS AND STAR SAFETY SYSTEM™
#6
Forum Regular
Thread Starter
Joined: Apr 2014
Posts: 72
Re: Car options and financing
This is exactly why I want to go back to a 4x4. I get annoyed with having a Volvo C30 in the UK so can't imagine being happy with a little car in Florida. Even if I don't end up with a 4x4 I'd want something along similar lines like a midsize SUV but not necessarily a 4x4.
#7
Re: Car options and financing
A small private used car dealer would probably self-finance something "well used" for you. You would make the payments directly to the dealer, and when you're done with the vehicle just take it back and give him the keys and title. He will clean and polish it, change the oil, and put it back on the forecourt to sell again.
All towns have a few such dealers, in the poorer parts of town, with gaudy bunting, a shed for an office, and signs in Spanish!
All towns have a few such dealers, in the poorer parts of town, with gaudy bunting, a shed for an office, and signs in Spanish!
#8
Forum Regular
Thread Starter
Joined: Apr 2014
Posts: 72
Re: Car options and financing
A small private used car dealer would probably self-finance something "well used" for you. You would make the payments directly to the dealer, and when you're done with the vehicle just take it back and give him the keys and title. He will clean and polish it, change the oil, and put it back on the forecourt to sell again.
All towns have a few such dealers, in the poorer parts of town, with gaudy bunting, a shed for an office, and signs in Spanish!
All towns have a few such dealers, in the poorer parts of town, with gaudy bunting, a shed for an office, and signs in Spanish!
I'm not adverse to getting a 'well used' car. My Volvo is the first new car I've ever bought. All but one of my previous cars I've bought for next to nothing and ran them for a few years until I've been better off scrapping them than paying to get them through their next MOT. My last land Rover I paid £1000 for and it lasted three years before it blew a head gasket and I decided to cut my loses and move onto my next car.