British Expats - my plan to settle in the US In a week! does it sound good?

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British Expats (https://britishexpats.com/forum/)

- USA (https://britishexpats.com/forum/usa-57/)

- - my plan to settle in the US In a week! does it sound good? (https://britishexpats.com/forum/usa-57/my-plan-settle-us-week-does-sound-good-881185/)

Pulaski

Aug 4th 2016 5:07 pm

Re: my plan to settle in the US In a week! does it sound good?

Quote:

Originally Posted by platypus81 (Post 12019924)

Back to you for an update regarding the International Autosource. I have contacted a local agent and he asked me to find a car with a local dealer first. If I request a loan, the minimum amount would be $5000, with an interest rate of 5%. On top of that I am required to pay $495 to IAS for their service.

Given the local realtor does not seem to be bothered by my credit history (he is fine as far as I pay the entire sum cash), I don't think it's worth paying roughly $800 just to increase my credit score. Am I missing anything?

Is this for a used car? ..... I have only used them for buying a new car, and that is what I recommended them for. Buying new was (is?) handled centrally, so there are no local agents.

platypus81

Aug 4th 2016 5:18 pm

Re: my plan to settle in the US In a week! does it sound good?

yes I am looking for a used car, my budget is 12-13k. Do you recommend buying a new one?

Pulaski

Aug 4th 2016 5:26 pm

Re: my plan to settle in the US In a week! does it sound good?

Quote:

Originally Posted by platypus81 (Post 12019951)

yes I am looking for a used car, my budget is 12-13k. Do you recommend buying a new one?

Well used cars in the US are relatively expensive, and given than most Americans driving style can be best described as "like a lead-footed ape", I am sceptical about what you're buying when you buy a used car. Then combine that with the side benefit that I mention earlier of having a repayment loan on your credit report "from day one", and financing a new car is IMO a fairly attract proposition. So use most of your budget as a down payment and your monthly payment on a new $20k car ($8k-$10k loan) should be only a couple of hundred dollars, depending on the term.

Phyzz

Aug 4th 2016 7:34 pm

Re: my plan to settle in the US In a week! does it sound good?

Quote:

Originally Posted by platypus81 (Post 12019924)

On top of that I am required to pay $495 to IAS for their service.

I believe that the $495 may be the fee for Inbound Program (AIG). For this fee they offer a number of service including insurance, credit cards, loans etc.

We used this for obtaining car insurance as the quotes were much lower than I was able to find by myself. My saving more than covered the fee.

Worth checking out the details behind this fee.

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