Auto loan for h1b status

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ananth_05

New Member
landed in US 3 yrs back , no one was ready to give me a loan for a car. then got a new Jetta lease. cuz they refused to give a 5yr loan! now my lease is ending in dec as well as my h1b Expiring @ the same time.

Iam planning to buy a car this time. Who will give me a (5yr) loan even in a h1b status? I will be filing for an extension in dec 05.

Xperts plz help !
 
ananth_05 said:
landed in US 3 yrs back , no one was ready to give me a loan for a car. then got a new Jetta lease. cuz they refused to give a 5yr loan! now my lease is ending in dec as well as my h1b Expiring @ the same time.

Iam planning to buy a car this time. Who will give me a (5yr) loan even in a h1b status? I will be filing for an extension in dec 05.

Xperts plz help !
Click to expand...

This is really unknown event. US is loan world , even if you are not asking people will give loan. With H1 too may people bought their home prices more than $500K. (Including me)

Your car dealer him self provide you a loan, may be higher APR. Did you ever see your credit report in your life. If not , go and order it through internet.\
www.experian.com

Otherwise became member of local credit union, they will provide you a loan.

If nothing work out, once you get your credit report inform me, I will arrange you to get a membership from a credit union and get you a loan. (But I need to know your credit report)

Do you have any credit card with you.?
 
great guru said:
This is really unknown event. US is loan world , even if you are not asking people will give loan. With H1 too may people bought their home prices more than $500K. (Including me)

Your car dealer him self provide you a loan, may be higher APR. Did you ever see your credit report in your life. If not , go and order it through internet.\
www.experian.com

Otherwise became member of local credit union, they will provide you a loan.

If nothing work out, once you get your credit report inform me, I will arrange you to get a membership from a credit union and get you a loan. (But I need to know your credit report)

Do you have any credit card with you.?
Click to expand...

I do want to add my two cents to this as well. I got my car loan from a credit union as well, and the question of what my status will be also came up. If you kindly explain to them that you will be getting your H1, which is easily renewed after 3 years for another 3 years, usually no one gives you any problems. Don't let any inquiries discourage you, most of the people don't know much about how immigration works, and all they are trying to do is to protect their money.
 
kayzeeturk said:
I do want to add my two cents to this as well. I got my car loan from a credit union as well, and the question of what my status will be also came up. If you kindly explain to them that you will be getting your H1, which is easily renewed after 3 years for another 3 years, usually no one gives you any problems. Don't let any inquiries discourage you, most of the people don't know much about how immigration works, and all they are trying to do is to protect their money.
Click to expand...

Most of the reputed Credit Union Knows lot about H1, and prefer to give loan to H1 visa holder, they are the best repayers compare to locals.
 
Cool

thanx for the info. now i have built my credit . my cr score is more than 725 in all the 3 breau. i will try to open an account with my local credit union.
 
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