Being new to the U.S. isn’t easy, and one of the main reasons is not having enough credit score to comfortably start your life here. But there is one thing you can do to improve the situation (and make your trips to Ikea much easier!) – get a car loan. An auto loan is the best way to help you prove you’re creditworthy, and here’s why:
First, before you take out a home mortgage or a business loan, an auto loan is usually easier to qualify for. And once you do – start making on-time payments and build your credit history. An auto loan is an installment loan, and it will look good on your credit reports.
Next, you’ll find auto loans can be quite flexible. That means you’ll be able to put down a larger down payment and make double payments whenever you can. You’ll save money on interest and enjoy the positive effect on your credit score. And speaking of interest rates – though you might initially get a high rate on your loan, after a while you’ll be able to refinance your car and get a lower rate.
It’s important to remember that taking out any kind of loan has its risks, so make sure you do your research and that you’re ready for the responsibility. Our Lendbuzz team is here for any question you may have. We’ll be happy to help you strategically build you credit score, and ultimately give you access to the best financial offers.
Lendbuzz is an online lender for expats & international students in the U.S. Our car financing platform offers international professionals attractive car financing solutions – without U.S. credit history or SSN.
If you are looking to buy a car – new or pre-owned – Lendbuzz partners with a wide range of auto dealers, to offer you a seamless car purchasing experience. Lendbuzz offers the lowest rates, quick & easy online approval (less than 5 minutes), and consulting services on how to build your U.S. credit history.
Visit Lendbuzz.com or contact to learn more:
Lendbuzz is an online platform providing car loan for international students and car loan for expats in the U.S.
Any questions? contact us for more details
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