FAQ: Does it make sense to buy a car on credit before getting an SSN and pay a high interest rate, or is it better to wait a few months and apply for a loan already with SSN?
Our answer:
- Definitely it makes sense to take a loan or lease even without SSN!
Exception:
1. You do not pay monthly for car/taxi rental while waiting for SSN and building several years of credit history without a car loan.
2. You have a guarantor who will get a lease on your vehicle with you, after you receive the SSN. And you do not pay monthly car/taxi rental fees while you are waiting for your SSN.
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Car loan for Tourists or other statuses without SSN (U4U, TPS, Humanitarian Parol, etc.) in the state of registration and without SSN at this stage. Also, these conditions are suitable for individuals with a fresh credit history that has not reached 6-12 months of age and for those, who does not have a guarantor and / or income confirmed by Paystubs.
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Getting a car lease without an SSN!
It is true that even without a Social Security number, a car can be leased! The car will not be cheaply leased without a downpayment, so be aware of that. Having the SSN in hand and systematically building up a credit history are prerequisites for this option. An in-depth discussion of this strategy can be found in our previous article.
In this section, we will discuss LEASING WITHOUT SSN as a strategy for people who are looking to build a strong credit history as quickly as possible and in the shortest amount of time. For example, low-interest rates on loans for development or mortgages (*0.9% APR).
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Part 2 of the article in "Star Club" magazine. How to lease a car without a Social Security Number.
We continue our discussion about how to buy your first car and efficiently build your credit history. In the previous issue, Dmitry Chernyak, the owner of the car brokerage company PANAUTO MIAMI, laid out all the necessary steps and options for purchasing a car.
There was only one way left uncovered - leasing without SSN (premium brands).
- We do offer a NO SSN LEASE program for those who can't wait to receive their Social Security Number, but have enough money to pay down from $10,000 to $12,000 and want to drive a premium class car. With this program, people can lease the Mercedes-Benz CLA for $10,000-12,000 down payment, and the rest is split up into monthly payments. Any model can be leased under this program. It may even be an S-Class vehicle depending on the down payment..
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Leasing a car without a credit history. Published in the “Star Club” magazine.
Miami is the place where a large proportion of immigrants from other countries choose to settle after moving to the United States. This is why both the real estate and auto sales markets are growing so rapidly in that region. Even those who can afford a car are often confused about how they should buy it to save the most money. The number of purchasing options and the automaker's financial programs that cater to specific buying criteria can make it difficult for someone without a lot of special knowledge to select among them. Professionals are better equipped to choose the most appropriate solution for each situation.
A journalist from the Star Club magazine talks to an auto expert from PANAUTO MIAMI about how to get ready for a car purchase and how to build credit. Mr. Dmitry Chernyak, owner of PANAUTO MIAMI, explained how credit affects car buying and the first steps to take:
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Truth or trick: $0 down (zero downpayment)?
The owner of PANAUTO MIAMI continues to assist us with leasing matters. In this issue, we will discuss downpayment, hidden fees, and a bit about miles.
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Leasing a car. Information you need to know
In the United States, automobiles are the most common form of transportation. It is a huge industry. In previous issues, we discussed the pros and cons of buying and leasing a car. Today, we will discuss leasing. It is a very popular and convenient way to possess a car. Basically, it is a long-term rental. PANAUTO MIAMI's president, Dmitry Chernyak, is a seasoned professional who assisted us with the details of this process.
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The pandemic and the crisis it caused have severely affected the country's economy. This is clearly obvious in the engineering and auto sales industries. Since a car in Florida is a matter of prime necessity, our magazine turned to professional Dmitriy Chernyak, owner of the car brokerage company PANAUTO MIAMI Inc, for comments on the situation in car industry.
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"Buy here, pay here" is the biggest scam in the world and stay away from it at all costs. Probably 90% of you do not even have a proper reason to go to a "buy here, pay here". Because if you have the right deal structure on the right car you will have a traditional bank to approve you.
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34% of Americans fall into the category of bad or fair credit, and in our experience, you guys are the ones who come into the dealership the most unprepared. In this article, we’re going to share with you how to buy a car if you fall into that bad or fair credit. If you have less than a 670 FICO score, this article is definitely for you. If you've never bought a car on credit before, this article is definitely for you. Reading this entire article going to ensure that you get the best interest rate, the best vehicle that meets all your wants and needs, and the dealership will not be able to scam you.
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Лизинг - это практически тот же кредит, но чаще всего с меньшими переплатами. И вот почему:
1. New cars: The leasing period is usually 2 times less than the loan period. You always drive a new car
2.Security of your investments: Everything you pay is deducted from the cost of the car.
3. Less monthly payment...
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If you’re an international student or expat who wants to buy a car in the U.S., you have a couple of options. You can either buy a car from a private seller or go to a new or used car dealership.
Either way, before you start negotiating, you need to be aware of the psychology of buying a car, and the techniques car dealerships use to get you to buy from them at any cost.
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Building Credit with an Auto Loan
If you’ve recently moved to the U.S. you might already know that living the American dream without a profound credit score is not easy. Most internationals who move to the U.S. have no credit score and the ones who do have, usually have a credit file that is too thin to give them any actual financial eligibility.
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It’s time for a new car and you’re a bit lost as to which option makes most financial sense?
We’re here to help! First, You need to consider your needs, financial means and lifestyle in order to choose the best option for you. Ask yourself: What kind of car do you want? How often do you plan on replacing it? Can you commit to a minimum of 3 years in the U.S.? Do you require unlimited mileage?
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Dear friends! We would like to introduce us to you, because not everyone understands who we are and what we do…
We, PANAUTO MIAMI, are auto brokers and/or auto leasing company in Miami, South Florida.
What does it mean?
We offer you new cars at wholesale prices, and also with home delivery! How? We have discounts on cars from INVOICE....
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Found the most interesting facts for you! Need more, see our profile! #Panauto we know everything about #carlease and #carfinance
Any Makes Any Model - Just One Click Away!
www.panautomiami.com
602-PANAUTO 602-728-2886
...
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Congrats Lily with a new 2022 MB EQS 450!Thanks for choosing #Panauto !
We deliver car-joy!
#Panauto we know everything about #carlease and #carfinance
✔️ More than 8 year experience
✔️ 1000’s of happy customers
✔️ Real numbers only
✔️ Most makes and models at one place
...
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Congrats Ezra with a new 2022 BMW X7 with M package!Thanks for choosing #Panauto !
We deliver car-joy!
#Panauto we know everything about #carlease and #carfinance
✔️ More than 8 year experience
✔️ 1000’s of happy customers
✔️ Real numbers only
✔️ Most makes and models at one place
...
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Hyundai still has GOOD NUMBERS in it's class! Most models are enough inventory, but the rest are still low inventory, so numbers are getting higher.Enough inventory:
- Elantra $386 (+$11 to prev. mnth). THE BEST CHOICE among sedan's in the class.
- Kona $406 (+$4 to prev. mnth)
- Tucson $467 (+$14 to prev. mnth)
- Santa Fe $482
- Palisade $614
Low inventory:
...
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Toyota has GOOD NUMBERS in it's class this month, but a lot models are still in transit or low inventory. Call for details!Low inventory:
- Camry $403 - Still good as prev. mnth
- Corolla $407 (+$43 to prev.mnth)
- Rav4 $415 - Still good as prev. mnth
- Tacoma $442 (+$14 to prev.mnth)
- Tundra $564 (+$30 to prev.mnth)
- Highlander XLE $589 - Still good as prev. mnth
...
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