GETTING A CAR LEASE WITHOUT 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).
As a side note, leasing may also be available for international companies with employees from other countries who are completing projects in the United States for several years. The company can have a strong credit history or no history, as long as it has revenues over 1 million a year and has paid US taxes. (Details to come in the next article)
So, leasing without SSN, and in what situations could this be beneficial
- You need to adapt as soon as possible and establish a good credit history.
- You plan to invest money in your real estate in 1 year instead of paying rent. (the mortgage payment will be about the same as the current rent payment).
- You do not like the expense of renting a car without any financial reward in the future.
- Your budget for the first installment is at least $10,000 - $12,000.
- You need a lease for a short period of time, at least 12 months.
- You want to protect yourself from market volatility and avoid losses when the car's value falls.
Which brands can be leased without a social security number?
Land Rover, Jaguar, Mercedes-Benz, Infiniti.
Why is there so little information about this on the internet, or even among acquaintances who have gone through the process of becoming U.S. citizens? Exactly what is going on here?
The great regret of many immigrants is that these are not standard leasing programs, and they require certain skill sets, knowledge, and desire from the financial specialist at a dealership to complete them. As a matter of fact, this type of leasing is a very long process that requires the full involvement of the analyst in the details. For a financial specialist, executing twenty to thirty quick standard lease transactions at the same time as one without a Social Security number while keeping the details of the transaction in mind at all times is extremely lucrative. There is also a high percentage of refusals or requests for additional documents from the bank after the car has been issued. This doesn't encourage anyone to use this program. There are, therefore, a limited number of dealerships offering leasing without SSN for the brands mentioned above.
What do I need to do to go through the process myself?
- Call all the dealerships in your state until you find one that clearly certifies the possibility of leasing without an SSN.
- Understand the conditions for issuing a lease (the types of documents required to verify status, income, residential address, etc.).
- Understand pricing clearly. Are there any markups above MSRP on this deal? Which lease conversion factor will be used in the end? Compared with what the standard multiplier for comparable deals is, how much has the multiplier been manually inflated?
- Learn what the minimum down payment is for the car you want. The installment should not exceed 30-35% of the total cost of the car (including taxes, dealer fees, and registration fees).
- Learn which additional products (services) are required to obtain a lease, and which you can deny.
What kind of documents are typically requested?
- A document proving the right to officially stay in the country during the entire lease period.
- Official income confirmation and three recent personal bank statements with a debt-to-income ratio that is safe for the bank.
- Verification of the official residence at the address. It's often an FPL bill or any utility bill in your name.
- Contact information of six individuals in the US who know you. Name, phone number, address.
How can I go through the process myself?
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In the case of the MB GLC 300, for instance, what are the leasing figures you can expect without SSN?
An estimate is given below. The leasing program for a car changes every month, as well as the selling price. It happens widely due to the shortage of cars. It is recommended that you check prices at least every quarter.
The most popular SUV from Mercedes-Benz in the basic trim will cost you around $482 + tax per month , approximate upfront installment will be in the region of $16-17,000 based on 36 months and 7500 miles per year . (При необходимости, количество миль можно брать любое, даже 18к). You may take any number of miles, even 18k per year if necessary. This first payment includes all fees and prepayments, title and registration, tag number, etc. Feel free to bargain with the dealership for these numbers if the MSRP is $49,182.00 . The MSRP is set by the manufacturer and cannot be changed by the dealership. Comparing similar offers can be done using this fixed number.
In conclusion
Aside from building a strong credit history, leasing also quite strongly protects its owner from losses on the secondary market in case of mishaps (small or major accidents), or losses resulting from market volatility, which is now also something to consider due to the influx of electric vehicles into the market by each manufacturer. Moreover, leasing is an easy and quick way to switch cars every 2-3 years without searching for new car owners and bidding for the best deal.
Convenient, easy, and secure! What else could you want?
In addition, I will not miss the chance to remind you that our company provides not only leasing at wholesale prices from over 20 of the most popular automakers but also service to finance a car without SSN from 9.5% APR.
Along with our many years of experience, we also understand how to get a car with the greatest comfort and simplicity, taking on all the bureaucratic challenges. Every change in leasing programs and requirements from manufacturers' banks is kept up to date by our team. In addition to constantly improving our services, and building up relationships with banks and dealers, we also offer programs for immigrants.
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It will be our pleasure to assist you!
ADVANTAGES of buying with PANAUTO MIAMI:
- - WHOLESALE PRICES
- - ONLY THE BEST SERVICE. 5 STARS – GOOGLE, FACEBOOK, DEALRATER
- - 8 YEARS OF EXPERIENCE IN LEASING AND CREDIT FOR EMIGRANTS
- - ACCESS TO PROGRAMS OF MORE THAN 20 MOST POPULAR CAR MANUFACTURERS
