"Can I get a car loan if I am a temporary H1B worker? "
"I recently graduated college with a bachelor’s degree and was offered a job in the U.S. under the H1B Visa program. I am already in the country and have found that I will need to buy a new car for my commute. Can I get a car loan?
Answer provided by
Answered on Jun 09, 2021
“Car loans are open for H1B visa holders. There are even lenders who specialize in offering these loans. However, you will also need to have an established credit before applying or you may end up with an unaffordable interest rate.
You should first apply for a secured credit card and take a few years to build your credit up. This will get you a better rate and give you time to save up cash for a down payment.
Also keep in mind that when budgeting for a vehicle, you will also need to get insurance. You can find good deals by using a smart comparison tool like Jerry to help you find the best rates.
MORE: Types of Insurance“
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