An auto in the United States is a means of transportation, sometimes a necessary one. At first you can easily do without it, but later, most likely, the question of purchasing your own car will become very relevant.
An auto loan: steps
Choosing a good dealer
The first thing to do before buying a car is to choose a good dealer. It will be useful to make a list of dealer addresses where you can go to find the right car. It is worth giving preference to organizations whose prices are fixed, excluding the possibility of bargaining. As a rule, they provide a 100% guarantee for a month – if a defect is found in the purchased car, it will have to be quickly and free of charge fixed.
Payment of cash loans in memphis tn and required documents
To buy a car, you must have an SSN. Formally, it is possible to buy a car without this document, but it will not be possible to take out insurance. Car insurance in the USA is compulsory. If the owner does not purchase insurance, then he is not entitled to use the car.
True, there is a nuance: you can get insurance for a car without SSN if the buyer’s current visa, in principle, does not require this document. For example, visas of category B1 / B2.
The payment method depends on where and from whom the car is purchased. If the seller is an individual from an ad site or a small car dealership, then you can pay in cash. Large dealers usually do not accept cash. Most often, payment is made by bank check. If the buyer’s checkbook is temporary, payment may not be accepted. In such cases, a company representative often travels with the buyer to the bank, and already there, in his presence, a check is drawn up for the corresponding amount.
It can be unprofitable to pay for the purchase with a bank card of another country, and even more so with an account in foreign currency tied to it. Firstly, American banks may find the transfer amount too large and may be suspicious and block the transaction. And secondly, the commissions for such operations and conversion of a large amount are usually very high.
In different states, the rules related to the documents required for such a transaction may differ slightly, so it is best to check all the information in advance exactly at the actual place of stay.
Extra costs: insurance and taxes
About 6% of the car price must be added to the cost of the car, since it will also be necessary to pay sales tax, the cost of re-registering the car and its number plate, as well as take out insurance. How much insurance will cost depends on:
- the car itself;
- driving license history;
- driving experience;
- the rates of the insurance company.
Usually the first installment is no more than $ 180. Further, as soon as the foreign driver’s license will be replaced by local, you will have to pay $40 less.
Every year after buying a car, you will need to go through a re-registration procedure. It costs about $50-60, the transport tax is already included in this amount.