When preparing to move to the United States, buying a vehicle does not seem like an obvious problem; developed countries typically offer plenty of public and private transportation options. However, an independent study conducted in 2012 by Penn Schoen Berland found that before relocation, transportation ranked as one of the lowest priorities but then quickly became a top concern after moving.
U.S. public transportation is almost non-existent for about half the population
Once an expat arrives in the United States, they realize that obtaining a vehicle is a must unless they live in one of the top few metropolitan areas. The American Society of Civil Engineers ranks U.S. transit a “D” due to the fact that over 45% of Americans have no access to public transportation and millions more have very limited access. This is one of the reasons why the average American drives over 13,000 miles a year.
Credit history does not travel
So now the chaos begins. Trips from one dealer to another trying to find that perfect car exposes yet another crack in the system. As an expat, their previous credit history does not follow them to the United States. If you find a dealer who will even approve financing or leasing without a credit history, it will be at the cost of very high interest rates. All of a sudden that perfect car is out of reach or extremely expensive.
Buying a cheaper car with cash would require significant upfront costs. Also, in the long run it will do nothing to help the expat build a credit history or score, meaning their lack of credit history can remain a problem.
Crown partners with International AutoSource
Crown Relocations understands the challenges expats face while relocating. Through our partnership with International AutoSource, we will help you navigate the transportation difficulties you will encounter. International AutoSource offers all makes and models, new and used, without any required U.S. credit history. By leasing or financing your vehicle, you will also help build a credit history faster.
Click here for more information on obtaining a car in the United States.