Re: I can help, I manage a car dealership
11-01-2012 10:23 PM
Thank you for this great source of information through the replies. It has been very beneficial in understandinpurchase loan and purchase on reading the responses.
I had a question regarding application for an auto loan while on work visa In USA. My husband and I are both on H1-B work visa working for different firms and are looking at purchasing a new car via a joint loan(hoping to get a lower interest rate). We also plan to make a down payment upto 30-35% of the total price of the new vehicle.
Since most loans cannot be offered for a period beyond the visa expiry date, I wanted to know how would the loan period be calculated in our case where I have my visa which is valid for the next one year (with a possible 3 year extension after expiry) while my husband has his visa valid for the next 3 years? what would be the maximum period by when the loan needs to be paid off - will it be in the next 3 years or will it be a 1 year period?