Tips on Buying Cars: Can foreigner purchase a car, social security number, work visa

Question
Hi Ray:

Do you know if a non US citizen living in the US with a work visa can buy a car from a dealer if a US citizen will co-sign for the car loan or lease?  He can't buy a car on his own from a dealer now because he doesn't have a social security number yet.  What he would like to do is have a US citizen co-sign for the car.  The other issue is insurance and I am looking into if he could then get his own insurance so the co-signer wouldn't be liable if he had an accident. I don't know if this falls within your experience, but any help you could offer would be most appreciated.

Thanks,

Rick

Answer
Hi Rick
Sorry to say without a social security number you will not get a loan even with an A1 co-signer.
Cash is the only way unless a buy here pay here type dealer will be willing to hold the paper and in such cases the down payment will most likely cover a high percentage of vehicle cost leaving very little risk for lender

As for insurance for a vehicle being financed it will in the name of the title holder and coverage will be such that a co-signer is not liable.
How much can he afford buying a car for cash ? if you submit me an amount I will try to see if there is a way
Regards
Ray
http://www.usedcartips.org/