How do illegal immigrants get car loans?

Question

Ok maybe just not car loans, all loans in general? I'm confused, you need a social security number to get one, they don't even have a credit history, what banks even do such things. I'm not racist or anything, I'm a foreigner myself (legal student) but my friend just shared this tidbit of info with...

Answer 1

If they have an international taxpayer ID number (ITIN), they can get loans or bank accounts with it. Plenty of legal residents who are not full US citizens have valid ITIN numbers that they basically use in place of their SS#. The problem is that ANYONE legal or not can get an ITIN number, just send the right paperwork to the right place and they'll issue one. This is because of a technicality in the tax code that says even illegal immigrants owe taxes so they have to provide a way for them to get an ID number and pay. Problem is, most of them file 1 tax return with minimal info just to get the ITIN number and never file again.

Answer 2

1

Answer 3

Boa Car Loans

Answer 4

Most pay cash.

Others, who have been in the states a long time and have credit & a social security # its of no consequence to the lender if they are illegal. They need good credit like anyone else.

Buy here pay here dealers will finance anyone with a large down payment. They put locator's on the car so that when someone doesn't pay they can locate & repo the car.

Nobody is born with a right to a car loan.

Answer 5

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RE :How do illegal immigrants get car loans?
Ok maybe just not car loans, all loans in general? I'm confused, you need a social security number to get one, they don't even have a credit history, what banks even do such things. I'm not racist or anything, I'm a foreigner myself (legal student) but my friend just shared this tidbit of info with me and I was shocked! BtW, not the ones that commit credit fraud with someone else's identity.
Follow 9 answers

Answer 6

what does she want with a vehicle she will't legally stress except she receives DACA? Have her look into DACA first, odds are she will prepare. Then she gets a drivers license. She can not legally stress a vehicle and not utilising a drivers license and coverage. except she has a known interest she won't get a private loan. it is likewise a very undesirable thought to get into debt for in all danger a widely used vehicle. She needs to save somewhat extra advantageous than $2000, and for $2000 she gets a lifelike first rate used vehicle. If she does not owe money on the vehicle, she basically needs criminal accountability coverage that's plenty extra low-priced than any coverage her lender would make her take.

Answer 7

Many such folks pay with cash for most everything they buy.

"Buy-here-pay-here" car dealers appeal to such people who have a job but no credit. These dealers finance their own loans and don't check credit because they charge the highest interest rate possible and put the buyer on a very strict payment plan that includes a "starter interrupter" device that won't allow the car to start if a payment is late. Their cars are usually older models that are overpriced.

Answer 8

Because all mexicans have a reliable job and can pay all their loans. Unlike white people who stand by the freeway and ask mexicans for change.

Answer 9

Sheesh, the sobs even get mortgages.

BoA, aka boa constrictor, Bank of America, had a special documentation program set up for em.

I hope it died when BoA got busted for their subprime mortgage crime.

Answer 10

illegal don't need car loan they pay cash because they work hard they are not lazy alike you asshole