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    Edmundo Daco Jr.

    The process to get a car loan for non-US citizens are just the same for everyone else. You must submit an application to dealers, private lenders or the banks. Requirements for a car loan include driver’s license, visa or proof of residence, proof of income, bank statement, and other documents.

    The lender will look at your credit score, and base on it and your monthly income; it will determine the loan amount and interest rate. You, on the other hand, will choose the loan tenure and type of interest (fixed rate or variable rate). After you decided, you need to wait for the approval of your loan. Once the loan is approved, you have to pay the required processing fees. Then finally, wait for the release of the loan amount.

    When applying for a car loan, ensure to check your credit and make it good first. Clear any negative marks on your credit history. This will help you get approved for the loan and help you get a lower interest rate. Also, make sure that you shop around for the best car loan and car showroom offers.

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