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    Edmundo Daco Jr.

    I'm sorry to hear that you have been denied by many dealerships. It is not an easy task to get financing as an international person in the US. However, there are some things that you can do to achieve car loan approval on your next application. Here are some of them:

    1. Build a good credit score - Credit score determines your creditworthiness when applying for any type of loan. It tells the lenders that you are capable to pay back your debt. It is based on how you were able to pay your past loans and debts. If you have good to excellent credit score then you will have a good chance for a car loan approval.

    2. Lessen Your Debt - It will not look good to lenders if you have a lot of debt. Start paying them off one by one. If you have credit cards, settle your balance with it as well. It is also an option to refinance all of your debts in one consolidated loan for you to have an easier time paying. Do this and the lenders will see that you are capable to get another loan.

    3. Make a good savings account - If you are able to set aside a good portion of your income every month and build huge savings, then lenders will see you as someone with the ability to pay back loans as well. You will also be able to manage you other living expenses as well.

    4. Get a car according to your budget - Don't bite more than what you can chew. Getting a new expensive car is very impractical if you can't afford to pay for the cost of it. Review your finances, including your monthly income, savings, assets, and debts to calculate the money that you have. Based from it, search for the car that suites your financial capability. Lenders will surely grant you the loan if you have the money to pay for it.

     

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