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  • Official comment
    Stilt Team (Edited )

    There is only one type of auto loan (auto loans are also commonly referred as car loans).

    An auto loan is a loan used specifically to buy a car and it is collateralized by the car. The way an auto loan works is that you have to make a down payment determined by the car seller. The down payment is calculated based on your credit history, the value of the car, length of the loan, etc. You can choose to make a small down payment but your interest rate will be higher in that case since there is more risk to the lender. The lender finances the remaining payment for the car. That's it. Until the car is completely paid off, the lender holds the title of the car and after complete payments, it is transferred to your name.

    International students may find it difficult to get a car loan since they have no credit history or SSN (in most cases) in the U.S. Many lenders try to take advantage of this. They require huge down payment and offer high rate loans to international students because students don't have other options.

    There are some non-bank lenders who can give you an unsecured loan at a rate lower than an auto loan by the car dealer. You can use this personal loan to buy the car and pay it off quickly (depending on the savings). Stilt is one of those lenders where international students can get an unsecured loan to buy a car without any hassle and at better terms than banks/credit unions.

    About Stilt:

    Stilt provides loans to international students and working professionals in the U.S. (F-1, OPT, H-1B, O-1, L-1, TN visa holders) at rates lower than any other lender. Stilt is committed to helping immigrants build a better financial future.

    We take a holistic underwriting approach to determine your interest rates and make sure you get the lowest rate possible.

    Learn more about us on Wikipedia or visit us at If you have any questions, send us an email at

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