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    Edmundo Daco Jr. (Edited )

    An F-1 visa holder can apply for an auto loan in Florida despite not having credit history. One way is to apply with a co-signer. When giving an auto loan, lenders are taking a risk that you will not be able to pay back what you owe. Especially, if you don't have any source of income yet. With a co-signer, that risk will be lessened because there will be somebody else who can pay for the loan. Therefore, you will likely be approved for the car loan.

    Another way is to build a good credit score. A credit score determines your creditworthiness of getting loan products. With a high credit score, you are more likely to be approved for an auto loan. If you don't have a credit score yet, you can start building one by being an authorized user for someone's credit card, getting a secured credit card, or getting a personal loan.

    It would also help a lot in applying for a credit card, if you have a job and is earning some cash. You can get a part-time job on-campus, OPT or CPT. After that, you can open a savings account in a US bank. This will help you greatly on your auto loan application. If you can provide any sort of collateral during your application, it will also help.

    Lastly, you can try applying for a car loan with private lenders who do not require much credit history, just like STILT. You will be able to get a loan even without an SSN and cosigner.


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