Moving to US under a TN Visa later in Aug. Looking to see which brands offer International/Foreign Professional Programs. The main concern is that Canadian credit seems like it will not carry over.
I have seen on this forum that BMW offers programs for this situation.
Does Honda/Acura or Hyundai/Kia also offer something similar?
Or would financing with a cross-border credit-supported Loan service be a better option?
BMW offers international executive program.
Do you have an American Express card?
Looking into that option, AMEX is not widely accepted in Canada so I never had one of their cards.
Im with BMO in Canada and it looks like they have a good US Banking option. Day-to-day credit and debit should be good.
But it is a Credit Card you can open in Canada that will open a US credit bureau (Eq, Ef, Tu). I don’t think BMO does the same.
As IAC mentioned some European luxury brands have “foreign executive” leases. Outside of those, the duration of your Visa can affect your lease - e.g. if it expired in 2 years then many captives won’t approve a lease term longer than that.
If you search here you’ll find a lot of past posts, it’s a fairly common question.
FedEx, Bridgestone/Firestone or Vanderbilt?
I think ford and VW have similar programs
I don’t know about the BMO one, but the RBC one shows up on your US credit report. Do yourself a favour and get it now. Make sure it’s the RBC US bank and not just a USD card from RBC Canada.
When you get your SSN, call RBC to add your ssn to your account and start with a couple months of credit history rather than nothing.
BMW will generally require proof that a visa is good through at least 1 month after the expiration for a lease. I haven’t done one of these in a while (after doing a ton of them in 2020 and early 2021), but there were times we had to get letters from an employer showing proof that they were going to continue sponsoring the employee, etc. I don’t know how it’ll work with a TN visa, because I think it is strictly a three-year visa, so OP should keep that in mind too. This is where something like an 18- or 24-month lease comes in handy to establish credit (when possible) and go from there after the initial lease term.
I had used VW when I moved.
The leases on most of those brands are terrible so regardless of citizenship you’d want to finance those cars.
Will check out RBC. BMO recently acquired Bank of the West so I thought it might be easy to piggyback off that.
On the other hand, I found a company called https://www.novacredit.com/. They claim to transfer international credit for loan applications. Has anyone used this before?
Noted, was mainly looking at TLX leases, the ones posted on here seem very good versus financing at the current (6%-ish @ excellent credit) rates.
I am in a similar situation will be landing in US in couple of months on L1 Visa , looking for good lease or finance deals. Do any Brokers out here work with new immigrants without credit history for selected brands which have such programs