Our babysitter has come in the USA 1 year ago and does not have any credit score (or it’s default to something).
And looking for some cheap lease options.
My understanding if she does not have tier 1 score, the lease prices will be definitely higher? or some dealers not so strict? or better will buy a car?
If she has no score, she has no score to fall into a tier. Dealers aren’t really the ones in the equation, it has to do with the financing arm or banks.
You should just lease a car for her, this makes the most financial sense. I feel that this post is going to bring a good amount of quality replies.
We are brokers here on the LEASEHACKR platform, usually clients who are new to the country and have a drivers license, and a minimum down payment of 500-1000 dollars should be able to get a KIA or ACURA. We have a software that allows us to check what their score is before sending the deal to the dealership, without leaving an inquiry on the report. If your babysitter is interested, please have them reach out to us at 213-357-3333, wed love to help her get into a vehicle.
I would lease it if it’s only financial responsibilities there, like lease payments, isurance without any issue.
But I cannot guarantee by myself that it will not be any other issues like incidents and so my insurance not skyrocket for all other 3 cars. or parking tickets, or what’s ever. We are close to 5 years of green card and close to US citizenship.
I don’t think “leasing for someone” is a thing. If you lease - it’s yours. You must have it in your Insurance, must be registered in your name, etc, etc. Check the contract.
It’s a thing called a straw deal which is fraud. The assignment clause of every lease also says you can’t do this.
Yeah, the legal way to do this would be to have the nanny as the primary lessee and have OP co-sign, right? Then the nanny would also have to get their own insurance coverage.
If he leases it in his own name, registers, garages, pays taxes, insures, nothing prevents him to give it to nanny as a host. I assume it’s a sort of au pair and she lives with them
In NY no matter what, Nanny with valid DL should be included in the insurance policy. State rule. Anyone has to have coverage in the same household.
Lucky you that CA doesn’t required that. Doesn’t?
OP didn’t say she was live in babysitter did he? Even in NY I doubt the rule is everyone must have coverage or the same coverage. In an house full of college kids renting a house where some have cars and some don’t that would be crazy. I could be wrong but I would guess the rule applies to families but not renters with formal lease agreements. Which they could always create for the babysitter.
Even if your babysitter gets her own car, pays for it herself and has her own insurance you should be aware that you, and your insurance, will likely still be secondarily responsible for her driving while she is on the clock under respondeat superior. Personally I have my babysitter drive my car while she is on the clock. Whatever the small increased risk to me, I like my child being in a much safer vehicle. And if something unfortunate happens, my insurance is going to be the one dealing with it anyhow since my babysitter only has state minimum insurance.
Insurance will be a bigger concern
We have insurance for health incidents by our home insurance, and nothing about car insurance.
She works 4-6 hours per day, and don’t drive any of our cars as it’s not needed in a year or two.
I don’t like the situation that her family has difficulty with the their car and would like to help to find solution with leasing, as it should be the cheapest way compare to buy a car.
If the car is mainly for her own personal use, I would be very concerned about my exposure to risk. Maybe first ask your insurance agent about whether leasing vs. financing insulates you more from risk.
For some reason, my own thought is that financing will insulate you more from risk (beyond the car payments themselves). But I am not a lawyer or insurance agent.
Parking tickets don’t affect insurance, AFAIK.