Im looking for some help, hoping you can point me in the right direction or help sort a vehicle in the coming months.
My family and I are moving to Florida from the UK towards the end of October. We wont have a US credit score but are coming across as permanent residents (green card) so arent able to attract any of the expat non-resident offers that BMW/Audi offer.
Ive leased for the last 10+ years and want to continue doing so, looking at an Explorer ST or Expedition, what is the likelihood of being able to secure a lease given the above? I could potentially pay the entire lease up front on a 12-24 month deal if that was an option to secure it (I understand the US calls this One-pay)?
Correct or if you have a friend or family member who is willing to co-sign you on a one-pay lease, that could work out as well. You would need a very caring friend / family member though.
12 month leases are pretty rare outside a few Porsche / Audi models. Occasionally we see an 18 month lease on certain Nissan vehicles.
Historically Ford and Ford Motor Credit have turned the levers of leasing ( mf,rv, incentives ) to where it makes more sense to purchase the vehicle instead of lease.
On LH you may get suggestions for comparable models as in another suv that is currently leasing for a better perceived value.
On the main LH page exists all sorts of useful articles and videos that may help in your search!
These are shite leases even if you had no credit approval issues. And the Explorer has a useless third row for someone who wants an Expedition
According to some posts, GM is easier on 1-pay lease approvals but their only three row worth leasing right now off the top of my head is the Cadillac Vistiq EV. Otherwise you may look into financing a Traverse/Enclave or Tahoe/Sub
Thanks for information guys, all valid, we arent fixated on the Explorer or Expedition, they just tend to be what we have driven when travelling there (pretty much exactly what we end up with on hire when we have vacationed for the last 15 years, aside a Tahoe we had back in 2010!).
Open to options on other brands, and even stretching to a 36 month deal if it was the right money, will get over there and start exploring what can be done. Co-pay wouldnt be an option, not that I dont have family or friends there that would do it, i just wouldnt ask! Insurance will be a consideration for sure, I know it can be scandalous in the US!
If already a card holder, you should check out this from American Express as a gateway to getting your credit established in America rapidly. If not already a cardholder, you most likely will want to become one before you move.
If you find you don’t qualify for a lease and need a vehicle for the first few months, you could likely finance from an outfit like DriveTime, who I would really only recommend for the most unique of circumstance. Find a vehicle that fits your needs, you will likely need to pay a large % as down payment and the interest rate will be absurd. Drive and make payments on that vehicle for 3-6 months to establish “good” history with installment loans. You will likely have established enough history in 6 months to get approved with a more mainstream lender.
Welcome to America.
