BOCA RATON, FL -- (Marketwire) -- 10/30/12 -- ExpatRide now offer expatriates in USA four different expat car financing and expat car leasing options. The options make it easier for expats to choose the financing option which fits their assignment in the U.S. ExpatRide offers the broadest expat car program in the U.S. Expats moving to USA can now choose their new or used vehicle from any car dealership nationwide and combine it with the expat auto loan option best for them.
No other company offers as wide a range of vehicles, dealerships, pick-up and return locations and financing options. Expat customers do not need a U.S. credit score to be approved for any of the following new financing options offered to expats in the U.S.
The four financing options are:
1. Open Ended Equity Lease program - Tailored for the expat
Technically a bank loan with a residual value giving the customer the best and most flexible financing solution. The "Open Ended Equity Lease" provides the flexibility of a bank loan and the low monthly payments of a lease. Early termination is possible and there are no wear and tear penalties. This flexible lease option is usually only available to businesses. Customers are responsible for the un-depreciated amount, called the reduced book value (RBV), when the lease term ends or if they exit the lease early. If our partner sells the vehicle for more than the RBV at the end of the lease, the customer gets to keep the difference. If we sell the vehicle for less, the customer pays the difference.
2. The Closed End Lease
Function the way many customers perceive all leases to function: Customers are restricted to a specific mileage and are charged a fee for every mile over the contracted limit. Customers are also responsible for any abnormal wear and tear, such as broken, dented, or damaged items. They are also responsible for a cancellation fee if they have to break the lease earlier than the term.
Important questions to ask before deciding for a "Closed End Lease" is "How much will it cost me to break the lease at any time during the lease term?"
3. Cash Purchase Program (Prepaid Lease)
With ExpatRide's Cash Purchase Program you are technically buying cash, but gaining four major benefits you will not get with a regular cash purchase: Personal Car Shopper service, only pay for part of the car, build a U.S. credit score and assistance with selling the car.
4. Traditional purchase finance (similar to a regular bank loan)
This option allows the expat to take ownership of the vehicle at the end of the term.
ExpatRide's expat car lease program is tailored to expatriates moving to the U.S. interested in car financing. "The expatriate car financing program solves the challenges that many expats experience daily in the U.S. when it comes to being approved for a car loan or car lease. Especially after 2008, it has been very difficult for foreign nationals to obtain credit," explains CEO & Founder of ExpatRide Jesper Lovendahl.
This "No U.S. Credit Score Program" takes into consideration the foreign individual's historic credit profile from former countries of residence. This is very different from other financial programs in the U.S. as they generally only give the person credit for their U.S. assets and credit history.
ExpatRide does not require a U.S. credit score or a U.S. Social Security Number and in most cases not even a U.S. driver's license to deliver cars.
Personal Car Shopper Service (free service): ExpatRide offers according to the customer's wishes to search, find and negotiate the price and check the condition on any type of vehicle nationwide. This ensures that the customer gets a good price and vehicle in good condition (if pre-owned).
Insurance: Get competitively priced insurance for new or used cars. No U.S. driver's license needed to set up coverage.
Expat car financing video: Please watch our 2-minute video explaining expat car financing in the U.S. at ExpatRide.com or go to YouTube: http://youtu.be/Il0vpiUtoMA
Rental car program: Enterprise is known to have the best car rental rates in the industry. We have negotiated those rates and can offer two rate options -- one with Damage Waiver and one without. From 1 day rentals to 12 months rentals.
With ExpatRide, customers can choose new or pre-owned cars from any car dealership nationwide. There are no limits to what makes or models are available: Acura, Aston Martin, Audi, Bentley, BMW, Buick, Cadillac, Chrysler, Dodge, Ferrari, Fisker, Ford, GMC, Honda, Hummer, Hyundai, Infiniti, Jaguar, Jeep, Kia, Lamborghini, Land Rover, Lexus, Lincoln, Lotus, Maserati, Maybach, Mazda, Mercedes-Benz, Mercury, MINI, Mitsubishi, Nissan, Panoz, Fiat, Pontiac, Porsche, Rolls-Royce, SAAB, Scion, Smart, Subaru, Suzuki, Tesla, Toyota, Volkswagen and Volvo.
ExpatRide's services are available nationwide in the following U.S. states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.
About ExpatRide: ExpatRide is the preferred supplier of many relocation and destination service companies in North America -- a favorite amongst global mobility divisions for corporate relocation and an international autosource. ExpatRide is a preferred vendor on www.24expat.com, an expat resource platform.
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