Does anyone have experience buying a used car on a loan for like 2 years? I read a lot of things about how it’s hard for foreigners to get a car loan in Japan if they don’t have permanent residency.. I’m not sure if that applies for used cars as well. I’m currently on a student visa and live in the country side in Japan. I plan to work here after graduation so investing in the car here would be so helpful in my everyday life communizing. If anyone knows something about it I’d appreciate it!
8 comments
buy a kei shitbox that you can afford without a loan, and just drive that?
If you’re on a student visa, it will be very hard to get a loan. Financial institutions here are extremely risk-averse, so they will only be interested in loaning to what they consider a guaranteed success and they will consider students to be one of the _least_ guaranteed options. They also will basically not even consider giving you a loan term longer than the current validity of your residence status.
I have a. Credit card with a 1.2m¥ limit. Amazing credit, never defaulted or missed a payment the ~3.5 years I’ve been here. Pay the card down everytime I have large (+300,000) balance. Salary was like 5mil at the time and no debts whatsoever.
I do not have PR, just a 5 year engineer visa. I asked my credit card company for a 700,000 loan and they said no.
Best of luck but I was refused for not having PR.
It’s not actually that hard to get a car loan. It’s just you’ll almost always need a guarantor that makes enough $$. Your visa may however dictate your contract period.
Car loans have nothing to do with PR? Who told you that?
You just need enough money from your job. If you’re not working, you won’t get approved.
Check tokyo.craigslist.org for some cheap cars
Or Yahoo auctions
Should be able to get a kei car for under 200,000 with shaken
On top of a loan you’ll need to pay the car tax, monthly car insurance gas, shaken, parking
I don’t have PR and I’ve never been able to get a loan on anything. Even my two credits cards I’ve got were through a family deal with my wife’s credit card company. My car , wife’s car and the house is all in my wife’s name.