ITIN Car Loans in Joliet, Illinois

ITIN Car Loans at D'Arcy Mitsubishi in Joliet, IL 

Learn More About Purchasing Your Car With an ITIN Car Loan

At D'Arcy Mitsubishi, we understand there are a number of responsible buyers who don't have a Social Security number. Fortunately, we have a network of lenders who allow you to get an auto loan with an ITIN, which is an Individual Taxpayer Identification number that you can use if you don't have a Social Security number. Getting a car loan without a Social Security number can be done if you work with an auto dealer like us who has connections to lenders that offer this service. Here are some frequently asked questions that can help you understand how to get a car loan using an ITIN.

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Can I really get a car loan with an ITIN?

If you live in an American community like and earn an income, you're required to declare it with the Internal Revenue Service, or the IRS. In most instances, when you file with the IRS, you will use your Social Security number to identify yourself. But what happens if you don't have a Social Security number? The IRS provides US residents from a foreign country with a unique number that can identify them for tax purposes. It's called an Individual Taxpayer Identification Number or ITIN. An ITIN is a unique 9-digit number, just like a Social Security number, that you can use for identification purposes. If you want to get a car loan and have an ITIN, we can help you get a car loan.

Yes, our Mitsubishi dealership serving the greater Joliet, Illinois area works with ITIN car loan lenders. This alternative tax processing number is acceptable by many of the lending institutions that we work with. Even if you have little or no credit, if you’ve had financial struggles in the past or you have bad credit, our network of lenders can usually help you get a car loan. We have years of experience in helping local people get an ITIN car loan and the chances are good that we can help you.

Yes, once you have your Individual Taxpayer Identification Number you can begin to build your credit. A credit score is based on your past credit history and it's a prediction of your future credit behavior. This number indicates how likely you are to pay back a loan on time based on the information from your credit report. The higher the number, the more likely you are to get a car loan, based on your past credit history. A New Lenox buyer who has a higher credit score will get car loans at a lower interest rate.

Of course, a lower interest rate will make your monthly car payments lower and more affordable. By getting an ITIN, a Plainfield buyer will have the chance to make your payments on time and that will help you build your credit score, leading to lower-cost loans in the future.

A Consular Identification Card, or CID, is a document that some consulates issue to identify a citizen of their country who lives abroad. Foreign governments use this information to collect census data from their citizens and it provides certain protections. Each card holder is given a unique identification number that's displayed on the card. These cards include the card holder’s photo, address, birthplace and the card’s expiration date. A U.S. Consular Identification Card isn't always required but it can help verify your identity when you want to buy a car.

Yes, a down payment helps show lenders that you're committed to repaying the loan. A more significant down payment of the purchase price can help buyers get a lower interest rate. It's also a great idea to repay your auto loan within three or four years to save on interest costs. At Darcy Mitsubishi, we aim for 100% approval and our finance managers welcome first-time buyers as well as ITIN customers. Fill out our pre-approval form to qualify for one of our special finance programs at D’Arcy Mitsubishi in Joliet, IL.