Loans in Japan for American citizens?

calsonic · 14 Mar 2005

Is it possible for an american citizen working abroad to take out a loan to buy a car? Or is it more feasible to get the loan in the U.S.

mr.sumo.snr · 14 Mar 2005

Clarify your status and we may be able to advise. Are you 'working abroad' or working here in Japan? Assuming Japan, do you have a valid work visa? Is your employer a Japanese company - and would they probably act as a guarantor for the loan?

Assuming a visa and a Japanese company: are they happy for you to buy a car - some employers prohibit it (and before anyone says that's illegal, they prohibit it by NOT acting as a guarantor for a loan or by simply telling you that if you buy a car then you can look for a new job - they have every right to do so.)

Lastly - do you have a valid drivers' license? The international license is only for the short-term (though hundreds of gaijin probably drive on one on a near permanent basis) - but anyway, if your employer (assuming a Japanese employer again) knows the regulations they might insist that you change your license to a Japanese one - NOT a straightforward task for Americans.

GaijinPunch · 15 Mar 2005

It is very hard, but not impossible. Same with credit cards. If you're married, it all of a suddent becomes easier. On that note though, I've known Japanese women that have been turned down for credit cards b/c their last name was in katakana... despite the fact they worked in the banking industry and made twice the average salary of men in their age group.

Index · 15 Mar 2005

I didn't have any problems at all getting a loan for a motorbike through the bike shop. Of course you need to satisy conditions: repectable job (that doesn't neccesarily have to act as guarantor-mine didn't), visa (that isn't just about to expire), valid gaijin card with official statement from ward office that it's good....I also had a Japanese girlfriend who filled out the 15000 forms which were all in Japanese, told the guy in the shop we were going to get married soon, and acted as guarantor. One other thing that helped (in many other situations as well actually), was that I had a visa which specified I was university professor (haha). It was just good luck, that the immigration department assumed that because I was working at a university I had to be a professor! Anyway, the entire process took about two hours, and I had the bike three days later.

Didn't have trouble getting a Citybank credit card either-even easier.

DoctorP · 15 Mar 2005

Why would you take out a loan in Japan for a car? Are you looking to buy a new car? It would be easier to get the loan in the US. I just got a signature loan when I bought the wife's car. You can get a loan here, but like a few have said before, it is fairly time consuming. I am in the process of building a home and getting the money for that is a pain in the ***! They will definitely want some proof that you hold a valid job, and a visa. That is what has slowed me down the most! (I work for the US gov't and do not currently have a visa.) If you are planning to buy a new car, they will more likely want a guarantor...if it is a used car you may be able to convince the lot to finance you. (I did that many years ago) It all depends on what you are really looking for.

GaijinPunch · 16 Mar 2005

Why would you take out a loan in Japan for a car?

.0000000000000001% interest.

budd · 16 Mar 2005

"or by simply telling you that if you buy a car then you can look for a new job - they have every right to do so.)"
wanna hear more about this! thanks for posting!
"On that note though, I've known Japanese women that have been turned down for credit cards b/c their last name was in katakana..."
unh!!! that is deep!

mr.sumo.snr · 16 Mar 2005

budd said:
"or by simply telling you that if you buy a car then you can look for a new job - they have every right to do so.)"
wanna hear more about this! thanks for posting!

Well, to be blunt - because you're a gaijin!

If your employer categorically states that they do not want you driving a car, and you go ahead and purchase one (and proceed to drive it!) then they will probably just, very politely I might add, inform you that your services are no longer required. The employer doesn't have to justify their decision; summary dismissal of temporary workers is a worldwide accepted practice.

mr.sumo.snr · 16 Mar 2005

The simplest way for a married gaijin to successfully apply for a credit card is to go the 'family' of 'joint' card route. I managed to get a post office VISA card about nine years ago by getting my then fiancee's father to act as guarantor. But then I realised a United Airlines VISA was a much better bet - Airmiles man! So I just piggy-backed on my, by then, wife's application - no probs! Hell, I even secured a house loan AND a business loan while still on a three-year residents' visa - not easy then and I believe impossible to do now without permanent resident status.

Just remember, unless you're a total dill weed loser, financial institutions will try their very best to loan you their money.

(I just realised that this doesn't really address the topic - but whatever....!)

PopCulturePooka · 16 Mar 2005

mr.sumo.snr said:
Well, to be blunt - because you're a gaijin!

If your employer categorically states that they do not want you driving a car, and you go ahead and purchase one (and proceed to drive it!) then they will probably just, very politely I might add, inform you that your services are no longer required. The employer doesn't have to justify their decision; summary dismissal of temporary workers is a worldwide accepted practice.

That sounds like bollocks.
Fired for driving a car. Got sources? Are these contractual prohibitions?

Why is 'because you're a gaijin' acceptable to impost f**ked up laws? This is rich.In any other country, any sane country, an employer would jolly well have to heavily justify crap like this.

mr.sumo.snr · 16 Mar 2005

There is nothing wrong with the laws - because any intelligent Japanese employer would simply state, upon contracting the gaijin employee, that they either can or cannot purchase and drive a car. If they then subsequently go against the clear wishes of their employer - and I might add work visa sponsor, then this demonstrates an inability to follow instructions and therefore grounds for dismissal from practically any job anywhere in the world.

The original poster's best course of action is to clearly establish that his employer has no objections to his purchasing a car. IME this generally proves beneficial to all those involved. On several occasions local teachers have had their cars bought for them by their boss or supervisor. The teacher then agrees to repay the costs direct to the individual through a monthly bank transfer - with no interest!

If you think your 'bollocks' threshold can take it then perhaps you'd like to know that Japanese public sector employees such as city hall staff, teachers, nurses etc. would, if convicted of a serious driving offence (especially a drunk-driving offence) face further disciplinary action from their employer - and perhaps even face dismissal. Especially if the offence warrants a license suspension and the employee's job requires them to drive.

PopCulturePooka · 16 Mar 2005

mr.sumo.snr said:
There is nothing wrong with the laws - because any intelligent Japanese employer would simply state, upon contracting the gaijin employee, that they either can or cannot purchase and drive a car. If they then subsequently go against the clear wishes of their employer - and I might add work visa sponsor, then this demonstrates an inability to follow instructions and therefore grounds for dismissal from practically any job anywhere in the world.

Even if it is contractually set doesn't make it acceptable nor legal. Case in point, NOVA's 'contract' entries of no-socialisation and mandatory drug testing. Both are illegal, one has actually been ruled as completely illegal and unenforceable by the courts while the other is on the way to getting so. Yet NOVA, evil bastards that they are, keep them in the contract. Why? Because it seems the law is rather toothless, even when contracts are illegal, and particularly when the victims are gaijin. I'd say if it got to court, even if contractual, a company would have to argue very hard as to exactly WHY an employee cant own a private car and I would surely hope the courts slammed the company around like Ali smacking around Foreman.

Another case of corrupt and illogical Japanese Industrial relations law and the toothless watchdogs that over see it.

If you think your 'bollocks' threshold can take it then perhaps you'd like to know that Japanese public sector employees such as city hall staff, teachers, nurses etc. would, if convicted of a serious driving offence (especially a drunk-driving offence) face further disciplinary action from their employer - and perhaps even face dismissal. Especially if the offence warrants a license suspension and the employee's job requires them to drive.

I know all about this. Again in a sane country this wouldn't sit well at all UNLESS the offence and legal punishment affected the employees work in a significant way.

mangaman · 18 Mar 2005

I have no doubt that you are right that some companies in Japan would forbid you to have a car. But think about that for a minute. Basically this is almost slavery. You have basically no rights to do normal activities. mr. sumo snr thinks it is alright, I think it is very very scary, where do you draw the line if you think it is ok if they decide if you can have a car or not? This is the reason I wonder why any sane non Japanese person would work for a regular big Japanese company. However good other aspects of your job is who in their right mind would want to work for/with people who would want to control normal activities such as buying a car, they had better have a very very good reason and compensate you very well.

Index · 18 Mar 2005

mr.sumo.snr said:
Assuming a visa and a Japanese company: are they happy for you to buy a car - some employers prohibit it (and before anyone says that's illegal, they prohibit it by NOT acting as a guarantor for a loan or by simply telling you that if you buy a car then you can look for a new job - they have every right to do so.)

Has this happended to you mr.sumo.snr?

TheKansaiKid · 9 Apr 2005

What seems to me as unreasonable restrictions

is not only limited to us poor picked on gaijin. One of my inlaws worked for a company where he was required to live in company housing even though it was ridiculously small for his family. He said he could afford to buy a house and wanted to, but it was a small sacrifice for "company unity". I think that the Japanese worker is more tolerant of invasive company policy, and that perhaps if you are desirous of employment in Japan you need to become a bit nihonteki yourself. I could see Nova's reasoning behind the drug and nonfraternization policies. Many companies in the U. S. have mandatory drug testing simply because a drugged up employee is not a good employee. Nova spends a lot of money advertising to attract new students and one of Nova's services is a sort of "pay to interact with foreigners" service. If one of the horny teachers sees a nice hottie for a little bit of language exchange (the language of love that is) then Nova stands to lose financially. This is all common sense and morally all teachers no it's wrong so it shouldn't have to be rule, but does writing it down make it so bad?

Boy was that off topic.

now for on topic I think that getting a loan anywhere requires time to build your credit. I wouldn't loan money to someone new to the country that might be leaving soon, so I would say don't expect to be able to borrow money until you have proven yourself stable and credit-worthy. Credit is a privilage not a right.

Loans in Japan for American citizens?

calsonic

先輩

mr.sumo.snr

Gavin Gives Italian Ducks

GaijinPunch

遠いから行きません

Index

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DoctorP

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GaijinPunch

遠いから行きません

budd

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mr.sumo.snr

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mr.sumo.snr

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PopCulturePooka

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mr.sumo.snr

Gavin Gives Italian Ducks

PopCulturePooka

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mangaman

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Index

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TheKansaiKid

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