# Buying a Car & Bank Account



## Liz&Bill (May 15, 2008)

Hi, Can anyone tell us what documents are required to buy a car for use at our holiday home in Oregon. Procedure for opening a US bank account before we arrive would also help.

Many thanks


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## twostep (Apr 3, 2008)

State of Oregon: Oregon DMV
This should answer your vehicle registration related questions. You need proof of insurance at registration.


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## Fatbrit (May 8, 2008)

Liz&Bill said:


> Hi, Can anyone tell us what documents are required to buy a car for use at our holiday home in Oregon. Procedure for opening a US bank account before we arrive would also help.
> 
> Many thanks


Seems Oregon will give you a license with an I-94 looking at their site. It'll probably only be valid until the end of your visit though, so you'll probably need to renew it every time you arrive. You'll probably also need to take the test for your first one -- don't worry it'll be easy! Certainly worth doing as it will greatly reduce your insurance bill, and you'll also find it very difficult to buy a car off a dealer without a license..

You need to search the site to see if you can cut the insurance when you're not here. Most states have some sort of arrangement when the vehicle is laid up in a garage and not being used. You'll also need to find an insurance broker. With a new driver license and no credit history (nor much chance of establishing one), expect to pay a premium. shop it around, and you might find it cheapest with the small independent brokers rather than the big advertisers.

Be warned that the folks who staff DMV offices are not the finest face of America. Polite but firm, and if you don't get it first time, try another office/person. Don't be surprised if they make up everything they tell you as they go along.

US bank account before you arrive is difficult courtesy of the Patriot (Paranoid) Act. Only one I've heard of (apart from some decidedly dodgy ones!) is the Wells Fargo office in Canary Wharf if you live nearby. 

But opening a bank account here is pretty quick and painless. You'll need your passport and some other official looking ID. Stick to a checking account since interest-bearing accounts will be complicated due to your status.


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## synthia (Apr 18, 2007)

DMVs seem to have improved over the years, and Florida's are excellent, and even Maryland, which had the worst I had ever encountered (I've changed state residence seven times) has apparently cleaned up their act. So it may be a simple and smooth experience for you.

I spend a considerable amount of time out of the country, and have my car insurance changed to an off-road storage rate. I recently considered changing insurance companies, and discovered that some don't offer the off-road rate. Be sure to check on this, because Florida has a high rate for off-road, as they make you keep the liability section, and it is still only 1/4 the on-road rate. So be sure to ask about that when you get insurance. Also find out if you can renew your car registration and license on line, which makes it all a little easier.

Opening a checking account is easy and quick. Even if you could open one in advance, it would probably be very complicated and save you very little time.


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## vwrw (Sep 20, 2008)

I was under the impression that you could not open a back account without a social security number. No one seems to mention that. Am I wrong? I needed a passport, and social security card.


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## Fatbrit (May 8, 2008)

vwrw said:


> I was under the impression that you could not open a back account without a social security number. No one seems to mention that. Am I wrong? I needed a passport, and social security card.


You do *NOT* need a social security number to open a bank account.

However, if you have been issued a ssn, you must disclose it.


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## vwrw (Sep 20, 2008)

Thanks, I appreciate knowing that.


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## synthia (Apr 18, 2007)

If your account pays interest, then you will need at least a tax identification number, which will look like a social security number and allow the bank to report your interest income to the IRS, if you receive enough to report. The Social Security Administration will issue it, I believe. They are easy to get, and don't even require resident. Some organizations, including financial institutions, are authorized to help you get the number. Check the explanation under ITIN (Individual Tax Identification Number) here on the IRS site and the links to the Social Security site.


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## Fatbrit (May 8, 2008)

synthia said:


> The Social Security Administration will issue it,


Grrr!

The IRS issue it, not the SSA.


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## JimAtJaxtr (Sep 5, 2008)

As far as banks go, you may look for Bank of America, U.S. Bank, or Wells Fargo (I think they've been mostly untouched with all the upheavals in the financial markets). ING Direct is an interesting idea for portability, but it still needs to be linked to another account.


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## coolbadger (Sep 17, 2008)

*US bank account*

Hi there. 

I have opened a Bank of America account in the past week without a SSN or ITIN. 

But DO take lots of ID. Passport, Driving Licence etc. Just shows you are being open with nothing to hide. 

Bank of America could not have been more helpful. I left the branch with three accounts (primary & secondary current accounts and savings) plus a Visa Debit card in my hand.

I tried local banks with no joy whatsoever, but they did try and were most helpful.

No real info about car buying (as yet!) but there are some rather good deals out there!

Hope all goes well for you.


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## synthia (Apr 18, 2007)

The car deals are really good if you don't drive a lot. Someone who works at home and doesn't use the car a lot can afford to ignore the high gas prices and buy a gas guzzler, and they are going cheap, especially those that are only a couple of years old. People just want out of the car, and i many cases are unable to trade them in.


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## hdawno (Oct 1, 2008)

When me and my husband moved to the US from England, he needed a social security number to open up a bank account. He got one, then openedup an account, then as i never had one, it was ok as i was put on as joint account holer with him, but him being the main bank account holder. 
When we brought our car in the US, the car insurance said we could have insurance as long as we intended to get a US licience. Which we did. Our insurance only requires the main policy holder to a US licence. But that's just our story. 

Hope thats of some help

Good luck!


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## stevejohnson (Oct 1, 2008)

They are easy to get, and don't even require resident. Some organizations, including financial institutions, are authorized to help you get the number.


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