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Thread: Lots of Questions About my Big Move!

  1. #61
    Member Hoppie's Avatar
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    Talking about avoiding costs... since I will be moving in from abroad, nobody in the US will take my accumulated European 25+ years of no insurance claim seriously. What lowest possible insurance premium do I need to expect per month? How many zeroes?


    Dutchie

  2. #62
    Member ShannonSoBe's Avatar
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    Matt, ur so badass :p Some of the stuff you say makes me feel like an angel, even when I was younger and eating rolz, tabz, and shrmz like candy. Ahhh good ole days. Anyway....

    Dutchie, it depends on if you want coverage for your car to get it fixed incase you get into an accident or if you just want the lowest amount legally needed. It also depends on your age, sex,driving record, type of vehicle you drive, how clean your record is and more. Prices vary a great deal and they can go up and down with each company. Try www.geico.com (im not a huge geico fan, they just seem to have the easiest online quote system) and they are kind of the most popular car insurance company in the US. Plug in a fake address but very close to where you plan on living if you don't already have your new address figured out. As far as a rough, rough estiamte for you, cheapest would probably be maybe $75USD a month? Again, that is rougher than a whore that just woke up in an alley after Memorial Day Weekend in South Beach ..... so ya, its just a ball park figure, hard to say.

  3. #63
    Member Hoppie's Avatar
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    Thanks, Shannon. Is this excluding any no-claim discount? Because I won't have any driving record, which leads to them assuming that I am the worst possible driver.

    Same, by the way, for credit rating. We don't have that concept at all in Europe anyway. No record, no credit.

    Hmmm... I don't have a criminal record, either. No record, ... ?


    Jeroen

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    Member Catt's Avatar
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    hahahahaha Matt, i heart you. i was thinking along those same lines.... that i can just leave the vehicle registered as it is for a good while.... my 'address of record' is going to be my family's address here for a while anyhow, (cause i will need to have some 'mailing address' until i get my new place), so i was thinking i'd just leave the vehicle registered there. thanks for confirming my own thinking...
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  5. #65
    Member ShannonSoBe's Avatar
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    Dutchie, I don't think we really have " no claim-discounts" its more like, if you don't put down that u had a claim we just wont jack you rates up even higher :p If you can prove that you have had your licence for a little while ( over 6-mo to a year ) i think it is, then you won't be considered a new driver aka dangerous to the insurance companies. If you just got your license or don't have it yet it will be higher at first. Wow no credit rating too huh? How do they know if you are good for paying back a credit card when u apply for one in England? or is it if you have a job, you just automatically get one? I suggest trying to get a credit card w/ a low limit to start with and use it for EVERYTHING. Chase bank seems to give out first credit cards easier than most banks so check with them. Pay it off weekly w/ every pay check. I've been doing this for the past 5 years and my credit score went from 650 ( average ) to 850 ( awesome ) Try to keep the criminal record non existent. :p

  6. #66
    Member Hoppie's Avatar
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    Nearly everything in Europe is based on monthly income. You wave a salary slip and everything starts from there, including loans and mortgages.

    Credit cards over here are not used as credit cards, but as pay cards: they are always linked to a bank account, and you have a draft limit lower than your monthly income. Each month, the bank simply takes out the money you owe them. If you want to be "in the red", you need to specifically arrange this (and pay in body parts).

    If you don't have a job, in Europe you basically cannot get a credit card, end. And, surprise surprise, nobody really uses a credit card except when on holiday or business travel (or increasingly, ordering online)!

    I'll try whatever I can to establish any form of credit rating as soon as possible. Several people already told me that the best thing to do is to take out a sizeable loan and stupidly pay it back in monthly installments, bleeding lots of interest in the process.

    Ha, the fun of starting the life in the USA... nothing is straightforward!


    Dutchie
    Last edited by Hoppie; 06-16-2011 at 03:59 PM.

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    Member ShannonSoBe's Avatar
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    Interesting Dutchie, I learned something new



    Its harder to take out a bank loan than get a simple credit card with a $1,000 limit if you don't have credit. If you want to build credit by taking out a loan, do so but pay on it for about 5 months, then in the 6th month pay it all off to avoid paying any more interest. They just want to see that you are responsible w/ having money in your hands. To get your credit report in America most places charge you or make you sign up for some service / membership for something and you get free credit reports with it. Don't let those trick you, by law ONE place HAS to give you a free credit report at least once a year. It is www.annualcreditreport.com You will see 3 different ( main ) credit reporting companies on there, you can look at each one all at once or you can space it out ever so often if you want, but each one has to give you ONE free report per year. To get the actual credit score ( basically a number that rates how good you are w money like you would get a grade in school ) you have to pay about $10 to one of these sites. I would go with transunion, they seem to score a little higher than the rest. I do this every year to see how much better my score got from the year before.

    Its amazing how much there is to lean when moving to a new country or even a new state in the US sometimes.
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  8. #68
    Editor Matt Meltzer's Avatar
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    I think America's economy would collapse if everyone was forced to live within their monthly means. That's pretty impressive. Paying for everything is "cash" is the way to go, it's a shame more people here don't get that concept.

  9. #69
    rk
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    Dutchie, re. car insurance, please check for rates online at a few places, and also when you're ready to buy a car compare prices by calling or emailing a few local agents. South Florida has some of the highest rates in the country, partly due to weather and partly due to high accident rates. Your best plan for reducing your payments is to buy fewer cars, less expensive cars, shop around, and ask for high deductibles.

    Re. your credit, you don't need to do anything special. It's very easy to get a credit card from your bank. Maybe initially your limit won't be very high but this is rarely a problem. Your credit history will build up over time automatically as you use your card for everyday things, no need to take out a special loan or anything. In any case a good credit history is only relevant if you're planning to take out a big loan such as for a house, which it doesn't seem like you're planning right away.

    As Shannon pointed out you can check your credit report for free 3 times a year at http://annualcreditreport.com/ You can also get your "credit score" (which is a number between 0 and 850) for free as often as you like at http://www.creditkarma.com/ We discussed this in another thread a few months ago. It's a long thread but if you start at the following link start reading from post #109 onwards:

    Condo Rental Scam

    Here is what I posted back then about getting the credit score:
    You can sign up for a free membership at http://www.creditkarma.com/ and get your credit score. It really is free, not a scam, and they hope to make money with advertising. There are also useful tips on what makes the credit score go up and down, and you can track your score over time.

  10. #70
    Senior Member Doug's Avatar
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    I often go by that credo: "Jump off the cliff and build your wings on the way down." Somehow, things always seem to come together!
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  11. #71
    Member ShannonSoBe's Avatar
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    I think America's economy would collapse if everyone was forced to live within their monthly means.
    Haha. True.

    Paying for everything is "cash" is the way to go, it's a shame more people here don't get that concept.
    I would if always using a credit card didn't work wonders for my credit report / score and if I didn't get about $25 a month in cash back rewards credited to my account. :P

  12. #72
    Senior Member Doug's Avatar
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    Default Re: Lots of Questions About my Big Move!

    Quote Originally Posted by Matt Meltzer View Post
    I think America's economy would collapse if everyone was forced to live within their monthly means. That's pretty impressive. Paying for everything is "cash" is the way to go, it's a shame more people here don't get that concept.
    Au contraire, I think many people get that concept, but when their rent exceeds half their monthly income and groceries are going through the roof, the reality on the ground is that many people have to depend on their cards just to make ends meet every month.
    Last edited by Doug; 06-16-2011 at 07:35 PM.

  13. #73
    Member Maria de los Angeles's Avatar
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    Default Re: Lots of Questions About my Big Move!

    Quote Originally Posted by Jess View Post
    Maria, go to the DMV in Kendall and make an appt. They are great there. I made my appt and walked right in, no wait. I would go back there no hesitation. (It's waaaay down in SW, by Tamiami airport)

    Jess, thanks for the great tip! I actually look forward to spending a day in the Keys though ... great excuse to stop by some of my favorite spots

  14. #74
    Editor Matt Meltzer's Avatar
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    Well, DOug, I get that, but if EVERYONE lived within their means, rents would be lower because nobody could pay that much. Like a supply/demand thing. Probably an insanely complicated conversation that only rk could fully explain to any of us, so I'll just leave it at that.

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