Military Car Loans

Military car loans are
loans to active duty or retired
military personnel to help them
in financing an automobile.  In
today’s society, an automobile
is no longer a luxury.  It is a
necessity.  Military personnel
and their families need an auto
mobile just as much as civilians
do.  And there are lenders who
specialize in offering military
car loans with competitive
interest rates.

There are military car
loans to help finance the
purchase of both new and used
cars.  Military car loans
can provide financing for servicemen and women on active duty to help them purchase a new or used vehicle or to refinance their higher interest rate loan. Because of the camaraderie among active duty forces, many young soldiers find themselves wanting a new car instead of an older model car.  In the civilian world, most of these young soldiers would not be able to finance a brand new car.  But with many of the military car loans available today, they can finance a new car and have their payments automatically deducted from their paycheck.

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]In many ways, the young soldier and other active duty personnel are seen as good credit risks to lenders.  Unlike other young men in the civilian workforce who may be in and out of the job market before finding their career niche, young soldiers and active duty personnel are government employees locked into service for a set number of years.  Their monthly payments are automatically deducted from their paychecks.  So lenders who finance military car loans often see them as low-risk applicants as long as they have a credit history of repaying past debts and haven’t gotten into financial difficulty before.

Financing is normally provided for up to 100% of the purchase price. This applies not only to new cars, but to used ones also. Used cars that are listed with the National Auto Dealers Association Guide can be financed or re-financed for up to 100% of the retail value. The purchased vehicle is allowed unrestricted movement within the continental U.S.  To move it overseas, the buyer will need proof of current insurance.