Military discounts allow soldiers and their families to save a lot of money on car purchases. These discounts make it possible for members of the U.S. Armed Forces with poor credit or other financial concerns to buy vehicles that are necessary to run their lives. While shopping for a car, active and retired military personnel should be aware of potential military discounts.
Discount Terms
Terms and qualifications for military discounts on cars can differ among dealerships. Some military discounts may be restricted to active duty military, while others may not include reservists. Other terms affect the amount of the discount, whether or not retired military personnel qualify, or whether family members may also qualify for the discount. Another consideration is whether or not specific dealerships allow customers to combine military discounts with in-house car financing packages. Before choosing a dealership to purchase a vehicle from, military families should find out the specific terms of any military discounts available.
New or Used Cars
The availability of military discounts can affect the choice made between buying a new or used car. Financial factors like creditworthiness and household income play a part in the available car payment budget, and the effect of a military discount can make that budget go farther.
A late model used car with low mileage and a solid service history is, more often than not, the most effective use of a vehicle financing budget. Cars that fit that category provide reliable transportation, are often as fashionable as brand new cars, and include the amenities that make new cars more convenient and attractive. After a military discount is applied to the price, a late model used car can be as inexpensive as an older, less reliable used model.
Discounts and Bad Credit
The fact is, dealerships that specialize in affordable used cars are more likely to provide attainable financing packages for shoppers with bad credit than those specializing in brand new cars. Even if your military discount makes a new car more affordable, you still may not qualify for the car loan you need to finalize the purchase. It is important to find a reputable dealership that offers both a military discount you qualify for and financing that suits your current credit rating.
A military discount can save you thousands of dollars on your next car. While determining the budget you can afford based on your income and monthly household expenses, research dealerships that offer military discounts for you and your family.
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