Military Automobile Loans?
Written By: admin on October 29, 2009
One Comment
My husband and I are new to the military and are shopping for automobile financing. A lot of places I’ve been finding online are "quick" and "terrible credit ok!"- this puts me on guard. We both have a excellent credit, and are looking for a decent rate. Anyone have any insight or lenders they’ve used? We’re looking for a 13,000 dollar loan
I don’t really want to go through the dealer for financing since my dad owns the dealer (we’re getting a excellent price) and our finances will be available for him and the finance manager to view. It’s not a huge deal- I just despise having my parents in my finances.
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Tags: automobile, bad credit, dad, decent rate, dollar loan, finance manager, insight, lenders, Military Loans, parentsTags: automobile, bad credit, dad, decent rate, dollar loan, finance manager, insight, lenders, parents
Look at some of the military banks and credit unions out there. PenFed is offering 3.99% but they may not finance you if you don’t have a lot of things on your credit report. Navy Federal is more leinent but their interest rate is a small higher, around 5.25%. USAA offers excellent deals but they can go either way.
Whatever you do, be careful and read all of the terms and conditions if you pick anyone other than those three I mentioned. Some are strictly out there to rip you off and will go as far as having your husband sign a waiver allowing them to contact his chain of command if anything goes incorrect because otherwise it would be illegal for them to contact his boss to discuss the loan according to the Honest Credit Reporting Act.