Military Auto Loans for Personnel with Damaged Credit

February 5th, 2010 by admin

It’s no secret that military service can be tough on your credit.  This can be attributed to three factors that go hand-in-hand with military life:

Frequent Change of Residence:  many auto lenders prefer applicants who have lived at the same address for a minimum of 6 months.
Deployment Abroad:  the rigors of deployment, not to mention combat, make keeping track of finances a real challenge.  It’s easier to miss payments with so many distractions.
Low Pay:  the average income of military personnel is far below that of the US household average.

For these reasons, it’s recommended to search for military auto loans through a lender who understands the challenges of the military lifestyle.  Many such lenders and car dealers realize that the military affords much greater job security than civilian life, a low-risk factor which offsets some of these previously mentioned challenges.

Posted in Autos