For military personnel, getting a car loan should be easy, and applying online expedites the process. Military personnel are heroes, as far as we are concerned. For this reason, we connect you with a broad array of lenders who grant car loans for military personnel. Not only does our system help military personnel to get pre-approved much more quickly than going to a bank or credit union, we will help you to get the lowest rates possible.
After you submit your application, speak to your lender about rate specials for active and retired military members. And remember: as a member of our nation’s armed forces, you enjoy stable job security and income – prime factors for a good financing package.
Credit issues are common among members of the armed forces due to frequent deployments and changes of station. Not to worry, we have helped countless service men and women with bad credit of one kind or another. What’s more, many lenders typically require applicants to have at least one year of residence at the same address. However, this requirement is often set aside if you apply through us, as these loan specialists understand the unique aspects of military life.
Application Process for Military Personnel
You want to save yourself the hassles that come with trekking from one bank to another, hoping to find one who supplies car loans to military personnel. Just apply online through our leading-edge system. Once you do this, our Advanced Credit Matching system (ACM) attempts to match you with the optimal loan company taking into account where you live, credit score, money down, and finances. Then you will be pre-authorized to fund the vehicle of your choice.
Military personnel should expect APR’s on a sliding scale, largely based on their fico scores. Here are some estimations:
- Excellent Credit: 6-8 percent
- Decent Credit: 9-14 percent
- Bad Credit: 14-21 percent
Keep in mind, those were just estimates; percentage rates vary dramatically according to location, income, the amount you want, and term length.