If you are in the military, you have sacrificed your life to serve our country. Since this is quite a commitment, you will often see military members receive little things at restaurants, such as a discount or free tickets to the movies. Despite these small discounts, there are also more considerable perks such as VA loans for houses and military auto loans in Mukilteo.
What is a Military Auto Loan?
The main difference between a military loan and a regular car loan is that a military loan is for someone who is actively serving in the military or has retired from the military. There are also outstanding loans available for those active or retired from the reserves and also military spouses.
Lower Interest Rates
Military auto loans will typically come with lower interest rates than other loans. For example, if a non-military member is offered a 10% interest rate on their car, a military member may be offered the same car at 7%. Only a few points can make a huge difference.
Lower Down Payment
When applying for a military auto loan, you will also be offered a lower down payment. This means you pay less money upfront. This can be helpful if you cannot save up a large sum of money before purchasing your vehicle.
As compared to standard car loans, military auto loans allow you to purchase a vehicle even if your credit is lower than average. This will also come in handy, especially for younger people who do not have a long credit history.
If you have retired or are currently serving in the military and looking to purchase a car, then you may way to look into military auto loans in Mukilteo. If you do not know where to start, contact us at Carson Cars by calling (425) 697-6969.