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It’s no secret that buying a car costs $$$. We’re talking an amount of green that many of us don’t have in the piggy bank either. When it’s time to find a car, it’s likely the time to find a loan. If you’re looking to find a car that’s not a $500 beater, going the loan route just might be the only option for you. If you have never gone through the process of getting a loan, it’s not impossible but you’ve got to be careful. Jumping into a loan can be easy, but managing it and getting out of it takes some tactics. If you are new to the game, then this article is for YOU!
The first part of getting a loan is being approved. Loans typically require some measure of good credit and if you haven’t really had the chance to establish credit yet (Or if it is horrendously bad), your loan options are going to be significantly reduced. If you find yourself in this boat, don’t worry! There is a an auto financing source that is available to help active duty military with low credit. This is called MILES (Military Installment Loans and Educational Services). It’s really easy to get approved for a MILES loan. Instead of approving you solely based on credit, MILES takes into consideration factors such as your rank, estimated time in service, pay entry base date and debts. Keep in mind that getting approved is only the tip of the iceberg!
After you’ve been approved for your MILES loan, the next step is understanding it. Considering that the second half of the acronym of MILES is “Educational Services”, MILES will make sure that you understand your loan in its entirety. Just take a look at their FAQ, they cover every question that you can throw at them! MILES will provide you with a MILES Loan Specialist to ensure that you have a thorough understanding of how to build your credit, buy within your budget and provide advice of how to maintain and protect your new investment. They basically spoon-feed their customers throughout the entire process. Being spoon-fed every once in awhile is an incredible convenience. No shame in that!
With MILES, they understand the importance of you being fully aware of every detail of the loan process. A requirement of the MILES program is going through their vehicle purchase training. And believe me, “good” does not even come close to describing this feature of their service. MILES will transform you into the ultimate educated buyer. You will be able to see the pros and cons of which car you are looking to buy on the spot. That way, you won’t even come close to being in danger of getting ripped off. The genius that MILES will instill in your buying bones doesn’t stop with purchasing a car, but it extends into every other aspect of owning and paying your car off. MILES will even guide you to settle into the best insurance plan for you.
Well there you have it folks. From start to finish, MILES will ensure that you achieve success in getting your next car. When all is said and done, you will end up with the right car for you AND a great credit score that will come in handy for future purchases. Whether it be a house or a gold fish, the smarts that you’ll get from your MILES experience will be at your disposal to set you up for the most educated purchase possible. I am in no way officially affiliated with MILES. I am just a huge fan of how much they care for the military community. There is so much more to MILES than I can cover in a simple article so if you’re interested, head on over to the MILES website to learn more about their service. Best of luck with your next car buying experience!
