If your single and in the military, is it true that you can get just about any car financed?

With the exception of 6 figure cars. People have told me if you were single and getting your housing paid for by the U.S. You can get really nice cars, boats, houses, etc..


financed for you. Because of your obligation to the military and what not. Just wondering.If your single and in the military, is it true that you can get just about any car financed?
Depends on your rank.


A private isn't going to get financing for a 2008 Corvette,


but a Four Star General can.If your single and in the military, is it true that you can get just about any car financed?
If you are single and in the Armed Forces of the United States, you will live in housing called ';barracks'; and you will not be entitled to such perks as government financing. You will be paid a standard rate, fed, housed, clothed and provided health care. That's it. Even if you're married and live with your spouse in government housing, you will not be entitled to government financing for autos, boats and the like. Arranging financing for such purchases is entirely up to you - and if you default on such financing, you can be courts-martialed. So don't fugg it up, eh?
Most reputable auto dealers use the same criteria for lending to military members as they do the general population. The criteria usually includes income, monthly expenses and credit ratings. So, members of the military in lower ranks who make less would probably not qualify for the more expensive cars.





There is a second aspect to this question. Some auto dealers around military bases prey on military servicemembers who are looking for a car, since many single servicemembers have both disposable incomes and the ability to pay for the cars through allotments. In some cases, these auto dealers will finance cars for servicemembers whose credit or income would not otherwise justify. Sometimes, the finance charges are very high on such loans. The auto dealer is happy though, because the payments are basically secure through the use of the servicemembers' allotment to the dealer or finance company. The same is true for many other things that can be financed to servicemembers, including electronics, furniture. etc. For more information about lending to the military see the Military Loans Resource Center at http://www.militarynewsnetwork.com/
Nope,





Actually most car dealers, won't even talk to anyone unless they are an E-4.





Of course, that has changed slightly, now that everyone is deploying to Iraq and have money saved up.





But they have a formula they use.





They look at your LES, and see what allotments you already have.





Then your allowed either 35% or 40% of your base pay, to make a car payment.





Then they look at your ETS.





And calculate, how much you can pay off, before your ETS.





IE: They do not like to give, first term enlistees, car loans, longer than thier enlistment contract.





So for an E-3, with 3 years left in service.





They would let you buy a car, for $16,000.





Thats 1275 base pay after tax's, times 35% = 466 a month





Times 3 years = 16,000





Of course, the more you pay in advance, the more you can borrow.





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They pretty much, make all first term enlistees, pay the car off, before they ETS.





After you reenlist once , they will give longer loans.
actually yes and no. i wouldnt say ANY car but car dealers feed off e-1 thru e-4. they know you will get a steady pay check and can pay your car thru allotment. they wil get you to purchase a car thru the miles program where you are guranteed a car and your financing will be very high. it doesnt matter if your single or not. money is money. i have seen it happen alot and believe me i dont have the best credit in the world but have had a couple offers on expensive cars
NO... it still depends on your credit just like everyone else... but they do sit here and give you a lil bit better in the do you have a job thing, because they know you cant get out that easy sometimes.....


but no you cant just get everything you want because you in the military
No.


Most car places wanna know your rank. If you tell them E1, E2, E3, you will get laughed at. NCO, then there are plenty of car lots that will sign you up no matter what your credit
Whatever, but if you're enlisted you don't make much anyway so it'll take you decades to pay for that small vehicle.
If you are an NCO (E-4) or higher you will find it easier to get credit as the creditor will know they have means of garnishment available to them in event of default.
Not true.

scene hair