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Victor Martin
Victor Martin

Military Benefits For Buying A Car

Buying a car is a major investment. To get the best deal, military servicemembers and their families need to be well prepared buyers, learn how to avoid scams and shady sales practices, and take advantage of the special offers and protections available to military buyers.

military benefits for buying a car

Getting a new car is exciting. Sometimes, the desire to get your dream car can lead you into paying more for a car than you should. Be sure that a car expense fits into your household budget. Account for all the costs that go into buying a car, including what you'll pay for maintenance, insurance, gas, and registration.

Most vehicle purchases are financed. The most important factor affecting your ability to secure a low interest rate on this loan is your credit score. Don't wait until you're ready to buy a car to pay attention to your credit. Check your credit regularly so you can take the right steps to improve your credit score. If you have bad credit, it may be wise to put off buying a car, or buying a cheap, used car as a stop gap. Don't commit to a high-interest loan, such as the ones offered by "buy here, pay here" car lots.

Military car-buyers must be extra cautious when securing an auto loan. Their special circumstances make them a prime target for both good and predatory lenders. Fortunately, there are also special resources for military servicemembers and their families. The Consumer Financial Protection Bureau recently opened the Office of Servicemembers Affairs (OSA). The OSA is an important tool to help you stay informed about your financial rights and to protect you from abusive practices.

As a member of the military, you may have access to some help that is not available to the general public. Take advantage of it. Speak with an on-base financial advisor or see if you are eligible for any of the resources available through Military OneSource. Before you sign it, see if an expert can review any sales contract a dealer presents you to ensure that you're not being taken advantage of or sold unnecessary extras.

Military personal are often eligible for special loans and discounts on car purchases. When buying a car in the military, however, you still need to budget wisely and do your research before making this major investment.

The BMW Military Incentive is a special offer for service members that includes $500 to $11,000 toward a lease or new vehicle purchase. You must confirm your military status online to take advantage of the offer.

Ford's Military Appreciation salute is exclusively for active-duty military personnel, retired and veteran members, spouse or surviving spouse and other household members. The offer is good toward the purchase or lease of an eligible new Ford or Lincoln vehicle.

All active duty, Reservist/National Guard, veterans and retired military personnel will receive an additional $500 off new Hyundai vehicles distributed by Hyundai Motor America through January 2, 2024.

Subaru offers a special discount to active-duty and reserve members of the military, as well as veterans and retired military within 12 months of their date of separation. For complete program details and eligibility information, contact your local participating Subaru retailer.

Toyota salutes the U.S. military with a $500 incentive that can be applied toward finance or lease contracts on new Toyota vehicles through participating Toyota Dealers and Toyota Financial Services. This offer is valid through October 3, 2022.

Military AutoSource offers special military offers and incentives, lowest price guarantee, special factory and military lender financing rates. Take delivery of your vehicle at your overseas duty station, or have it delivered stateside when you return.

Volvo offers unique benefits for military personnel on a tour overseas, including exclusive pricing, three years of complimentary maintenance, four years of warranty coverage worldwide and home shipment.

Want the scoop on military discounts? From travel to phones and everything in between, troops, military families and veterans can stay on top of military discounts. Become a subscriber and get full access through our newsletter.

We have grouped information, forms and links together based on what your needs are, for example, requirements for new residents, the process for transferring your vehicle, determining inspection requirements, applying for military plates, etc.

We understand being in the military creates special situations when being relocated from one state to another, or from one country to another. Hopefully the tips and guidance we have gathered for you will help to eliminate some of your stress, or even make your relocation a breeze when it comes to your vehicle.

If you order new military plates with a new design or an ISA to replace your existing military plates, a new plate number will be assigned. Disabled Veteran plate numbers will not change if an emblem or an ISA is added. When you receive your new plates, please surrender the old ones to your county tax assessor-collector so they may be destroyed or recycled.

Military Benefits for Military Service Members, Veterans, and Spouses are extended to those applying for a new license or currently licensed as a motor vehicle or salvage dealer, converter, manufacturer, distributor, in-transit operator, lessor, or lease-facilitator. If you are current or former military, or a military spouse, you may qualify for a waiver or reduction in fees, expedited processing, or a waiver of requirements. The table below outlines the qualifications necessary to receive these benefits. For more information about dealer licensing, please visit our Dealers page.

If you are the spouse of an active military member and you currently hold an active motor vehicle or salvage industry license in another state, submit the Military Spouse Exempt form for verification before you apply for a Texas license. You may be eligible to operate as a license holder.

Veterans and current military personnel face unique financial challenges, both during and after their service. According to Pew Research, 27% of veterans found it difficult readjusting to civilian life. One such adjustment that vets may find difficult is managing new financial responsibilities at home, such as purchasing a car.

There are currently no general Veterans Affairs (VA) programs centered around helping vets purchase a new vehicle. However, there are specific programs that exist to cater to veterans facing extenuating circumstances. For example, the VA Automobile Allowance and Adaptive Equipment program assists anyone with a disability due to military service that hinders them from driving. This helps veterans with disabilities purchase vehicles that are adapted to their needs.

Several considerations go into knowing how much car you can afford. First, how are you planning on buying a car? If you intend to use financing options like auto loans, your budget can vary widely depending on things like:

Fuel and maintenance are intrinsic costs of owning a vehicle. However, you may be able to lower these costs depending on the type of vehicle you buy. For example, buying an electric or hybrid vehicle can help severely cut down on fuel costs, and in some cases eliminate them.

Military car loans come with a variety of benefits, including lower interest rates, lower down payment requirements and federal protections. But remember, even with a military loan, the same risks of borrowing apply including that you may not be able to make the payments.

Many major car manufacturers offer new car discounts to military members and veterans. Depending on the manufacturer and dealership, you may be able to stack your discount with other offers and promotions.

Active duty military, Reserves, National Guard, Coast Guard and retirees and veterans are all eligible for this offer. Spouses of members of each of these categories are also eligible. You are also eligible if you or your spouse is a veteran within one year of separation from active duty or you are a Gold Star family member.

General Motors offers eligible military members a military discount program for GM vehicles, including Buick, Cadillac, Chevrolet and GMC. The GM military discount program allows eligible military members to purchase vehicles at prices lower than MSRP. However, GM does not require dealers to participate in the GM military discount program, so check with your local dealer to find out if they particpate.

You can verify your military service through on the GM military discount page. Once you verify your service, will give you an authorization number. Bring that number to the dealership to get your discount.

Kia offers military discounts to active duty, National Guard, Reserves, military retirees, and veterans with a disability rating (any level). Spouses of people in any of these categories are also eligible for the discount.

Mazda currently offers a $500 Cash Military Appreciation Bonus for military members, including spouses and children of those who qualify. You can combine this program with public offers, including lease offers, customer cash back and APR incentives, and the Mazda Financial Services Lease Loyalty Reward or Mazda Loyalty Reward programs.

Both services make it easy to buy a car at a prearranged price so you can avoid haggling with dealerships. Some of these purchases may allow you to stack military discounts, while others may not: check with your dealership for more information.

The tax filing deadline for combat deployed military personnel (those who served on active duty as members of the U.S. armed forces in combat activities during a period designated by the President) is extended until 180 days after such deployment ends.

Military AutoSource is the official overseas military car-buying program for U.S. specification Nissan vehicles. We offer exclusive military discounts and benefits on Nissan vehicles to active members of the U.S. military, civilian component and the diplomatic community stationed overseas. We will help you find the right Nissan to fit your needs! Choose from a large inventory of vehicles in-stock or custom order your Nissan to your exact specifications. Order your vehicle while stationed overseas and have it delivered Stateside. 041b061a72


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