Cars for Military and Ex-Military: Useful Information and Interesting Stats
It can seem like a daunting prospect to buy a car. It’s particularly daunting for certain groups of people who are weighed down by other issues and responsibilities in their lives. One such group is America’s military personnel. Many are just returning from a deployment overseas. While trying to acclimate back to a normal life, they’re faced with a million little decisions. One of these might very well be getting a new car.
To buy a new car, most people have to sort through a myriad of different financing options. For many military families, there is simply not the means to spend endless amounts of time making financial decisions. It may very well be a struggle to facilitate a major purchase at all.
Yet according to a recent study, about 50% of military personnel plan to purchase a vehicle sometime in the next three years. Approximately two-thirds of those expect to finance that vehicle and are quite well prepared for the event.
Americans Well-informed on Automobile Retailing Economics (AWARE), the non-profit auto financing education group behind the study, discovered that that people in the military are more likely to understand the process of buying and financing a vehicle than the average consumer. They are also more likely to actually take the time to research their buying options before making any kind of decision.
Military respondents also demonstrated a higher level of comfort with the vehicle financing process compared to their civilian counterparts, with about three-quarters of the military personnel saying they felt informed about vehicle financing.
For military spouses in particular, having a car is seen as a major boost. Not only can it improve earning potential by creating the opportunity to commute to better paying jobs, it offers the potential for more quality time spent with family.
Economic challenges make research an essential component for making sound vehicle financing decisions. For many military families, such challenges include debt troubles or the struggle of living on a fixed income. Interestingly, the military supports financial education programs, many of which are offered through the Department of Defense. Since there are also many civilian resources, it seems that America’s military members are setting a fine example that other Americans would be wise to follow.
This is some of the general advice that military members and their families appear to be following when it comes to making a car purchase.
Number one: Before visiting the dealership, be sure you know what you can afford. Resolve to stay well within your limits financially. You should also know what type of car you really need (versus what you
About the Author:Tim Cartwright writes for AutoBidsOnline.com, a place to research car prices, new car comparisons, reviews, and much more. Build your own car spesifications and get competitive quotes from car dealers in your areas.
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