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If you currently serve in the military or have recently retired from military service, you may have gotten offers for a military car loan. But what does it mean and can these programs help you save on your next car purchase? Learn about what military car loans can – and can’t – offer you on your next Indianapolis or Speedway purchase, then fill out our convenient online application at Indy Car Finance and get started today.
The Pros and Cons of a Military Car Loan
If you’re in the military now or have retired after serving honorably, you may qualify for a military car loan. If you do, you can take advantage of some enviable perks like:
- Lower Interest Rates – These offers often feature lower rates due to the applicant’s preferred status as a military member.
- Lower Down Payment – Because this is a special offer geared at a select group, buyers can look forward to a lower down payment than many mainstream loans.
- Longer Terms – In many cases, drivers can take advantage of longer loan terms that can make loan payments more affordable for cash-strapped service members.
While all of these points can make military loans attractive, there are other points to consider:
- Not Privately Held – Although advertised as military loans, these types of contract are held by public institutions.
- Higher Debt – While the idea of easy approval and longer terms is attractive, it can lead to buyers overextending their credit.
- Not Everyone Qualifies – If you’ve recently left the service, or retired short of 20 years, you may not actually qualify for the loan you’re being offered.
Let Indy Car Help
If you’re in the market for a new or used car and want the lowest rate and best possible value regardless of your past credit history, trust the experts at Indy Car Finance to help. We’ll guide you through the process from start to finish and make sure that your loan is exactly the right one for you.
Explore the Military Car Loans That Can Make Your Indianapolis or Speedway Purchase Possible
Learn more about the options available to you, including military car loans, to make your Indianapolis and Speedway purchase more affordable. Contact Indy Car Financing at (855) 468-6215 or stop by Speedway Chevrolet at 5252 W 38th St in Indianapolis to get the financing you need.