Answer Your Questions about Military Auto Loans in St. Charles
August 7, 2017
Current service members and veterans of the United States armed forces can qualify for military auto loans in St. Charles relative ease, even if your credit rating is less than standard. You may have questions about this type of financing. Let’s delve into military car loans:
- How is a military auto loan different than traditional financing? Many dealerships are proud to help service members acquire used cars and loans with better terms than standard financing. It is even possible to acquire auto loans with medical debt.
- How do I qualify? All that is required are documentation of service, a favorable record of employment and a minimum monthly income.
- How is this type of financing better than conventional loans? All credit scores are eligible and payment plans can be designed for your budget. The opportunity to increase your credit score can help you with future purchases.
- What about the interest rate? Your interest rate will be competitive with other dealers. The specific amount is determined by individual lenders.
- How long does it take to be approved? After submitting your application, approval is quick and painless.
- What happens after I’m accepted? You will schedule a meeting with the loan officer at the dealership. Please plan to provide a copy of your credit report, a list of references, proof of service and income and any other information that may be pertinent to your loan. If you plan to trade in a vehicle, it should be clean and in good condition.
Learn more about military auto loans in St. Charles from the pros at 5 Star Auto Plaza by calling (636)940-7600.