Military Auto Loans Used Cars Fort Lauderdale Florida
The Autoblock offers low cost auto loans to our military personnel in Fort Lauderdale Fl. If you are active or retired military call one of our qualified loan specialist today at 954-764-7598 and see how we can help you.
Whether you are active duty or reserve in Fort Lauderdale Florida, you may qualify for additional incentives and benefits when you apply for military personnel financing. This special type of financing is custom tailored for members of the armed services. The Autoblock of Fort Lauderdale provides financial and credit solutions for service men and women, and they can also work with you on the unique difficulties of financing a car while in or out of the military.
Why Military Personnel Financing is Different
Military personnel have several distinct advantages over your average car loan. When lenders look at a prospective borrower, there are a few key factors they judge you on before determining how big of a risk you are to lend to. Some of the most important are credit score, length of employment and monthly income.
- Credit score – your credit score is basically a mathematical report card on how reliable and trustworthy a borrower you are
- Length of employment – this shows lenders that you are reliable and can hold down a job long enough to pay them back
- Monthly income – lenders want to ensure that you actually have the means to repay your loan
Being a member of the armed forces automatically puts you at a big advantage for several of these factors, and it gets you much better deals on auto loans. Your job security is obviously rock solid; not many employers have a better line of credit than the federal government. Lenders see your source of income as very reliable, and they know you will be paid on time, every time. This all makes your application look much more secure.
You will also receive lower interest rates than you normally would, even with a bad credit auto loan. This is just another thank you given in recognition of everything you do and sacrifice for our country. Even a reduction of one or two percentage points can equate to a lot of money saved in the long run, as shown in this table: