Portland, OR (PRWEB) January 06, 2014
Every year, more than 100,000 military personnel will purchase a car for the first time. According to the United States Department of Defense, these young men and women come from all different social and ethnic backgrounds, but for most of them they are receiving their first “real” paycheck of their lives through the military.
Unfortunately, the Department of Defense also found that many military personnel are being taken advantage of by unscrupulous lenders and car dealerships. Complete Auto Loans compiled a list of common scams and deceptive practices that are used in the auto lending industry, with the aim at preventing service members from ending up in debt and bankruptcy due to car purchases.
Complete Auto Loans is clear that military personnel should actually expect better loan rates and interest rates than the rest of the population, as military personnel have steady jobs and above-average wages for their age brackets. Unfortunately, Complete Auto Loans found that many dealerships next to military bases offered artificially high interest rates on popular cars as a way of making additional profit on young people who are too inexperienced with car shopping to know any better.
Rob Kaiser, marketing director at Complete Auto Loans, had a few things to say about personal responsibility as well. “Many men and women in the military feel that they should be buying the newest and fanciest cars on the market, but this simply isn’t the case. No one should feel pressured to spend beyond their means, and there are plenty of solid reliable cars on the market that are much more suitable for military personnel than the sports cars, luxury vehicles, and SUVs that litter the lots of car dealerships around major posts.”
Complete Auto Loans is an online auto lender that deals with many military applications each year. Complete Auto Loans believes that military personnel need some type of advocacy in the car loan world, so they do their best to provide additional services (like education and loan comparison) to military families that are looking to purchase cars, regardless of credit or job history. Complete Auto Loans is based in Seattle, and it employs military personnel in its marketing and operations departments.