The combination of your secure military income stream and your awareness of price reductions on items large and small, may just make now the right time, and wherever you are located the right place, to make all the right purchases.
Before they were famous, many truly influential men and women started by serving their country in the US military or grew up in military families.

What Your Military Salary Can Buy You Now: Consider that Luxury Car

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Unlike most civilians, being in the military means that even in tough economic times, you can still feel secure in your job. Unemployment figures don't usually include military, as unemployment is not a part of your military life.

And maybe you even have a little spare cash.

The combination of your secure military income stream and your awareness of price reductions on items large and small, may just make now the right time, and wherever you are located the right place, to make all the right purchases.

YOUR MILITARY SALARY BUYS A DREAM CAR? MAYBE!

There has almost never a better time to buy a new car. The automobile industry is experiencing unprecedented price reduction, due to a combination of economic factors. Manufacturers and dealers are anxious to move inventory. and your new car may just be waiting on their auto lot.

Check your credit score and find out if you qualify for zero-percent financing, available at GM, Ford, Chrysler, Volkswagen, Toyota, Nissan and Mazda. BMW has an attractive 0.9% rate on certain vehicles. The days of double digit auto loans may be a thing of the past.for awhile.

Borrowing at close to zero-percent interest, assuming your monthly car payments are within your debt-to-income ratio and the down payment needed is available to you, could be your best financial move.

Purchasing a new or luxury model car may increase your auto insurance rates, but you do have access to discount military auto insurance which will help. Overall, the cost of car ownership is lower now than it has been for as long as you may be able to remember.

NO FREE RIDE, BUT CLOSE, WITH NEW CARE TAX INCENTIVES AND MORE

The government has offered help with new car with incentive programs.

If you bought a car in 2009, you are allowed to deduct sales and excise taxes on that new vehicle, without itemizing. Usually, these taxes can add a lot to your sticker price; now, this tax break allows you to get some of it back.

Don't worry about the news of auto manufacturer going out of business. The government is also standing behind warranties on GM and Chrysler vehicles, should these companies be unable to fulfill their warranty promises.

The federal Cash-for-Clunkers program gave new car buyers above-market value for some trade-ins and that made buying a new car even easier. And while that program ended in August 2009, auto prices continue to be slashed to well below suggested retail prices.

DISCOUNT MILITARY AUTO INSURANCE HELPS, TOO

Your military status, including if you are retired from military service, have unique access to discount military auto insurance. Auto insurance providers know that military men and women are a good insurance risk. Insurance companies often deem military people more responsible drivers deserving of a deep discount on auto insurance. Lower priced auto insurance reduces the overall cost of owning your new car through the loan period and beyond.

ACT NOW OR RIDE IT OUT TILL NEXT TIME

Some economists predict auto prices could start to firm by the end of 2009 when it is projected that weak auto dealers will go out of business. In addition, auto manufacturers had already cut back auto production in order to cause a shorter supply of autos by the fall of 2009, a move designed to stimulate consumer demand and increase auto prices.

An economic recession is mostly bad news...but if you have a little discretionary military income, it can also be an opportunity to move on those purchases you have long been postponing.

If you're ready to buy a new car now, but be military smart. Always take stock of your financial situation, comparing your military income to your increased debt load before any large purchase. And enjoy your military status - you may just be among the minority who can take advantage of some wonderful deals on that new car you've always wanted.



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