First Time Buyers: Budgeting for Your Vehicle | PART TWO

Purchasing your first vehicle is an exciting milestone, but it is also one that requires careful consideration and financial planning.

Military AutoSource created a two-part series to educate military members on their first vehicle purchase. As a young military member, it is important to be financially conscious when making major purchase decisions. Purchasing your first vehicle is a great investment with many benefits, do your research and be prepared and you will enjoy the perks of owning your vehicle. Remember to take advantage of cost-saving military privileges offered to you, such as the First Time Buyers program offered through Military AutoSource. 

Missed PART ONE: Interest Rates and Credit Scores? – check it out here!

Ford Spring Sale

PART TWO: Budgeting for Your Vehicle
Creating a Budget

Before your start shopping for your vehicle you should create a budget for yourself. There are four factors to consider when creating your budget:

1. How much money can you afford as a down payment?
2. How much money are you willing to spend monthly?
3. What will your insurance rates be?
4. How is your credit score?

Finance Value

The bank you finance your vehicle through will determine your interest rate based on three factors:

1. Your Credit Score
2. Amount of Down Payment
3. The Total Vehicle Value

If the car you’re buying is worth $20,000, but you’re only paying $18,000, you will get a better interest rate.

If the car is worth $20,000, but you pay $22,000, you will have a higher interest rate.

DO YOUR RESEARCH! Make sure you know how much your car is worth before your buy it.

Military AutoSource created the First Time Buyers program for overseas U.S. Military members looking to purchase their first vehicle at a great value. First Time Buyers allows customers with lower credit scores to buy a brand new vehicle at a low monthly payment!

Military AutoSource has several customer protections built in, including:

Lowest Price Guarantee
Finance Assistance
Satisfaction Guaranteed
Emergency Payment Protection.

Contact your local sales representative today to learn more about the First Time Buyers program!

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The Redesigned 2015 Audi A3 Earns IIHS Top Safety Pick+ Award!

IIHS Top Safety Pick

This midsize luxury car won based on good performance in five crashworthiness tests and an advanced rating for front crash prevention.

It’s the luxury compact car that leaves a big impression.

Get behind the wheel of a 2015 Audi A3 at exceptional pricing through the Military AutoSource Audi Military Program!

Order your Audi while you are stationed overseas so you can take advantage of your exclusive overseas military pricing, and have it waiting for you Stateside when you arrive home! Delivery is also available in select European locations.

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GERMANY EXCLUSIVE: One week left to enter | Ford Hockenheim Trip Giveaway

There’s only one week left to enter for your chance to win a trip to Hockenheim to test-drive Ford vehicles!

Hockenheim

Military AutoSource and Ford are giving 30 lucky military members the chance to test-drive Ford vehicles at Hockenheim-Ring, home to the German Grand Prix.

United States Military members stationed in Germany have the chance to win a day trip to the Hockenheim-Ring, during the Military AutoSource (MAS) Driving Freedom with Ford event, being held June 9th. The 15 winners will visit the Hockenheim racetrack to test-drive the all-new, redesigned Ford Mustang or F-150 and spend the day with Ford pro drivers.

Active military members are invited to enter for their chance to win now through May 22nd at MAS on-base in Germany or online at militaryautosource.com/freedom

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U.S. Military: Get a 2016 Volkswagen at 2015 Pricing

The Military AutoSource program offers special pricing for overseas Military Members on Volkswagen vehicles!

For a limited time only, get an all-new 2016 Volkswagen at 2015 pricing!

2015 Pricing

Active military members stationed overseas have access to special benefits and discounts on Volkswagen vehicles through the Military AutoSource VW military sales program. Don’t miss out on these special military benefits that are ONLY available to military members while they are deployed overseas.

Have your vehicle delivered to your overseas location, or have it waiting for you when you return stateside!

Visit our online showroom to start building your dream vehicle!

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Military AutoSource Grand Opening Event Schedule

Join us in celebrating the grand opening of our Military AutoSource locations!

Military AutoSource, formerly known as Exchange New Car Sales, hasGrand Opening been serving the military for over 50 years! We invite you to join us at our Grand Opening events to honor these bases with a special “50 Year Partnership Award.”
Come enjoy food, giveaways and plenty of fun for the whole family all day long!

Grand Opening Event Schedule

1. Aviano Air Base | May 14-17

2. Grafenwöhr Training Area | May 15-17

2. Camp Arifjan | May 16

3. Bagram Airfield | May 23

4. Andersen Air Force Base | June 5

5. Wiesbaden Exchange Shopping Center | June 13

6. Osan Air Base | June 15

8. Royal Air Force LakenheathTBA

For More Event Details Contact Your Local Sales Representative 

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GERMANY EXCLUSIVE: Test-Drive the Ford Mustang on the Famed Hockenheim-Ring Racetrack

Did you ever dream of being a race car driver? (be honest, you know you did!) Now’s the chance to make those dreams come true!

U.S. Military Members stationed in Germany have the chance to win the experience of a lifetime test-driving the Ford Mustang or Ford F-150 on Hockenheim-Ring racetrack, home to the German Grand Prix.

Check out these awesome pictures from Hockenheim-Ring and start picturing yourself hugging those curves and speeding down the straightaways!

Enter for your chance to win a day at the track!

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Hockenheim

 

 

Mercedes-Benz Military Program is Now Available for Stateside Delivery!

mercedes stateside

Military AutoSource welcomed Mercedes-Benz into our military program in 2014, and we are excited to announce the expansion of the program to include Stateside delivery on ALL MODELS!

Take advantage of your military benefits that are only available to you while you’re stationed overseas, and have your brand-new Mercedes-Benz shipped Stateside to your chosen location.

Getting your dream vehicle just became easier than ever. Speak to your Mercedes-Benz Sales Representative today for pricing details and to find the best vehicle for you!

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Military AutoSource will help you find the right Mercedes-Benz to fit your needs while providing you with superior value, service, and convenience. We are the factory-authorized military distributor for U.S. specification Mercedes-Benz vehicles. For over 50 years we have provided our customers with a program that offers direct access to the widest range of factory military programs available to active duty military, civilian, DOD employees, and members of the diplomatic community stationed outside the United States.

First Time Buyers: A Guide to Purchasing Your First Vehicle | PART ONE

Purchasing your first vehicle is an exciting milestone, but it is also one that requires careful consideration and financial planning.

Military AutoSource created a two-part series to educate military members on their first vehicle purchase. As a young military member, it is important to be financially conscious when making major purchase decisions. Purchasing your first vehicle is a great investment with many benefits, do your research and be prepared and you will enjoy the perks of owning your vehicle. Remember to take advantage of cost-saving military privileges offered to you, such as the First Time Buyers program offered through Military AutoSource.

mas-financing

PART ONE: Interest Rates and Credit Scores

What is an Interest Rate?

An interest rate is the rate at which interest is paid by borrowers (debtors) for the use of money that they borrow from lenders (creditors). Specifically, the interest rate is a percentage of principal paid a certain number of times per period for all periods during the total term of the loan or credit.

Interest is charged monthly, but is set at a yearly rate. Example: 6% APR is charged to the principle .5% every month.

Most loans are simple interest, but there is also compounding interest. Simple interest is interest paid on the original principal only. Compounding interest is the interest earned not only on the original principal, but also on all interests earned previously

What is Credit?

Your credit score is a three-digit number generated by a mathematical algorithm using information in your credit report. Your credit report is designed to predict risk, specifically the likelihood that you will fail on your credit obligations.

Your credit score is consisted of a number of factors:

credit score

There are two types of credit: Secured credit and Unsecured credit

Secured credit has less risk for the bank, and always has lower interest rates. Examples are home loans and car loans.

Unsecured credit has more risk for the bank, and therefore has a higher interest rate. Examples are credit cards and personal loans.

How to Maintain Good Credit

It is important to maintain a good credit score in order to get better interest rates and lower down payments. Below are a few tips for maintaining good credit:

  1. Always make your payments on time.
  2. Do not overextend yourself by taking out too much credit at once.
  3. Do not apply for credit unless you are serious. Too many hits on your credit can lower your score.
  4. Know what your credit score is and how you stand.
  5. Utilize free credit checks and credit monitoring services.
What Can Ruin Your Credit?

There are multiple actions that can damage and hurt your credit score. Rebuilding a damaged credit score can take a long time, so it is important to avoid these credit damaging action, if possible:

  1. Bankruptcies
  2. Divorce
  3. Late Payments
  4. Repossessions
  5. Too many loans

It is important to remember that having bad credit can result in higher rates, and a more expensive life. Having bad credit means higher interest rates, which can cost you thousands more.

Check Back for PART TWO: Budgeting for Your Vehicle

Interested in learning more about purchasing your vehicle through Military AutoSource, or the First Time Buyer’s program? Click below to request more information!

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GERMANY EXCLUSIVE: UPDATE! MAS Choosing 15 Extra Winners for the Ford Military Hockenheim Trip Giveaway

Get your racing gear on! Military AutoSource is excited to announce that we will be choosing an additional 15 winners for the Driving Freedom with Ford event. That means 30 lucky U.S. Military Members will have the chance to test-drive Ford vehicles at Hockenheim-Ring, home to the German Grand Prix!

Hockenheim-Ring racetrack is over 2 miles long featuring 17 turns and 6 straights. Experience the power of Ford as you put the the Mustang or F-150 to the test!

hockenheimring

United States Military members stationed in Germany have the chance to win a day trip to the Hockenheim-Ring, during the Military AutoSource (MAS) Driving Freedom with Ford event, being held June 9th. The 30 winners will visit the Hockenheim racetrack to test-drive the all-new, redesigned Ford Mustang or F-150 and spend the day with Ford pro drivers.

Active military members are invited to enter for their chance to win now through May 22nd at MAS on-base in Germany or online at militaryautosource.com/freedom

Hockenheim

EUROPE EVENT: Ride the Alps | Rally for Military Riders | June 12 -14

Ride the Alps!

Join Military AutoSource and the Edelweiss Resort for the 9th annual Ride the Alps event!

Ride through Bavarian villages, breathtaking mountain passes, and endless vistas. After the ride, join fellow bikers and enjoy live entertainment, games, and traditional Bavarian fest.

Order a Harley-Davidson bike in stock for quick local delivery and have it in time to gear up and Ride the Alps!

When you order, you will automatically be entered for the chance to win a Vacation Package,* which includes:
• 2 night stay at Edelweiss Lodge and Resort for the event • Hotel room and meals
• Tickets to the Ride the Alps Poker Run • Day’s competitions and activities at resort
Two (2) total Vacation Packages will be awarded! Entry boxes available on-base throughout Germany.
Speak to a Sales Representative for details!

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* A purchase is necessary to enter. Two total winners will be selected. No substitute prizes available. All programs and guarantees are subject to terms and conditions. Visit www.militaryautosource.com/harley-davidson or see your Sales Representative for complete details. All illustrations and specifications are to the best of our knowledge correct as of the date of publication. They are subject to changes made by the manufacturer and the laws or regulations of any federal, state or local government agency. Overseas Military Sales Corporation is an authorized contractor of the Exchange and NEXCOM. Military AutoSource is an authorized distributor to sell and distribute Harley-Davidson® vehicles. This advertisement does not express or imply endorsement by the Exchange, NEXCOM, DOD components, or the Federal Government and is not sponsored by them.