CWO_of_Coffee
CWO_of_Coffee t1_j6i5hva wrote
Reply to comment by bones_HolyGrails in I have a financed car and less than 30 days before navy basic training. by octotron3000
You can get your interest rate capped at 6% for loans and credit cards but I haven’t heard anything about freezing them completely.
CWO_of_Coffee t1_iy495iw wrote
Cheap tires vs quality ones could be the difference of hitting an object or not hitting it.
CWO_of_Coffee t1_j6idaez wrote
Reply to I have a financed car and less than 30 days before navy basic training. by octotron3000
If you cannot come up with the difference right now to sell it, the only option is to wait until you have the funds to cover it. If you’re interest rate is over 6% then look into the SCRA and submit your orders to the loan company so they can cap the interest rate to 6%. Your recruiter could help out if the loan company needs some other documents proving your service if you don’t have your orders just yet.
Put the car in storage status with the insurance company and set up auto pay.
You won’t spend a dime in boot camp and more than likely you’ll be finished with about $1500+ after the two loan payments. It’s a rough number and I’m assuming that you’ll be an E-1.
I’m not sure where your MOS school is but some of them over a certain length allow vehicles. It’ll be up to your command and you would have to find out when you get there. There could be a waiting period to start school so there’s a chance to take leave to head back home and that might be the good time to sell the car. Unknowns aren’t fun but that’s sadly the military life. Some things are guaranteed but others will be figuring it out as you go.