I am joining the Army and will be in training for about 7 months. I will not be allowed to have a personal vehicle while in training. I am still making payments on my car. Would it be smarter to sell my car and save all that money?
2007-03-16 07:42:05 · 12 answers · asked by arob198269 1 in Politics & Government ➔ Military
Before you make that decision check into the "Soldiers and Sailors Civil Relief Act". If your vehicle loan qualifies under this act, you might not have to make payments while you are away. If so, then there will be no need to sell it. If however, it does not qualify, you should sell it and save a lot of money. There is no sense in making payments for 7 months on something you will not be using.
Here is a link that should help:
http://usmilitary.about.com/library/milinfo/marineenjobs/aa111201a.htm?terms=soldiers+and%20Sailors%20Civil%20Relief%20Act
2007-03-16 07:55:35 · answer #1 · answered by UCF Jason 2 · 2⤊ 0⤋
If you sell the car, you will save payments but will take a loss on the depreciation. When you finally get out of training and assigned to some base, you may want a car and if that is the case, you will have to start all over. I would keep it until you see what happens after training.
Besides, what else do you have to pay for? During training, food and housing are provided.
2007-03-16 10:17:40 · answer #2 · answered by forgivebutdonotforget911 6 · 0⤊ 0⤋
Been there, done that.... Once you are done with your training you will need a car at what ever duty station you get stationed at, It sucks without a car, trust me.....If you are going into the guard then you will still need a car afterwards anyway.....If you are satisfied with your car and have a cheap place to store it (family,friend) then keep it.. It will need to be started at least once a month to keep lines in good shape.....Contact your insurance agent about prrt time insurance on it also, it is available, I have it through American Family currently.......While you are in training you will not be able to spend much money and it is a great time to save.... So if you want a better or diff car after training just sell what you have now and get what you want with the $$$ you saved during training.... Good luck..
2007-03-16 07:57:08 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It really just depends. Would you be able to sell it without taking a loss? Do you want to keep it or will you want a new car soon? Do you have some place to store it while you are away?
If you want to keep it, no one will be driving it and have a place to store it, you should be able to get storage insurance. That is a great deal less expensive than full coverage. You may have to turn in your plates so check with your DMV.
Are you certain you won't be able to use it? What is your MOS? Where is your AIT? Many soldiers are allowed having cars at AIT after a certain amount of time. If you have a car at AIT, when you graduate and if your orders send you somewhere in the states you will be given time to drive to your permanent duty station and the army gives you traveling money too. It's like a little vacation that does not count against your leave. Tell your recruiter to find out for you and give you the details. Remind him he is there to set you up for success!
Even if you can't you use your car at AIT, when you arrive at your permanent duty station, your move is considered a permanent change of station. If you are allowed having a car there (in the US or Europe for instance) you are authorized to have household goods moved, paid for by the army. They will give you time to go and get your car or pay a freight carrier to bring it to you. Ask your NCOIC when you arrive at your permanent duty station to give you the details.
Good luck. Your going to have fun. Drop me a line if you have any more questions.
2007-03-16 11:32:07 · answer #4 · answered by SG 2 · 0⤊ 0⤋
I think you have a good idea - sell your car, save your money and buy a new car if/when you need it.
PS - I don't know you of course, but I want to say that the US Army is the best part of America and what makes us great. I think a lot of people think this, and don't get enough chances to say it - so I'm taking my chance now.
2007-03-16 07:48:00 · answer #5 · answered by Stan W 5 · 1⤊ 1⤋
ooh tuff choice to make.... not having a car sure does suck... but then again no payments sounds nice... id say 7 months is so long just sell it put the money in a money market account and once you get out get yourself a nicer car it will be like a reward for getting through the army =0)
2007-03-16 07:46:42 · answer #6 · answered by Wonderingplz 3 · 1⤊ 1⤋
Sell it, you will save on car payment, insurance and depreciation while it sits. Good Luck and Thank You.
2007-03-16 07:53:36 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Sell it, save the money and insurance payments.
2007-03-16 07:45:39 · answer #8 · answered by Anonymous · 2⤊ 0⤋
It is up to you, but think about selling it now, then buy another one when you are allowed to have a vehicle on Base.
2007-03-16 07:52:06 · answer #9 · answered by SwatDoc 3 · 0⤊ 0⤋
is a good idea if you won't need it anyway and yes save the money...
2007-03-16 07:46:35 · answer #10 · answered by nena_en_austin 5 · 0⤊ 0⤋