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Making Your Military Auto Loan Payment via Automatic Deduction
By admin | February 7, 2010
Military personnel serving overseas often find it exponentially harder to keep up with the details of their financial lives — the hardships and distractions intrinsic to a tour of duty simply get in the way.
In order to make sure you don’t miss any payments and damage your credit, many lenders will allow you to make your monthly military auto loan payment via an automatic deduction from your checking account. The funds are drawn from your account on a pre-specified day of each month.
Although some consumers prefer to make all payments themselves, thereby maintaining full control over their financials, automatic deduction may be an option to consider if you’re serving abroad. According to the National Veterans Foundation, deployment is one of the prime contributors to damaged credit.
Topics: Autos | Comments Off
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