Posted on Apr 18, 2014
How far would you go to make sure your soldier didn't get ripped off buying a car?
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<p>This afternoon my soldier sent me a text message asking me what are my plans for the four day and whether or not I would be busy after work. It was a Thursday, our Friday before the four day for Easter. I told him I was planning to work on my track car and relax afterwards. Maybe he felt bad for wanting to take up my personal time so he told me have a nice weekend and be safe. I then hounded him to tell me what he wanted. I really wanted to know what was on his mind because after all, as a caring leaders of our soldiers we should always be available to help within reason that is. Well, he wanted to buy a car and with that thought, young soldiers with low pay and buying cars is sometimes not a good combination. </p><p><br></p><p>He sent me information about a car, a 2009 Scion TC which was fully loaded with a manual transmission and 58k miles. I told him I would assist him; I did not want him to make the same mistakes I did as a young private. I immediately started research on this car and where it was located along with auto insurance rates. The consumer reports were excellent, and this car got awesome gas mileage. Too make a long story short, I test drove the vehicle, and I looked it over, and I found minor damage to the rear bumper and a few scrapes here and there. We got the dealership to take off $1200 off the asking price. I looked at his LES and it was fine, and I made sure his income to debt ratio was good. </p><p><br></p><p>The end state of the deal was him getting an interest rate lower than Navy Federal and we went with a local bank on Fort Bliss, TX. I sat with him during the entire process to make sure he purchased a warranty which is serviceable by any Toyota dealership and of course GAP insurance. So what he got was a reliable vehicle, a decent interest rate for a first time buyer, a warranty incase something breaks on the car, GAP insurance to cover the car if it becomes totaled in an traffic collision, he walked away in a high state of morale. I had to make sure he was taken care of and treated right. The dealership was also pleased he brought his supervisor. He insisted he buy me dinner for my help, and I accepted. During our meal he said his father would have never done this for him so I got a warm fuzzy lol. </p><p><br></p><p>I could have told him I was tired which I was, but I wanted to make sure was squared away. I didn't want this car to slip away either because I knew he would be upset. Sometimes are NCOs, we have to go the extra mile and then some to make sure our soldiers get the best. </p>
Soldiers
Finance
Posted 10 y ago
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After reading a lot of stories on individuals failing in their duties, it's nice to read one where the NCO does good. Thanks you for leading by example SSG Martin.
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I did basically the same thing with one of my Junior Sailors after his first deployment. He didn't know very much about cars, and was very nervous, and he knew that I am very into cars, always working on them, so he asked my assistance. It was very rewarding to see the excitement on his face when he found the car he liked, and after the test drive to see that everything was mechanically fine. The financial stuff he had figured out all on his own, and he didn't really need my assistance with. I double checked all of his figures and when I told him to go for it, it was like I had given him a present.
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I think as leaders it is our job to help educate our new Soldiers in large financial matters, as they may not have the background that would assist them in correctly making a sound choice.
When I was a Corporal in the Marines, I had a new Private entrusted to me. It was late on a Thursday, got him squared away in the barracks and let him know that I would be gone for the four day weekend. I insisted he not make any large purchases during his first weekend on Camp Pendleton and that I would help him if he ever had the desire to purchase something, such as a vehicle.
Long story short, that very weekend he went out and purchased an older model Camero, with about 26.5% interest rate. Mind you as a Private at that time, he could barely afford the payment for such an old car, let alone insurance or fuel for it.
After about 3 weeks going back and forth to the dealership with him I assisted in reducing the interest rate, found him great coverage at an affordable rate and helped him setup a monthly budget.
After that I thought all was good to go, I was wrong, a few weeks later he decided to go to Mexico, such a fun spot for those newly set free baby birds form mom and dad's nest. He actually drove the car across the border, mistake # 1. Decided to consume more alcohol than he should of, he was underage, mistake #2. Then decided it was a good idea to let the woman he just met in Mexico use his vehicle to get something from her house real quick, big mistake #3. She stole his car, he willingly let someone steal his car. And the big kicker was all his issued TA-50 was in the trunk of his car.
So now he had to continue to make payments on a car he didn't have, which insurance wouldn't pay for because it was in Mexico when it happened, and owed the Marine Corps thousands to replace his TA-50.
Sometimes, all the help in the world isn't enough for some.
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