Serving overseas in the military can be a thrilling and rewarding experience, but it also comes with its own set of challenges. One of those challenges can be buying a car.
Whether you’re looking for a reliable set of wheels to get around town or a vehicle to take you from post to post, buying a car overseas is a big decision and one that shouldn’t be taken lightly.
In this regard, there are a few important things to keep in mind when it comes to buying a car overseas.
Get Familiar With The Country’s Regulations
First and foremost, it’s important to note that different countries have different laws regarding vehicle ownership, registration, insurance, and other requirements. It’s therefore important to familiarize yourself with the restrictions or special requirements if any before you start shopping for a new set of wheels in your stationed country.
For instance, some countries may require you to have a valid driver’s license issued locally. If you’re bringing a car into the country from overseas, you will also want to pay attention to the customs rules and regulations. You may need to pay customs duties or taxes on the vehicle in addition to obtaining an import permit.
Car Purchase and Maintenance Costs
Secondly, and this one is a no-brainer, you’ll need to consider the cost of purchasing and owning a car in the country where you are stationed overseas. This includes not only the initial purchase price, but also taxes, insurance, fuel, maintenance, and other associated costs.
You’ll also want to make sure you understand the local market and compare prices across different vendors to ensure you get the best deal. Some vendors like MAS Camp Humphreys also have deals specifically designed for shoppers on overseas military assignments.
Purchasing your vehicle from such providers may earn you perks like service plans, maintenance plans, free driving courses, and access to different car financing options.
Consider Financing Options
For military personnel serving overseas, car financing can be a tricky endeavor. Many lenders are reluctant to provide car financing to overseas military personnel due to the difficulty of collecting payments from those stationed abroad.
Fortunately, some lenders and vendors specialize in car financing for military personnel stationed abroad and can provide a tailored loan to meet your needs. And depending on your branch of service and rank, you may also be eligible for special discounts when financing a car.
So, do some research, and contact such lenders to discuss potential loan options. Make sure to understand the terms and conditions associated with the loan, as well as the interest rate and other fees before signing on the dotted line.
Consider The Car’s Resale Value
It is also paramount to consider the car’s resale value before purchasing it locally while assigned overseas. Many men and women in uniform are only stationed abroad for a short period, and this could also be your case.
You will thus want to consider how easy it will be to sell the car when your assignment ends. If this was to happen, a more reliable brand or model that will hold its value better can be a safer bet.
Consider Bringing Your Own Car
Finally, finding the perfect car for your needs can sometimes be a huge hustle, more so while overseas. In this case, transporting your own car to your new military assignment station could also be an option.
Typically, the government may cover the shipping costs for one privately owned vehicle (POV) for military personnel whose permanent change of station is abroad.
Those whose new station is within the continental US may also qualify for entitlements for shipping their POV if they have a second vehicle, are married, and are relocating together with their spouses/dependents. This can be a great way to avoid the costs of buying a new car while your assignment abroad may only be temporary or short-lived.
More Tips for Purchasing a Car While Abroad
- Choose a reliable car dealership
- Research the car, make, and model
- Consider leasing instead of buying
- Inspect the car thoroughly before finalizing the deal (especially for used cars)
Buying a car while on an assignment abroad can be a daunting task for any military member. However, it can be a rewarding experience with a bit of research and preparation.
By following these tips, you can be sure to find a reliable set of wheels that will serve you well during your overseas assignment.