My current situation is that I have my orders to kadena . But I’m about 2 months away from heading over there . I don’t have a Sofa drivers license yet . There’s a car that I want to buy and just have the dude hold it for me . What is the lowest interest rate loan I can get , and how would I go about it ? Do I borrow from banks over in oki or go through navy fed or USAA? I just need some advice .
by FreePoet8592
11 comments
You’ll most likely get a sofa license your first week.
You definitely will not be able to get a loan from a Japanese bank. Most SOFA-oriented dealerships do offer financing and some do interest-free financing, but only on cars they sell.
You could do Navy Federal, but the personal loans carry in interest of anywhere between 9-18%, so it’s not really a smart decision to take out that high of an interest loan for a car. Especially in Oki, even the best maintained used cars will slowly corrode away into oblivion. And if the car has gone through multiple service members, at one of them probably did poor mods or treated it like shit.
A PCS Pay advance is probably available through your admin, but i think that has like a 12 month payback period so if its a significant cost for the car, it’ll probably take a big chunk out of your paycheck until paid back.
Don’t be a dummy and pay more than $4k for a vehicle here. If you’re dreaming about a skyline or such, it’s one of the biggest mistakes young men and women make over here. Same goes with land cruisers these days. Okinawa is a great place to start saving your money and growing your understanding of finances. Don’t fall in the “I’m taking it back to the US and making a fortune”. Just because you heard little Jonny did it doesn’t make it true.
Don’t buy a car until you’re out here.
Just save up. You can get perfectly good cars for like $2k or less if you watch for people panic selling on fb as they try to leave the island on orders to go somewhere else.
Orders change, do not count on being here until you check in. Plus not everyone gets a SOFA license. They’re pretty stingy about giving them out to junior marines and sometimes make you get certain quals or just make you wait a few months so they can vibe-check you.
But yeah once you get your license Navy Fed is the way to do it. You can’t use a Japanese bank. I agree with most of the people here, don’t pay more than 2-3k for a car. When people transfer they are desperate to sell. You can literally get a reliable nice car for under $1000.
That being said. If there’s something special that you really want loans aren’t always a terrible financial decision. They help build up credit. Having a credit card that you auto pay off is a better way, but a car loan works too. But…I’m telling you, you can get a great car for hella cheap.
Cars are dirt cheap in Japan, you don’t need a loan.
What kind of car? If it’s a beater then wait till you get here and go to BC motors for an interest free loan on a shitty Kei car.
Ask this guy whom is selling you a car when the JCI expires. That is an inspection that is done every two years on cars and if any little thing is wrong ( a light out or a boot on a CV joint ripped) it has to be fixed before it can pass.
Don’t. You can’t put the car in your name until you’re actually here with orders and a valid 4EJ permit on file with JSVRO. Jimmys are a dime-a-dozen out here. Giving someone money for a car to hold on to for you is a painful lesson waiting to happen unless that person’s name is “Toyota,” etc.
dear yourself a favor and don’t get alone. Just get a beater.
You will not need a car loan. Just ask your sponsor
Comments are closed.