In some cases, you can get adaptive equipment grants to modify a vehicle in accordance with your disability. It issues a one-time payment of up to $22,355.72, which you can use to buy a specially equipped vehicle so you can safely drive with your service-related injury.
Department of Veterans Affairs disability benefits. The VA Automobile Allowance and Adaptive Equipment program is part of the U.S. What Is the VA Automobile Allowance and Adaptive Equipment Program? However, a former military service member facing extenuating circumstances might be able to receive financial assistance if they qualify for the VA Automobile Allowance and Adaptive Equipment program. This federal department doesn't currently have any general programs to help veterans purchase new cars. Seeing as Veterans Affairs (VA) offers everything from purchase loans to cash-out refinances to help veterans buy homes, you might be surprised that there are no VA auto loans. Widget CTA: Fill out the form below to learn more about veteran auto loans. We also cover other tips for affording a car after your military service, including how to obtain discounts from military credit unions and dealerships. This guide on veteran car loans will help you learn everything you need to know about obtaining financing for your new vehicle. Several organizations want to show gratitude for your service by making this big purchase more accessible. The good news is that buying a car is well within reach for veterans like you. You might need to buy a car whether you're coming back from overseas or moving from somewhere that allowed you to use public transportation. However, it's often a necessary expense when veterans return home.
With these financial challenges to worry about, buying a car might seem impossible. Veterans can also have a hard time building credit, paying off loans, and recovering from the exorbitant costs of moving every few years. A veteran who needs supplemental income might not be able to work upon returning home due to a service-related injury. Unique challenges include integrating back into your family, establishing a support system, and navigating financial pressures.įinancial pressures are particularly rampant, as veterans may not receive the benefits they need after their service. This transition can be difficult whether you're looking to settle into retirement or continue your career in the private sector. After serving in the military, you might find yourself having to readjust to civilian life.
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