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Buying a car is a significant financial investment, so it’s important to be prepared. Many times, people simply choose a car because its trendy, but making this decision should not be an emotional decision. If you fit into the MILES program, it’s more likely that you need a safe and reliable vehicle that will suit your transportation needs. The first step to this process should be to understand how much car you can afford. You don’t want to end up in a vehicle that was cheap to buy, but expensive to own. The MILES program is designed to protect you from this and put you on a path that will help to establish and/or rebuild your credit history.
Take the time to do your research and analyze your budget carefully. Buyers often forget that sales taxes, insurance premiums and additional fees can increase the car purchase price by 10-15%. It’s important that you don’t allow trend or emotion to overrule your car selection process. If you do, you may find yourself having to start all over in the very near future.
Check out our Budgeting Worksheet. This tool will help you make sure you have enough room in your budget for the vehicle you want as well as help you organize any other household expenses.
Think about what your car priorities and needs. To keep your search focused, do as much research as possible before visiting a dealership. As you gather information about vehicles in your price range, you should also consider some other key factors related to the use of the car:
Do your research before you go to the dealership. The internet is full of resources to help you find pricing and consumer reviews. We recommend NADA and Edmunds. Social Media is a great resource to get vehicle recommendations from friends you know and trust – just ask, you’ll be surprised by the responses you get. Auto trade magazines and local newspaper can also help you scan what is available in your area. In some states, Car Dealerships are closed on Sundays. This can be a great time to check out the cars on the dealership lot, without a salesman looking over your shoulder.
Do you want to know what vehicles MILES Customers are buying? MILES criteria allows service member customers to purchase a new or quality preowned vehicle with less than 75,000 miles and no more than 6 model years old.The following vehicles were the most popularly purchased by MILES Customers from July through December 2011.
MILES Program National Certified Dealerships agree to prepare, price, and sell only quality vehicles using strict and audited standards established by MILES.
Among these standards is the exclusion of high performance, luxury and sport vehicles. Due to the cost of insurance, maintenance, and depreciation these vehicles experience they are inappropriate for the MILES Program.
NOTE: Service Contract claims will not be paid on any vehicle which has been modified or altered with high performance and/or off-road equipment that is not original factory equipment, done before or after the date of your service contract. This includes but is not limited to tire or wheel sizes and offsets not recommended by the manufacturer. Additionally, some vehicles will not be eligible for a MILES Vehicle Service Contract including conversion vans, any lifted truck, and those vehicles with alterations or modification not recommended by the manufacturer.
In addition to the list below, the following characteristics are not acceptable for vehicles purchased through the MILES Program:
Effective December 30, 2011
Click here for a detailed list of Vehicles Prohibited by MILES
Trust has always been the foundation of The MILES Programs' relationship with customers. Because you trust us with your financial and personal information, we respect your privacy. More