Pioneer Military Loans - Financial Management

KatReborn · 11-27-2007, 10:15 AM

So I read in someone elses thread about Pioneer Military Loans and I was wondering if anyone had used them before and if they were okay. We are thinking about using them for a decent used car and I just want to make sure they aren't one of those crazy places that are basically scam artists.
Thanks for the help.

Brandi · 11-27-2007, 10:18 AM

As far as I know, they are VERY reputable and work only with military families, BUT the interest rate can be high. I don't have personal experience with them but we applied once a while back and the interest rate was higher than what we were willing to pay. The monthly payments were also very high. I think it depends on your credit, how much you are borrowing and that sort of thing though. Good luck!

~~Donna~~ · 11-27-2007, 01:44 PM

We went through them when things got really tight when Gabe was sick. It hasnt been bad. I wouldnt use them to get a car loan though. Even with bad credit, you can get a better APR through a credit union or bank.

ImNoOliveOyl · 11-27-2007, 02:04 PM

Originally Posted by Colplaykat

So I read in someone elses thread about Pioneer Military Loans and I was wondering if anyone had used them before and if they were okay. We are thinking about using them for a decent used car and I just want to make sure they aren't one of those crazy places that are basically scam artists.
Thanks for the help.

I'd try USAA for a car loan.. Good luck!

NavyChiefs_Wife · 11-27-2007, 02:19 PM

we've used them when dh needed the money to fix his car and they weren't bad. the interest rate was a little high but the montly payments aren't too bad, but i'd try going through someone else for a car loan.

Jennie · 11-27-2007, 03:42 PM

We're actually paying them right now for a loan we took out. The interest rate is high, although I'm not sure how much exactly. We were told payments would be about $60 a month - they lied. It's almost doubled. It was quite easy to get a loan through them tho.

kathy · 11-27-2007, 05:16 PM

we used them..but the interest rate was OBNOXIOUS! almost 30%..but when your in a bind..you do what you have too

fortunately..we paid it off in a couple of months and it looked good on the credit

rosebud* · 11-27-2007, 05:17 PM

for a car loan i would try somewhere else. You would be surprised at where you can get financed.

NCSoldiersWife · 11-27-2007, 05:40 PM

I agree with everyone else... it's easy to get a loan through them, but their interest rates are high. Our interest rate was 25% and the only way we got out of that loan was through saving and making extra payments during hubby's deployment... I would definitely go through USAA... that's who we used for our loan to get our used vehicle, and I think our interest rate is like 9%.

11-27-2007, 10:15 AM	#1 (permalink)
KatReborn MilitarySOS Jewel Join Date: Oct 2007 Location: Ft Bragg Posts: 5,909 Classifieds: (0) Activity: 0% Longevity: 35%	Pioneer Military Loans So I read in someone elses thread about Pioneer Military Loans and I was wondering if anyone had used them before and if they were okay. We are thinking about using them for a decent used car and I just want to make sure they aren't one of those crazy places that are basically scam artists. Thanks for the help. __________________

11-27-2007, 10:18 AM	#2 (permalink)
Brandi “If you want the last word, apologize.” Join Date: Jan 2004 Posts: 39,594 Blog Entries: 1 Classifieds: (3) Activity: 20% Longevity: 99%	As far as I know, they are VERY reputable and work only with military families, BUT the interest rate can be high. I don't have personal experience with them but we applied once a while back and the interest rate was higher than what we were willing to pay. The monthly payments were also very high. I think it depends on your credit, how much you are borrowing and that sort of thing though. Good luck! __________________

11-27-2007, 02:19 PM	#5 (permalink)
NavyChiefs_Wife Life's a jouney, not a destination Join Date: Jun 2006 Location: Millington, TN Posts: 10,024 Classifieds: (2) Activity: 68% Longevity: 58%	we've used them when dh needed the money to fix his car and they weren't bad. the interest rate was a little high but the montly payments aren't too bad, but i'd try going through someone else for a car loan. __________________

11-27-2007, 03:42 PM	#6 (permalink)
Jennie Senior Member Join Date: Oct 2006 Location: Fallon, NV Posts: 12,150 Classifieds: (0) Activity: 0% Longevity: 52%	We're actually paying them right now for a loan we took out. The interest rate is high, although I'm not sure how much exactly. We were told payments would be about $60 a month - they lied. It's almost doubled. It was quite easy to get a loan through them tho. __________________

11-27-2007, 05:16 PM	#7 (permalink)
kathy Always n Forever Join Date: Jan 2004 Location: Jacksonville Fl Posts: 8,493 Classifieds: (0) Activity: 5% Longevity: 99%	we used them..but the interest rate was OBNOXIOUS! almost 30%..but when your in a bind..you do what you have too fortunately..we paid it off in a couple of months and it looked good on the credit __________________

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11-27-2007, 01:44 PM	#3 (permalink)
~~Donna~~ Banned Join Date: Jan 2004 Location: New Orleans Posts: 16,885 Blog Entries: 1 Classifieds: (0) Activity: 0% Longevity: 99%	We went through them when things got really tight when Gabe was sick. It hasnt been bad. I wouldnt use them to get a car loan though. Even with bad credit, you can get a better APR through a credit union or bank.

11-27-2007, 05:17 PM	#8 (permalink)
rosebud* rosebud*<3 Brittany Jo && <3 thekels9 Join Date: Nov 2005 Location: [wherever his heart is] Posts: 32,651 Blog Entries: 2 Classifieds: (0) Activity: 42% Longevity: 67%	for a car loan i would try somewhere else. You would be surprised at where you can get financed. __________________

11-27-2007, 05:40 PM	#9 (permalink)
NCSoldiersWife Senior Member Join Date: May 2006 Location: Fort Bliss, TX Posts: 331 Classifieds: (0) Activity: 1% Longevity: 59%	I agree with everyone else... it's easy to get a loan through them, but their interest rates are high. Our interest rate was 25% and the only way we got out of that loan was through saving and making extra payments during hubby's deployment... I would definitely go through USAA... that's who we used for our loan to get our used vehicle, and I think our interest rate is like 9%. __________________