Receiving a Permanent Change of Station (PCS) is a significant life event, and one that comes with a long to-do list. As you prepare to relocate, don't forget to review how your vehicle financing-whether it's a lease or a used car loan-may be affected. At MileOne Autogroup, we're here to help you navigate your options clearly and confidently.
Review Your Terms Carefully
Start by reviewing your lease or loan agreement. Some lenders or leasing companies may have restrictions about relocating your vehicle to another state or abroad. You'll need to check whether your contract allows out-of-state or international relocation and what the protocol is for vehicle returns or trade-ins.
Keeping an Auto Loan During PCS
Auto loans are generally unaffected by PCS orders. Most lenders will allow you to continue making payments from a new location as long as you update your contact information. However, it's crucial to understand that auto loans cannot be terminated or forgiven due to PCS orders.
If you cannot or do not want to take the car with you, your options may include selling your car or getting a great trade-in value at a dealership, a private sale, or paying off your loan balance. We're happy to provide an appraisal if you're considering trading in your vehicle before your move.
Managing a Lease During PCS
If you're leasing your vehicle, you'll need to consider where you can return it at the end of your lease. Some manufacturers allow lease returns at any authorized dealership, while others may require you to return it to the issuing dealer. If you're staying within the U.S., it may still be feasible to keep your lease, but you should verify terms for lease-end obligations and possible relocation limitations.
Terminating Your Lease with SCRA Protection
Military members who receive a PCS outside the continental United States, or are deployed for 180 days or more, may be eligible to terminate a vehicle lease early without penalty under the Servicemembers Civil Relief Act (SCRA).
To qualify, you'll need to provide your leasing company with a copy of your military orders and a written termination notice. This protection does not apply to standard vehicle loans.
Choosing What's Right for Your Move
If you're moving to an area served by one of our dealerships and you're browsing new cars for sale, we offer a wide selection of models at your destination. You can lease a new vehicle at your next duty station or work with us to trade in and finance a new one before your move.
Visit a MileOne Dealership to Discuss Your PCS Options
We're here to make your transition smoother. Visit any of our auto dealerships in Baltimore, MD, NC, PA, or VA to review your lease or loan options. Our finance and sales teams are ready to assist you with tailored solutions during this important change.