Overhaulin'

Buy vs Leasing car for coast guard?

What would you recommend for someone joining the coast guard? Buying means I can take it overseas if I have to, but a lease means I can be paying less per month, and with the small income of an E1 I think this may be a better option. Also if anyone knows, how often do you change duty stations? Is it once a year or every few years? And what are my chances being stationed overseas? What the hell is Mormon supposed to do with this? And I'm not one.

Public Comments

1. Where would you take it overseas? They try and keep you on station for 3 to 4 years. You need to understand that if you are stationed across the country from you home of record, a couple of trips home in the car could cost you big dollars if you exceed your mileage limit. You will not be an E-1 for very long....hold off on any decisions until you are at your permanent station, and then give it some serious consideration even then.
2. I wasn't aware that the coast guard was stationed overseas because their duty is to protect the US coast. Were are the coast guard bases overseas? I would always buy instead of lease because if you lease and you drive more than 12,000 miles a year when you turn the car in you will owe as much as a dollar a mile for every mile you drove over the maximum.
3. I am truly amazed at some of the crap answers from people that know nothing about the Coast Guard. One answerer said that you should consider being stationed across country and driving home to visit - this is a VERY real possibility. If you go over your mileage limit on a lease, you will pay through the nose. Unless you REALLY mess up in Boot Camp, you with be auto-advanced to E-2 on graduation day (Woo Hoo!). As a non-rate, depending upon what rating you choose, it could be anywhere from one to three years before you PCS (Permanent Change of Station = transfer) to a new unit. After that, it is usually every three to four years. We have lots of Coasties in Hawaii, and Alaska, as well as bases in Guam, American Samoa, Puerto Rico and several other islands in the Caribbean. After you are rated (go to A School), you are eligible for a tour in Bahrain, and possibly The Netherlands, depending upon your rating and desire. PERSONALLY - and PLEASE keep in mind that is only my opinion - I would consider buying a $1000 car and drive it until it dies. It will be cheap to insure, and if something happens to it, it won't be that big a loss. I would avoid a lease at all costs.
4. dont waste your money on a car untill you see where you end up. i didnt buy a car untill i was in for a year and then it sat in long term parking most of the time.
5. Buying is generally going to be a better deal for most people, as you don't have to worry about mileage, keeping it perfect, cancellation or any of the other "gotcha" charges that come with many leases. Leasing looks cheaper, but many times, it's not. Many cheap leases also come with a big upfront payment that you never get back. At least with buying, you own something at the end. The key is to buy something you can afford. You should also know that unless you own the car outright (pay cash, no car payment), you still have to get a signed release from your lender before you can take a car overseas. The lender actually owns it (they hold the title) until you've paid it off, and they know it's much harder (if not impossible) to repossess once it's left the country. If they have any concerns at all about your credit worthiness, they can and will say "no" when you ask to take it out of the country. The military won't ship it without that release. You won't be an E-1 for long. E-1 only applies while in boot camp. You'll graduate as at least an E-2. Your original point is valid though, in that you won't make much money. You change duty stations somewhere between every 1 and 4 years, with 3 or so being typical once you make rate (E-4 and up). Initially though, transfers will come faster, as you should be at your first unit only around a year or so before heading off to school to become an E-4. Regarding being stationed overseas, they're high if you ask for it, reasonably low if you don't. I've been stationed in Puerto Rico before, but it was a reasonably high choice on my list. Good luck!