At Hall Acura Virginia Beach, we’re here to help you on every stage of the vehicle ownership journey. That includes sharing guidance and tips for what to do with your car when you get a permanent change of station. Here are a few considerations as you plan your next move.
The Difference Between Domestic and International Transfers
If you are transferring within the Continental United Stated, or CONUS, then your lease or loan will largely stay the same. As with any move, you’ll need to inform your lender of the change of address and update your insurance and registration. Because most car payments are made online, you likely won’t have to change your payment process. For leases, it can be a little more complex within the country, and you’ll want to discuss a transfer or buyout with your lender.
For Outside the Continental United States or OCONUS transfers, it’s important to note that many lenders will not allow you to take the vehicle with you. There are a few options in this case:
- Keep making payments on the vehicle and storing it or leaving it with a trusted family member
- Selling the vehicle to a dealership
- Selling it via private sale
There are financial considerations and consequences with each course of action, and we can help you think them through. If you’ve leased, the Servicemembers Civil Relief Act (SCRA) legally protects you to terminate your lease early without penalties if you are moving OCONUS.
Is it Worth Taking My Vehicle?
There’s no one-size-fits-all answer to this question. Within CONUS – let’s say you’re transferring from Norfolk to Joint Base MDL – you’ll have plenty of options because your car can easily go with you as long as you inform the lessor or lender. OCONUS is a different story, because your options will vary based on whether or not the vehicle is paid off, and then it’s a matter of weighing storage and maintenance costs against the cost to transport a vehicle overseas, along with all the paperwork, fees, and headaches that go with it. The good news is, this isn’t our first time dealing with this, and we can help you navigate the process.
Explore Acura Financing Options in Virginia Beach, VA
No matter your change of station or life, Hall Acura Virginia Beach is here to answer your pressing ownership questions. We’ll help you along the Acura financing process, so you can focus on the next big adventure. Get started at our dealership today.
