Affordable Bankruptcy Auto Loans in St. Peters

April 13, 2016  

Affordable Bankruptcy Auto Loans in St. PetersRecovery from bankruptcy can be both challenging and complicated, but it is possible. There are many options for home financing and bankruptcy auto loans in St. Peters.

Since bankruptcy is one factor that dealers consider when looking at you as a credit risk, it pays to know where you stand in advance of your auto loan application. Realize that it is likely that you will pay a higher interest rate than someone with a good credit rating and that you will be required to front a larger down payment – usually about 10% of the car price.

A Chapter 7 bankruptcy accounts for about 70% of all bankruptcies. In this type of situation, debts are cancelled and the bankruptcy remains on your record for up to 10 years. For Chapter 13 bankruptcies, you pay all or a portion of your debt but the process time takes about  5 years. It stays on your credit report for 7 years.

There are some steps you can take to ensure that you not only get a reliable used car, but also pay a fair price and secure affordable financing. Shop around the various dealerships in the St. Louis area for a dependable auto and for a competitive interest rate. Know your budget and do not necessarily spend it all. Buying a used vehicle after bankruptcy is not a hopeless endeavor but it is in your best interest to do your homework. Remember that it is also an opportunity to rebuild your credit with car loan.

Call 5 Star Auto Plaza at (636)940-7600 for premium used cars and bankruptcy auto loans in St. Peters.


5Star auto plaza Review

5 Star Auto Plaza

5 Star Auto Plaza Review

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    Review Your DealerThey did me a great deal by working with  me on my trade in. I got into something I actually wanted and didn’t break the bank. Read More
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    Review Your Dealer5 Star Auto Plaza even won my husband over with their sales techniques. There was no high pressure tactics or belittling us. I was also impressed with all the clean cars and their selection. I would go back without hesitation. Read More
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    Review Your DealerI made an appointment at 5 Star Auto Plaza. They showed me the car and gave me a test drive. They were  very friendly, courteous, and didn’t try to hard sell me. The car sold itself, yet they made the experience easy. Read More
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    Review Your DealerI found the gentlemen  I dealt with at 5 Start Auto Plaza quite respectful and seemed to really have my best interest at heart . My salesman really worked with me on picking out the perfect car for me. I appreciated the personalized approach he offered. Read More
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    Review Your DealerDidn’t have to go through a big deal on getting a deal. I told them what I thought the car was worth and they worked with me to get me there. Read More
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    Review Your DealerI  wanted a new car for myself so I started checking out some cars online. I found a Lexus LS430 and decided it was the perfect car for me, I just needed to find the right priced one. I found one at 5 Star Auto Plaza, they worked within my budget and I got the car [...] Read More
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    Review Your DealerThey gave me a great price on my trade in and the overall price was very fair according to blue book. I am more than pleased with how the service was here. Read More
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    Review Your DealerFriendly faces and attitudes made all the difference for me from past experiences. They even detailed my suv upon delivery. Great experience. Read More
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    Review Your DealerLast summer I purchased a F150  from these guys.  After looking at several local dealerships, I found 5 Star Auto Plaza had the best prices, they had honest sales people and a great selection.  My truck is a great, it runs perfectly and it we absolutely love it!   Read More
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    Review Your DealerRecently after filing for a bankruptcy, our SUV broke down so we need a new family car.  We were really concerned after being turned down by another local auto dealer and our bank for a car loan due to our lack of credit after the bankruptcy.  We were truly elated to find 5 Star Auto [...] Read More
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