Auto Loans after Bankruptcy in O’Fallon / St. Charles County

November 20, 2015  

Regardless of your financial circumstances and credit history, when you need a reliable vehicle, you need to acquire one. There are an increasing number of dealerships that are seeking individuals with bad credit to offer them auto loans after bankruptcy in O’Fallon / St. Charles County.

Auto Loans after Bankruptcy in O'Fallon / St. Charles County

Prior to attempting to get financing for a used car, you should be aware of your credit score. A copy of your credit report may be obtained online from AnnualCreditReport.com. Knowing your score before going to the dealer will help you be prepared.

In addition, here are some other valuable tips:

  • Do you have a reaffirmed loan (one where you keep paying on a debt even after the bankruptcy)?
  • Collect as much of a down payment as you can. If you have the title for a car you already own, it can be applied to a down payment and lower the amount of cash you will need.
  • The older your bankruptcy is, the lower your interest rate will be. The converse is also true – the more recent you bankruptcy, the higher the interest rate.

Check your loan contract carefully to be sure that there are no additional charges. Timely monthly loan payments on your vehicle will gradually increase your credit score. In about 6-12 months, you may be eligible to refinance your auto loan.

5 Star Auto Plaza has a large selection of dependable used cars and offers affordable auto loans after bankruptcy in O’Fallon / St. Charles County. Speak with a member of our sales team today at (636)940-7600.

5Star auto plaza Review

5 Star Auto Plaza

5 Star Auto Plaza Review

  • St. Charles Used Cars

    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
  • St. Charles Used Cars

    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
  • Chesterfield Used Cars

    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
  • St. Louis Used Cars

    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
  • O’Fallon Used Cars

    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
  • St. Peters Used Cars

    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
  • St. Louis Used Cars

    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
  • St. Charles Used Cars

    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
  • St Charles Used Cars

    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
  • St. Louis Used Cars

    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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