Auto Loans after Bankruptcy in St. Charles / St. Charles County, MO

October 15, 2015  

Regardless of the fact that you may have been forced to file bankruptcy to settle and alleviate accumulated debts, it remains that you still must have dependable transportation for travel to and from your place of employment and for other obligations that are some distance from your home. It is not only possible but feasible to apply for auto loans after bankruptcy in St. Charles / St. Charles County if you need to buy a pre-owned vehicle.

 Auto Loans after Bankruptcy in St. Charles / St. Charles County, MO

Although the circumstances are slightly different between Chapter 7 and Chapter 13 bankruptcy, options are available if you do your homework in advance.

  • So that you know exactly where you stand, secure a copy of your credit report and score from AnnualCreditReport.com. When you have that “magic number,” you can research a range of applicable interest rates for which you qualify so that you can be prepared before visiting a dealership.
  • Consider your down payment, as it will be a requirement for obtaining financing. The greater amount of your down payment, the smaller your monthly payment will be. More is always better. In addition, a higher down payment is viewed as a better risk for the dealer than someone who has a smaller one.
  • Gather the necessary paperwork (credit report, proofs of income and residence, insurance, etc.) and complete the online credit application for the dealer. This will likely save you quite a bit of time when you reach the car lot.

For more in-depth information about car loans after bankruptcy in St. Charles / St. Charles County, call the experts at 5 Star Auto Plaza at (636)940-7600.

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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 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 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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