Auto Loans after Bankruptcy in St. Louis / St. Louis County
October 16, 2015
Filing for Chapter 7 or Chapter 13 bankruptcy can be a devastating decision and a frustrating process. Then, your car breaks down. What more can happen, right? In spite of your financial issues, there are options for auto loans after bankruptcy in St. Louis / St. Louis County to secure affordable and dependable transportation. Many dealers are even eager to extend credit to subprime candidates.
Before beginning your pre-owned vehicle search it is important to know where you will stand with the dealership. Obtain a copy of your credit report and credit score online and examine it for errors. If you locate any, address those right away. Correcting mistakes can raise your score significantly, although it may take a little time.
Gather as much of a down payment as you can, as lenders will view your situation more favorably if you have more funds. A bigger down payment will also guarantee lower monthly loan payments and paying less interest over the term of the financing.
Loan approval is easy and can even be completed online at your convenience. Be sure to have the necessary documentation to fill out the required information, including proofs of residence, insurance and employment.
After at least 6 months of timely loan payments, you always have the option later to refinance or trade-in and up for a newer auto and your credit is steadily improving throughout the period.
Call 5 Star Auto Plaza at (636)940-7600 today to inquire about auto loans after bankruptcy in St. Louis / St. Louis County, Missouri. We are ready to assist you in finding a great used car with reliable financing availability.