Bankruptcy Auto Loans in St. Louis Can Be Affordable

October 2, 2018  

Credit Ratings Explained for Good Credit Auto Loans in St. Louis

When you need transportation, you must have it, whether your credit rating is excellent or if you have had some blips on your record. More dealerships each day are willing to provide financing for individuals with less than favorable credit scores and even offer bankruptcy auto loans in St. Louis.

Before you try to secure financing for a pre-owned car, you need to know your credit rating and credit score. There are a number of ways that you can access your credit report for free, so take advantage of the opportunity and find out where you stand before visiting the dealer.

Additional auto-buying and financing tips include:

  • Know whether your loan is reaffirmed or not. Continuing payments on a debt qualify as a reaffirmed loan.
  • Gather as much of a down payment as you can (more is better). If you have a title for your current vehicle, you can trade in the auto as a portion of your down payment. This will reduce the total amount of cash you must pay in advance for your purchase.
  • Your interest rate depends on how long ago your bankruptcy occurred. A long distant bankruptcy will allow you a lower interest rate. A more recent bankruptcy will cause you to pay more in interest.

When it is time to sign your loan contract, read it carefully to ensure that there are no hidden charges.  Paying your monthly loan debt in a timely fashion will elevate your credit score over time. After about 6-12 months, refinancing may be an option.

5 Star Auto Plaza will help you find a reliable used vehicle and supply affordable bankruptcy auto loans in St. Louis. Call (636) 940-7600 today.

5Star auto plaza Review

5 Star Auto Plaza

5 Star Auto Plaza Review

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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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    Review Your DealerExcellent, top notch service! We were treated with respect and they listened to our needs 100%- Will be back Read More
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    Review Your DealerI am glad I chose 5star Auto Plaza for my vehicle purchase. Read More
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    Review Your DealerReally good people who are out to help people get in position to help themselves. Read More
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    Review Your DealerGreat person to help with purchasing a car. Friendly and very professional. Thanks for all the help. Read More
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    Review Your DealerChris King was very informative about establishing my credit. Very informative on credit building. I was very pleased with customer service in the entire building. They kept me laughing. 5 Star Auto Plaza, you ROCK! Read More
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    Review Your DealerWe recently purchased a new car for our daughters 16th birthday from 5 Star Auto Plaza.  We were on a strict budget and needed a safe car, these guys really came through for us.  We were able to get a beautiful 2011 Volvo with low mileage and we got a great deal. Thanks guys! Read More
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    Review Your DealerI have purchased several cars from these guys in the last 10 years.  They have always taken great care of my and my family by giving fantastic service and competitive pricing on quality cars. Read More
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    Review Your DealerAnthony went the extra mile for us as we are in a difficult point in our lives. We had to file bankruptcy and our only car had a “terminal” problem. Thanks to 5 Star and Jack Adams we have a car beyond what we expected. Thank you!!! Read More
  • At 5 Star Auto Plaza, we believe buyers should have expectations.

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