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

  • 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
  • At 5 Star Auto Plaza, we believe buyers should have expectations.

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