Bankruptcy Auto Loans in Wentzville are Available
June 17, 2016
You likely are aware that filing bankruptcy recently or in the distant past has a negative effect on your credit rating. Many lenders are reluctant to offer financing for a high dollar purchase like a vehicle or a home. There are dealerships, however, who are willing to work with you to buy a car even with black marks on your credit. There are a number of steps you can take to ensure that you are prepared for auto loans after bankruptcy in Wentzville. Here are four important ones:
- Secure a copy of your credit report. You are entitled to one free copy annually. In addition, pay the small fee to obtain your credit score as well. If there are errors, begin the slow process of correcting them since this will increase your score.
- Carefully evaluate how much you can spend on pre-owned Acura cars for sale or another make and model. Be sure to include not only the cost of a monthly note but fuel, fees, insurance and maintenance.
- The larger your down payment, the better. This is viewed in a positive light by a dealer and saves you money over the term or the loan.
- There are probably many dealerships from which to choose in the St. Louis area. Get recommendations from friends and family for one who is reliable and honest.
For equitable auto loans after bankruptcy in Wentzville and dependable pre-owned vehicles, contact 5 Star Auto Plaza at (636)940-7600. Our inventory is extensive and our team is ready to assist you throughout the loan application process.