Bankruptcy Could Be A New Beginning If You Need An Auto Loan In St. Peters
April 26, 2022
At 5 Star Auto Plaza, we understand that filing for bankruptcy can feel like a dehumanizing experience. It’s hard to drown in debt and admit it when you need a reset. This is why, when you’re ready to build a new credit score, we can help you with approval for bankruptcy auto loans in St. Peters. It could be a new beginning for your finances, one where you have the most control over your bills after bankruptcy.
In the midst of bankruptcy, you’ve probably had horrible thoughts about what could be regarding your finances. The good news is that most, if not all, of those thoughts, are way off base. Bankruptcy is rough, but the world doesn’t stop spinning or give you happy moments because of one low moment in your finances.
Let 5 Star Auto Plaza help you pick up the pieces and get back on track. With a new auto loan, you could set a monthly scheduled payment that works best for your current financial situation. Yes, the interest rate may be higher because of your bankruptcy status, but that rate will lower as credit lenders see your financial reliability and responsibility.
When Can You Apply for an Auto Loan After Bankruptcy?
Ideally, it would help if you waited two years to apply for an auto loan following the bankruptcy. Auto loans are considered major loans, and they have a big impact on your credit score. You can use a secured credit card in the meantime to make small purchases and incrementally increase your credit score to better the chances of auto loan approval when the time comes.
Call (636) 940-7600 to schedule a consultation about your options for bankruptcy auto loans in St. Peters. We would be happy to help you with a new beginning as both a driver and a financially independent person.