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

August 17, 2016  

Credit Ratings Explained for Good Credit Auto Loans in St. LouisRelying on credit rather than cash is a common practice in the United States. Most people utilize financing for credit cards and large purchases like homes or cars. Before you buy that vehicle or house, let’s examine the 4 basic types of credit that lenders typically see:

  • With good or excellent credit, or a score of 720 or higher, you can virtually name your terms when seeking good credit auto loans in St. Louis. There are no black marks on your credit (no late payments, etc.).
  • Poor credit results from loan default, filing bankruptcy, many late credit payments, job loss, medical expenses, etc. It is not impossible to acquire financing with poor credit, but there may be challenges.
  • Having an average credit rating means that you usually make payments on time but may have a few late ones and you may have too much credit. It is generally fairly simple to get financing with average credit.
  • The last type of credit rating is not having any credit at all for used Volkswagen cars for sale. This encompasses first-time credit buyers with no credit history.

No matter what type of credit you have, it is usually possible to buy a used car with dealership financing. If you have time and your credit is lower than you would like it to be, take the time to build it higher. A credit counselor is an excellent source of information on this topic.

5 Star Auto Plaza has a variety of financing options, including good credit auto loans in St. Louis. Call (636)940-7600 to speak with a sales representative.

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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
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