Do You Need A Co-Signer For Auto Financing In St. Louis?

December 26, 2018  

Do You Need A Co-Signer For Auto Financing In St. Louis?

If you are considering buying a used car and are looking into co-signing for auto financing in St. Louis. Becoming the co-signer or co-signee is a huge responsibility. There are two basic scenarios that may require co-signing to be necessary. The first is a young, first-time car loan candidate with little to no credit history. A parent or other person can co-sign a car loan to help the individual start building credit. The second involves more risk. Someone with some blips on his credit report but who still needs reliable transportation can apply for financing with or without a co-signer. Sometimes a co-signer seals the deal for the application.

Whatever your circumstances, whether you are a co-signer or co-signee, it is important to realize that if the loan is not repaid with timely monthly payments or if the loan has defaulted or recurrent non-payment occurs, that the co-signer is accountable for the debt. A possible co-signer must also assess their own credit score to see how it can be affected by a possible financing problem. Weigh all the options very carefully before getting on board with this potentially hazardous relationship. Both parties should obtain a copy of all relevant paperwork regarding the auto loan.

Buy one of the premium trucks, cars, mini-vans or pre-owned Jeeps for sale with approved financing at the area’s leading dealership – 5 Star Auto Plaza.

For auto financing in St. Louis at reasonable rates for people with no credit, exceptional credit or less than stellar credit, talk with the sales professionals at 5 Star Auto Plaza by contacting them at (636) 940-7600. We have an extensive inventory of all kinds of vehicles and in every price range. Visit us today!

5Star auto plaza Review

5 Star Auto Plaza

5 Star Auto Plaza Review

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

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