Don’t Let Bankruptcy Stop Your From Getting an Auto Loan in O’Fallon
December 8, 2020
If you have had to declare bankruptcy or have poor credit for other reasons, you may feel embarrassed even to seek an auto loan. At 5 Star Auto Plaza, we understand that things happen, often through no fault of our own, and that everyone needs a hand up at some point. That is why we offer bankruptcy auto loans in O’Fallon. You can’t better yourself or work if you don’t have a vehicle. We are here to help.
Know Your Credit Score Ahead of Time
One thing that can help when seeking a loan is knowing your credit score before coming into the dealership. When you obtain your credit rating, go over it very carefully. You would be surprised at the mistakes that can be found on credit reports. If you do find issues, get them corrected as soon as possible. It can often change your score.
Save for a Down Payment
Another thing that can make a difference if you have poor credit is your down payment size. It can benefit you in two ways:
- The bigger your down payment, the less your monthly payment will be
- The lender looks at a more significant down payment as your commitment to pay
We Can Help Get You the Loan You Need
While we cannot guarantee we can give everyone an auto loan, we do our best to get you the vehicle you want. Our financial team will sit down with you and go over all your options. Having bad credit doesn’t mean you cannot get a loan. It merely means the terms may be different. Contact 5 Star Auto Plaza at (636) 940-7600 for more information on bankruptcy auto loans in O’Fallon.