Live in O’Fallon & Have Bad Credit? Check Out These Used Car Buying Tips!
March 16, 2021
Most people think if you have bad credit, you cannot get a car loan. That is not the case with us. At 5 Star Auto Plaza, we specialize in working with folks that have less than stellar credit. We understand life happens, and in this current situation, it happens more often. Here are some used car buying tips with poor credit in O’Fallon.
Look for a Lender That Works with Poor Credit Applicants
You want to find a lender that knows how to help you with financing if you have bad credit. When you work with us, we use our resources to find the best possible financing for your situation. We have cars to sell, and you need one. Remember that if you have a low credit score, your interest rates will be a bit higher in most cases.
Trade-in a Vehicle or Up Your Down Payment
One way you can show the lender you mean business is to put a larger than required down payment on the vehicle. This helps keep the payments and interest down and shows you are willing to do what you need to do to purchase a car. Trading a vehicle is another option that can reduce the amount you owe on a pre-owned vehicle.
Benefits of Buying a Pre-Owned Car
Used cars cost much less than a brand new vehicle. Cars today are built to last, and with our low-mileage cars, you can get years of service from them. Plus, bad credit makes it almost impossible to buy a brand new vehicle. With a pre-owned vehicle loan, you can get the car you need.