Take Advantage Of Helpful Used Car Buying Tips with Poor Credit in St. Louis
February 11, 2020
It’s not always easy to purchase a used car if you don’t have a strong credit history. But if you currently have poor credit or a total lack of credit, this doesn’t mean that it’s impossible to attain an auto loan. By taking advantage of a few used car buying tips with poor credit in St. Louis, you’ll be in a better position to gain approval for an auto loan.
If you don’t have the money to pay for your whole car upfront, you’ll most likely need to access auto financing. While this can be tricky for people that don’t have stellar credit, it’s not impossible. First, you should speak to your lender about requirements to determine if you’re eligible for their financing.
While many lenders will only provide loans to people with excellent credit, others are much more likely to offer to finance to individuals with poor credit histories. In some cases, these lenders may require larger down payments or other financial assurances that you can make your payments. Alternatively, some lenders may be willing to look at your income as the main indicator of whether you can pay back the loan.
Either way, it’s always important to check your credit score before you apply for a loan. Not only will this help you avoid applying for loans you can’t access, but it will also ensure you find any mistakes that are potentially dragging down your score. Additionally, if you’re able to pay down credit card debt, you can see considerable improvements in your score within a month.
Now that you’ve read our few used car buying tips with poor credit in St. Louis, it’s time to put a plan into action. At 5 Star Auto Plaza, we offer financing options to clients that don’t have perfect credit history — we can work with you to obtain a loan for the car of your dreams. If you’re hoping to buy a new vehicle, or you have any questions about our auto loans, feel free to contact our team at (636) 940-7600.