Tips On Getting Great Interest Rates on Auto Loans in St. Charles

Tips On Getting Great Interest Rates on Auto Loans in St. Charles

February 2, 2021  

Tips On Getting Great Interest Rates on Auto Loans in St. Charles

A car is a substantial investment. Whether you are getting one for the first time or replacing a vehicle, finding good auto loans in St. Charles can be challenging if you are not sure where to look. 5 Star Auto Plaza understands this, which is why we have several finance options for our customers. When shopping for auto loans, there are certain things you want to keep in mind. Here are some tips we think you should know.

What’s Your Credit Score?

Most people know a good credit score is the best way to get excellent terms on an auto loan. But not everyone realizes the higher your credit rating is, the better your interest rate will be. A poor credit score means higher interest, so your car will cost more in the long run.

How Long Will You Be Paying on Your Loan?

Auto loans can have different terms, and many go for longer commitments because the payments are lower. The truth is longer commitments can mean higher interest rates. If you can go for a shorter payoff time, you may get better terms.

Good Credit Means Negotiating

When you have good credit, you may be able to negotiate your rates. Ask questions and talk to the dealership. Ask what you can do to decrease your interest rates. You might be surprised as to what you can negotiate. Also, ask about any current discounts or specials. If you don’t ask, you won’t know.

5 Star Auto Plaza wants to get you in the car of your dreams. We have a fantastic finance department that can help you with auto loans in St. Charles. We work with all types of credit, military, and first-time buyers. To find out how we help you call us at (636) 940-7600. We are happy to answer any of your questions.

Share