What You Need for Auto Financing in St. Louis

August 14, 2015  

Applying and qualifying for auto financing in St. Louis is not as complicated as it may first appear. There are, however, several factors for consideration and necessary requirements that must be fulfilled to secure an affordable car loan.

What You Need for Auto Financing in St. Louis

Of primary importance is separating your gross and net incomes, as they are quite different. Gross income is the amount you earn before taxes are deducted. Net wages comprise your actual “take-home” pay. Loan officials base your income on your primary means of employment, even if you have more than one job. The second and subsequent sources of money are not counted.

Additional monies that you may receive from unemployment, social security and disability are also not viewed as part of your income. A lender will also look over your debt to income ratio. This figure is determined by dividing your earnings by your debts. Ideally, this amount should be no more than 20-30%. A healthy down payment will reduce your overall loan repayment. For purchasing pre-owned vehicles, a down payment of at least 10% of the auto’s cost is usually necessary, although exceptions are certainly possible.

For an even better used car deal, cars, trucks and one owner SUVs for sale may offer more value and longevity for the price.

Consult the expert sales and lending professionals at 5 Star Auto Plaza at (636)940-7600 to discuss your options for auto financing in St. Louis. We are ready to supply not only the perfect used vehicle for your specific needs, but cost-effective financing for every circumstance.

 

5Star auto plaza Review
HungryFEED can't get feed. Don't be mad at HungryFEED. SimplePie reported: A feed could not be found at http://5starautosalesreview.com/feed/. A feed with an invalid mime type may fall victim to this error, or SimplePie was unable to auto-discover it.. Use force_feed() if you are certain this URL is a real feed.

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

Read More
Consumer Satisfaction Reward
Powered by Top Marketing Agency     |     Sitemap | Privacy Policy