Financing a car with poor credit was once nearly impossible. Then we emerged as a market-leader. Nobody knows bad credit auto loans like us.
Everyday, we help men and women in Saint Louis get approved for auto financing regardless of:
- Subprime Credit
- No Credit
- Property Foreclosure
- Credit Card Debt
It’s our specialty. Ready to get started? Visit here to submit your application.
Bad Credit Car Dealers in Saint Louis, MO
Don’t let credit stand in the way of your new car. We have access to dealers all across Missouri that won’t turn you away, simply because your credit isn’t ideal. Compared to a BHPH dealer, such dealerships are able to offer:
- More competitive interest rates.
- Less significant down payments.
- More favorable lending terms.
- Chance to re-establish your credit.
You may not be able to finance the higher-priced cars on the lot. With poor credit, the upper limit of what you can borrow is 6 to 8 times your monthly income. For the Saint Louis consumer who makes $2,094 each month, this is $12,564 to $16,752. With that being said, it’s far better to borrow a smaller amount, reducing your monthly payment to just 10% of your income–$209, in this situation. Submit your application to talk with a lending specialist about your options.
Essential Documentation for Saint Louis Residents
Most likely you’ll need to take certain documents with you in order to secure your loan. As a rule, you will need the following documents to get fully financed:
- Personal Identification
- Proof of Employment
- Proof of Insurance
- Proof of Residence
- List of Three Personal References
When you submit your application, we match you with an auto lending expert who will guide you step by step through the process.
In House Financing Car Lots in Saint Louis, MO
Often known as buy here pay here, tote the note, or your job is your credit car dealerships, these establishments typically have a few primary features. They…
- Grant auto loans on-site.
- Do not check your credit.
- Want you to make payments each week, often at the lot.
Many folks with really horrible credit believe that a buy here pay here car lot is the only establishment that will accept their credit, even though auto loans from banks and credit unions typically involve more affordable rates.
In all actually, even people with 500 credit scores can often get approved through a non-BHPH lender. There are all kinds of companies that offer better rates and terms, and allow you to purchase your vehicle from a regular dealership. Simply apply online, and we’ll place your application in the capable hands of a finance professional who can guide you through the process. They can get you behind the car of the vehicle you want at a rate that won’t drain your bank account. Not only that, they can help you improve your credit scores along the way.
Recommendations for Financing
Here’s a solid guideline to follow: not more than 10% of what you earn per month should be devoted to your loan payment. At the same time, opt for a 60-month repayment at the very most. With this payment and finance term, you will be purchasing a car or truck that costs roughly half of what you get paid on an annual basis (pre-tax). For Saint Louis residents with incomes of $25,124 per annum, the per capita average, this is $12,564. Bear in mind, this is the maximum amount you should budget. Many experts advise spending just 10-30% of your income for a new car or truck.