Don’t Let the Fear of Bad Credit Keep You from Financing a St. Louis Vehicle

Posted on May 23, 2011 by Addison Craig

Because we have been helping consumers with less-than-perfect credit secure financing for auto loans for many years, we’ve seen many customers resist the idea of financing a vehicle when they have bad credit out of fear of rejection. While it is always financially smart to keep your credit score improving, our financial experts at St. Louis Auto Stop know that sometimes things happen that are out of our control.

Unfortunately, fear is a big factor in people’s move to finance a vehicle with bad credit. They are too embarrassed to seek out auto financing because they may fear rejection. If you have enough income to afford the car note but not enough good credit history to get financing with traditional lenders, let the experts at the St. Louis Auto Stop dealership help.

We know that it can be a confusing time but if you know you can reasonably afford your vehicle payment, there is no reason why you should not be driving off of our St. Louis lot in a great used vehicle. We can work with you not only to find the right vehicle for you but one that is well within your budget. As long as you are gainfully employed, we can find a solution to your driving needs.

Don’t put off your auto financing quest any longer. Come to our St. Louis Auto Stop dealership now and find out how your bad credit financing can be good for your future credit score.

St. Louis Auto Stop Knows Bad Credit Happens to Good People

Posted on May 2, 2011 by Addison Craig

In light of the many recent changes in the financial industry, sometimes good people have credit hardships. One of the downsides of bad credit is the inability to get a loan for a vehicle that gets you to where you earn income. Without a way to get to work, you stand little chance of getting ahead in your financial life. But St. Louis Auto Stop has been catering to customers with unexpected credit and financial issues and knows that not all bad credit means good people are irresponsible.

Seeking an auto loan with bad credit in St. Louis may not be easy but we have been working with customers to get them the vehicle they need to keep income flowing. Getting to work is an essential part of financial stability so you need a vehicle you can rely on.

Bad credit loans may not be enough to help you finance a St. Louis used vehicle but we are here to help you. Feeling overwhelmed by the credit history following you is not unusual but getting back on financial track can be done with an auto loan.

Don’t let bad credit keep you in a financial bind. Get the car you need to get back to work every day instead of sinking more money into a vehicle that is essentially falling apart. St. Louis Auto Stop’s financial experts will be waiting for you and look forward to helping you get the right vehicle.

Used Car Financing – A Table of Credit Scores

Posted on April 1, 2011 by Addison Craig

We’ve talked a lot about credit scores and how they affect you if you’re looking for bad credit car financing in St. Louis. And we’ve spent a lot of time explaining the ins and outs of credit scores.

Now that we’ve gone into the details, we thought it might be useful for us to give you a quick reference tool. A table of different credit scores and where they are generally considered to fall (good, subprime, bad, etc.).

Here’s our quick credit score reference table.

Super Prime Credit Scores
• FICO Score of 740 or greater
• Vantage Score of 801-999

Prime Credit Scores
• FICO Score of 680-739
• Vantage Score of 701-800

Non-Prime Credit Scores
• FICO Score of 620-679
• Vantage Score of 641-700

Sub Prime Credit Scores (getting into the bad credit car loan area)
• FICO Score of 550-619
• Vantage Score of 601-640

Deep Subprime Credit Scores
• FICO Score less than 550
• Vantage Score between 501-600

As noted in the table, once you start to dip into the realm of sub prime credit scores, it’s a good idea to at least keep the idea of a bad credit car loan on your radar. They’re useful tools for people who have had a rocky credit history, and may be the difference between getting a vehicle and not getting one. They’re not the best solution for everyone who’s car shopping, but it’s good to know they’re out there. And if you pay on time consistently, you could be rebuilding your credit along the way.

Different Credit Profiles – The Benefits of Having Good Credit

Posted on March 16, 2011 by Addison Craig

We’ve been talking a lot about Bad Credit Loans. How to apply for them, how to make them work, and what to expect when you actually get a bad credit loan.

But we don’t want to make you think that a used car dealer is all about the bad credit car loan. The truth is that buying a used car instead of a new car is a great way to stay within your means and actually build credit. Paying off a used car loan is a great way to build your credit from fair to good.

And we thought it would make a lot of sense to talk about what it means to have good credit. There are a lot of benefits to having good credit, and even if your credit isn’t that great, building good credit is not necessarily out of your reach. It’s all about setting long term goals, and taking the short term steps to accomplish them.

People who have good credit essentially need to prove that they have taken on agreements, and then paid them “as agreed” over a period of time. Usually that period of time is three years or more. In general, credit reports that contain items that are “unapplied for” don’t count against your credit score. Things like medical bills, judgments, and other derogatory items that happen not as a result of loans applied for are often disregarded.

Even if you have had major issues with your credit (foreclosures, bankruptcy, or repossessions), if they have happened more than three years ago, you may have been able to shake them off. As long as you haven’t had a pattern of scrapes to your credit score, you can often shake things off.