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Posts in category St. Louis Auto Loan

The Things to Think About Before the Auto Loan

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To have a successful auto purchase, you need to get several things correct: choose the right car, get a good price, and fund your purchase in the most affordable way.

1) Manage your credit. Before you apply for an auto loan the first thing your should do is review your credit. Under federal law, all US consumers are entitled to a free credit report. Your credit score will affect the interest rate you get, so make sure its as good as possible. Your reports should show you if there anything that you need to fix. So fix them! Errors can keep your from getting the car you want.

2) Know how much you can spend. Budgeters already know this, but most people do not put enough in before it is too late. Get a clear idea of how much you can spend. Down payment, monthly payments should be all figured out before you start looking at cars. Falling in love with a vehicle before you know if it is in your budget is dangerous. Plus, some sales people can make it seem as if the car is affordable with fancy math and long term auto loans. In the end, you may end up with a loan that is too expensive that you will be stuck with for years.

3) Keep the big picture in mind. How much you pay now and how much the auto loan costs overall will be determined by the terms of your auto loan. Keep in mind that a low cost now may not mean low total costs for you in the long run. For instance, a lot of borrowers choose a low down payment because it is easier to manage today. The downside is that over time, it increases the total cost of your loan and leaves you upside-down.

Getting an Auto Loan St. Louis is easy with All Star Dodge, but you should be well prepared.

The Main Differences Between Mortgage and Auto Loans

Auto Loans St. LouisThere is a certain allure to a new car. And it isn’t just the new car smell! With the new year still just beginning, many of you will be in the market for a new car. Along with a new car, you might also be in the market for auto financing. Unless, of course, you plan to write a fat check for that new set of wheels.

If you are familiar with the mortgage or credit card environments, you should not be too unfamiliar with the auto loan environment. Any decisions you make about your credit application should be made based on many factors, like credit risk. Of course, you credit reports and FICO scores will be a part of the underwriting process.

Even thought the environments are similar, there are some major difference between a mortgage loan and an auto loan. The primary way they differ is based on the number of credit reports that are pulled as a part of the process. If you are hanging in the mortgage world, your FICO scores and all three of your credit reports are pulled. On the other hand, your auto loan will most likely be underwritten by a lender that only pulls one of those credit reports to accompany your FICO score. The great mystery is which one they will choose.

The auto loan you receive will vary depending on the lender, along with the make and model that you are financing. You might even end up with 0% interest, if your credit score is really good and you choose the right car. On the flip side, a poor credit rating could land you with 19% interest, or even worse, being denied.

Stay on top of your credit score and come see your St. Louis Auto Loan experts at All-Star Dodge!

Chrysler Group Pulls Best January Sales Numbers Since 2008!

Guaranteed Financing Auto Loan St LouisOn February 3rd, the Chrysler Group LLC released it’s sales results for the month of January 2014.  For the month, the company saw an 8 percent increase over the same month last year with total sale of 127,183 units.  These numbers were the best the brand has seen since January of 2008.  According to Reid Bigland, Head of U.S. Sales, “The bad weather only seemed to affect our competitors’ stores as we had a great January with sales up 8 percent and achieved our 46th-consecutive month of year-over-year sales increases.  In addition to a strong sales start to the year, last month we also reported 2013 full-year profits and unveiled the all-new Chrysler 200, our strongest entry yet in the mid-size sedan segment.”  

Additional sales highlight for the month included:

  • The Jeep brand had it’s best January sales ever with a 38 percent increase over last year.  Jeep Grand Cherokee sales were up 10 percent, Jeep Compass sales were up 31 percent, and the all-new Jeep Cherokee surpassed Wrangler sales for the second month in a row.
  • The Ram pickup truck gained numbers that were up by 22 percent over last year. The 2014 Ram 1500 was also honored by Autobytel.com as it’s “Pickup Truck of the Year” during the month of January.
  • The Chrysler brand had sales up 2 percent over last year with the Chrysler 200 having it’s best January ever and Chrysler Town & Country sales up 8 percent.   This was also the Town & Country’s best January since 2008.
  • The Dodge Grand Caravan had sales up by 47 percent over last year and it’s best January in two years.  Dodge Durango sales were up by 22 percent and the Challenger was honored with its third Polk Automotive Loyalty Award.

Come by All-Star Chrysler Dodge Jeep Ram to get your guaranteed auto loan St Louis today!

“Not-So-Perfect” Credit Auto Loan Advice

Auto Loan St Louis FinancingAre you dealing with the frustration of securing an auto loan with not-so-perfect credit?  If so, the auto loan experts at All-Star Chrysler Dodge Jeep Ram are here to help.  The All-Star team is comprise of the area’s leading auto loan professionals.  You really can not find a more helpful group of experts in the entire St Louis area!  Plus, thanks to their years of experience, the All-Star team can secure financing for those in any credit situation – good or the not-so-good.

Having an undesirable credit score can affect you as a consumer in many ways.  One, is in the case of needing to secure financing for a vehicle, home, or other large purchase.  If you are in this situation, there are some things you can do that will quickly get your score going up and to get on the good side of the lenders.  First, make sure you have a steady income and keep it.  A longer job history looks good on your application and helps prove your ability to pay for your monthly obligations.  Next, make sure your paying your bills on time or early.  Even if you haven’t been great at this in the past, start doing it now.  Lenders will look at your most recent history, so prove your intent by cleaning up your payment history before applying for a loan.  Finally, start saving.  Having a nice down payment of at least ten percent will help you get a loan and prove your commitment to making a monthly payment.

Don’t delay your next car purchase any longer!  Let the guaranteed auto loan St Louis financing professionals at All-Star Chrysler Dodge Jeep Ram assist you today!

Three Questions To Ask Before Applying For An Auto Loan

Dealer Financing Auto Loan St LouisIf you are currently in the market for an auto loan, there are three important questions you should be asking yourself.  These three questions refer to the biggest factors relating to your credit score and the type of interest rate you will receive.  Let’s take a look at what these questions are and why they are so important.

Do I currently have credit history and if so, how long is that history?  Your credit history refers to how long you have had credit and the manner in which you’ve handled that credit. In relation to your overall credit score, your history accounts for 15% of it.  So, if you don’t currently have credit or have only had credit for a short period of time, it’s a good idea to take steps to improve that standing before applying for a loan.

Do I have an acceptable debt to credit ratio?  An individual’s debt to credit ratio refers to the amount of credit you have used in comparison to the total amount extended by the lending agency.  The magic formula for this factor is to not have more than 10-20% of your total credit in use at any time.  So, if you have a total credit limit of $10,000 try to only have $1,000-$2,000 in use when applying for a loan.

Do I have any payments showing 30 days or longer past due?  Your ability to make payments early or on time accounts for about one third of your total score.  So, be sure you are paying on time for a number of months before applying for your auto loan.

Next time you’re in the market for a guaranteed auto loan in St Louis, contact the team at All-Star Chrysler Dodge Jeep Ram!

Get Your Next Auto Loan While Rates Are Still Low!

Auto Loan Financing St LouisAccording to many experts, 2014 will continue to be a great time to score low rates on your next auto loan.  In fact, many new Chrysler, Dodge, Jeep, and Ram vehicle buyers can currently quality for very low 0.0% APR Financing for up to 72 months!  That’s right!  The financing experts at All-Star Chrysler Dodge Jeep Ram can help many qualified buyers get a 0.0% APR Financing on their favorite new car, truck, SUV, or minivan today!  To get in on these incredible deals, we encourage you to do a few things:

  1. Check into your current financial status by viewing your credit report and becoming aware of your credit score.  These credit details will be used to determine your ability to take part in these low interest rates.
  2. Clean up any errors on your credit report and make sure you continue to pay all of your bills on time or early.
  3. Make sure you have proof of a reliable income source.  The longer you’ve been at a place of employment, the better.
  4. Save for a down payment.  The exact amount you will need can only be determined by an auto loan professional, but having at least ten percent is a good start.  Also, having extra to pay for tax, title, and license fees will help reduce your monthly obligation.
  5. Research the type of vehicle or vehicles you are interested in.  Having a good idea regarding what you want will help you research the best time to get a low rate.
  6. Now that you are ready to seriously shop, take the time to get pre-approved.  The team at All-Star can assist you with this process either in person, over the phone, or via the Pre-Approval Credit Application function at www.314allstar.com.

Thank you for considering a new auto loan in St Louis from All-Star Chrysler Dodge Jeep Ram!

2014’s Auto Loan Forecast!

Dealer Finance Auto Loan St LouisAccording to analysts at Edmunds.com, car sales are expected to top the 16 million mark during 2014, a number not seen within the industry since 2007.  This number will top 2013’s predicted estimate of 15.5 million by six percent and beat sales of 16.5 million seen in 2006.

Much of this prediction has to do with the average age of vehicles on the road in the United States.  As of now, the average age of a vehicle on American roads is about 11.4 years old. This number is up from 2012’s average of 11 years and puts the normal driver at about 170,000 miles when driving about 15,000 miles per year.  This means drivers will soon be forced into a new or slightly lower mileage vehicle.  Lacey Plache, chief economist for Edmunds.com, commented that, “We’re already getting past a pretty substantial mileage. Cars are going to start breaking down.  Cars are getting older and older, and that’s going to force people back to the market and get new cars.”  Also contributing to the rise in auto sales will be the 300,000 lease customers whose contracts will end during 2014.

Consumers are also liking the historically low interest rates of late and the increasing availability of credit, especially to those with a not-so-perfect score.  Plache continued with, “There’s no reason to believe the current economic climate is going to suddenly cause a longer term slowdown to auto sales.  Credit is still widely available, interest rates are still low, and aside from the furloughed employees, the job situation hasn’t dramatically deteriorated. … We’re in a bit of a short-term crisis.”

Are you one of the many Americans running around in an eleven year old vehicle?  If so, take the worry out of driving by visiting All-Star Chrysler Dodge Jeep Ram.  The All-Star team can guarantee your credit approval and get you the much needed dealer auto loan St Louis financing you need!  Visit All-Star today and be on the road in a new vehicle tomorrow!

Get the Auto Loan You Need at All-Star!

Car Financing Auto Loan St LouisHave you found it difficult to get the auto loan financing you need in the St. Louis area?  If so, the team at All-Star Chrysler Dodge Jeep Ram invites you to come see what guaranteed financing looks like!  That’s right!  The auto loan experts at All-Star guarantee to work with you in whatever way is needed in order to secure your auto loan financing.  Plus, securing an auto loan with All-Star and paying it on time can help improve your overall credit score better than other forms of credit such as credit cards.  This is because many lending institutions lean heavily on your car payment history in comparison to your other debts.  For you this means you’ll get the vehicle you need and start building better credit.  Now that’s a win-win for everyone!

So, what if you don’s have credit issues?  Is it still smart to use a lender like those at All-Star Chrysler Dodge Jeep Ram?  The simple answer to that question is, YES!  The auto loan team at All-Star doesn’t just work with those how have credit issues and encourage those with good outstanding credit to give them a call.  Thanks to the All-Star team’s access to an abundance of lenders and the good credit of a buyer, All-Star can offer some of the lowest rates and most flexible terms in the area!  This means our buyers leave with the most-affordable monthly payment and save money over the full course of the loan.

The only question left to ask is, “What are you waiting for?”  Get into your Glendale area auto loan St Louis dealer, All-Star Chrysler Dodge Jeep Ram, to secure the auto financing you need right now!

Auto Loan Advice For Teen-Aged Buyers

Auto Loan St Louis Financing DealerApplying for your first auto loan can be an overwhelming experience!  There’s so much paperwork and the worry that you won’t qualify based upon a lack of credit.  That’s why so many teenage drivers choose the auto loan professionals at All-Star Dodge.  The All-Star auto loan team is always ready to do whatever it takes to get everyone approved, whether they have or don’t have an established credit history.  Today, let’s go over some tips aimed specifically at helping teen drivers get the auto loan St Louis financing they need.

  • Go over the total cost of car ownership with your teen driver.  Many teens don’t understand the full scope of how much owning a car really costs.  Not only is there the initial price of the vehicle, but you have to also factor in insurance, gas, a down payment, taxes, fees, and maintenance.  Make sure to discuss all of these factors before you begin looking.
  • Buying used really is the best option.  A well-maintained used, affordably priced used car is usually the best-bet for a teen driver.  New cars loose so much value upon purchase and teens don’t have that king of money to throw-away.
  • Help your teen establish reliable credit by assisting them in opening up a checking account and encouraging them to get, and keep a job.  These are ways that allow someone to build reliability without going further into debt.
  • Discuss the full ramifications of getting a loan for a vehicle.  Make sure your teenager realizes that this loan will require a monthly payment and that it will need to be made on time or soon – every month.  A loan is a huge responsibility and if you don’t feel like your teen can handle it, make them save up and pay cash for the car they purchase.

Be sure to visit your Oakville area auto loan St Louis experts at All-Star today!

Car Buying Tips from All-Star’s Auto Loan Experts!

Auto Loan Dealership St LouisThe auto loan experts at All-Star Chrysler Dodge Jeep Ram are always ready to assist St Louis residents with all their purchasing and financing questions!  Today, these experts wanted to share a few tips you can use the next time your in the market for a new or used car!  Let’s take a look at what they recommend!

  • Do your research and pick what model you want before going to the dealership.  This may include getting information online, from other owners, and from a test drive.
  • Get accurate pricing information from a third-party like Edmunds.com.
  • Find a dealer that you want to make your purchase with.  If you are in the St Louis area, the finance team at All-Star will obviously direct your toward the sales team there.  But, don’t choose based completely on our opinion, ask around and get to know a few dealers before you choose.
  • Be up-front with your dealer.  Tell them that you have done your research and are willing to pay a fair profit, but not willing to play the back and forth games often associated with a car deal.  Remember that, unless it is a hard to find vehicle, fair profit is around 3% over invoice.
  • Only give a dealer your social security number is you are okay with them looking at your credit.  That is the only reason they would need that type of personal information.
  • Read every thing you sign.  Go over all the numbers for accuracy and take your time!
  • Don’t get into a situation where you feel pressured to make a bad decision.  If you or your spouse become uncomfortable, simply leave and find another dealer.

For a no-hassle, fair deal pick All-Star for your next car purchase and St Louis new car auto loan!