Obtain a Car Loan After a Foreclosure at Jefferson City Autoplex Finance, in Jefferson City, MO
If you have bad credit and it has led to a foreclosure, the Finance team at Jefferson City Autoplex Finance believes that you should still be able to get a hassle-free auto loan. Even if your foreclosure has already appeared on your credit report, the helpful Finance staff here at Jefferson City Autoplex Finance can assist you in obtaining a bad credit car loan.
Here are a few things to keep in mind when you apply for a bad credit car loan following a foreclosure:
- You can obtain a bad credit auto loan or sub-prime auto loan regardless of whether your foreclosure process is complete.
- Your current housing situation does not play a factor in obtaining a bad credit car loan. So, for instance, if you foreclosed on a property but you still reside there, your lender can use your mortgage payment to calculate your debt-to-income ratio.
- A greater down payment will be required with any bad credit auto loan; at least 20% of the vehicle's purchase price is common.
- The length of your bad credit auto loan will likely be significantly shorter than the terms of a conventional car loan.
Remember, if you live near Ashland, Westphalia or Jefferson City, MO, and your bad credit has led to a foreclosure, you can still get a bad credit auto loan at Jefferson City Autoplex Finance.