Reduce your car payments when you have restored your credit ratings….read more

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$3,995 more for my $15,000 automobile purchase WHAT?????

I had an opportunity today to speak with the finance and insurance manager at a car dealership in Washington, Missouri today.  He was very helpful and totally sympathetic in what people run into when they have less than perfect credit and they are applying for a car loan.  Although he has multiple loan companies that will ‘buy the paper contract’ at very high (loan sharking rates) up to 15% sometimes, do you know what that will do to your payment?


If competitive market rates are let’s say 3-4%, your payment would be approximately $332 a month on a car for 4 years.  That same $15,000 car would be $417 a month or an $85 a month increase cost for 48 months.  When you take that extra $85 a month x 48 payments, you are looking at an additional cost of almost $4,000 ($3,995) over the course of that 48 month term to pay for the same exact car.  Your increased rate from 4% to 15% because of less than perfect credit is evidently a real direct cost to your wallet and your pocketbook.

Even if you get the loan, consult with me today and let’s get your less than perfect credit restoration started right away.  That way hopefully the next time you need to purchase a car you are looking at a more favorable rate and you can put that extra money into savings instead.   Let’s work together to make this shadow from hanging over your head anymore.

Are you ready to get started?  Call Donna Joerling 314.808.1712



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