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Can You Have 2 Car Loans at the Same Time?

Buying a car is a fairly straightforward process. First, you find a vehicle that fits within your budget. Then, once you've either put money down or traded in your old vehicle (or both), you can drive the new one off the lot.

But can you finance two cars at once? If you're buying more than one car or buying another car before you've paid off your previous auto loan, things start to get more complicated. According to Suburban Finance, if you are buying two cars at the same time, you can get a single loan. That way, you'll only need to deal with one monthly payment.

Here are the steps you'll need to take to get a loan for two cars:

  1. Order your credit report from Equifax, Experian, or TransUnion, which are the three major credit bureaus. Review the report, and correct inaccurate information that could be driving down your credit score unnecessarily. You can correct inaccuracies by initiating a dispute with the relevant credit bureau online.
  2. Once you have your credit info, shop around at credit unions and banks, either in person or online, for a personal loan in the amount you're willing to spend. Do your research. Once you have provided the relevant documentation, you're approved for the loan, and the funds have been disbursed, you can deposit that money into your checking account.
  3. Shop until you find the two cars you'd like to buy.
  4. Pay the dealership or owner with the amount of the loan from your checking account.

Get A Loan with St. Louis Car Loan Experts

When shopping for your next car, truck, or SUV, bad credit ratings should not stop you from buying the vehicle you need. Purchasing a car can be a difficult experience when you are currently dealing with poor credit ratings or no credit at all. 

Many factors are taken into consideration when applying for an auto loan other than past credit history including time on your current job, how long you've lived at your current address, and the equity you have in your vehicle. 

Here at St. Louis Car Loan Experts, we believe in providing all drivers with an opportunity to receive a car loan for their purchase regardless of credit history. Learn more about our simple, easy, and hassle-free financing process and get started with your zero-down car loan today! 

How Do I Apply For Zero Down Car Loan?

Step 1: Submit a financing application and get pre-approved to buy a new or pre-owned vehicle.

Step 2: After you send us your application, our finance specialist will process your car loan request and you could be driving your dream car that same day! Don’t wait another minute stressing over your poor credit score.

That's really all it takes, as we take the hassle out of the process. You should also remember that before you buy your next car, make sure you get our bottom-dollar price so you can see for yourself that you are getting the best deal possible!

Zero Down Car Loans near St. Louis

Regardless of your credit history, we can help you! A proven way to improve your credit is by paying a monthly car payment on time each month, so not only will you have a means of transportation, you will be building your credit score too! Apply now and start building up your poor credit score today. Call us for financial assistance today.

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