Hi, I am 21 years old and college student and I just wanted to know if I would be eligible to get financing at a decent rate through mazdausa or a bank? My experian credit score is a 692 and I currently own a business and make about 60-70k a year, I am worried because of my age and that my credit score isn't the best. Can anyone familiar with the process give me some insight?

 

Your credit score should be fine. Go for it

 

692...what was the question?

 

Question was is it good enough to get a low rate thanks cgrx

 

It should be fine. I'm in the same boat as you. My score is higher but my income is a little lower. My previous "High" loan was my last car- 22k. The loan I have now easily tops that. ( added $ to currrent loan due to trade in) and I got a little over 5%.

Good luck

 

Oh yea, that is through Capitol One. Mazda has no special financing on the 8 ATT.

 

Alright, I'll look into that.

Does anyone know any good dealerships they had expreience with in Texas?

 

Well, you're definitely lying about your income, and banks are able to verify that, and don't like that too much....

If you were making $60-70K, then you would not have the time for college buddy, especially at 21....

Just be honest.....

 

I'm being honest, thanks.

 

I made 70 my last year of college as well,and that 8 years ago.You know pimpin aint easy though.

 

I run a computer business on ebay, an am currently developinging a storefront, it's very possible, i'd have no reason to lie on here

 

Well e-loan and capital one turned me down, probably because i have another car loan im paying off and i only have <4 years credit history

 

what kind of a computer business do you run on ebay??? pm me back im interested in what you are carrying.

 

Exactly, if you were making $60-70K, you would not have gotten turned down.... Especially if your credit score is where you say it is.....

 

The reason i got turned down is because i'm self employed and they could not verify my income (or would not), I'm getting tired of comments like yours, email me at chris@hailmicro.com and I'll send you snapshots of my credit report if you'd like.

 

Don't be discouraged, ChrisOh.
There are plenty of lazy "haters" out there.

I am in a similar situation in that the vast majority of my income is "undocumented".
Try buying a house that way. It is difficult.
If your income is 1099 or cash-basis, the banks want you to just go and use cash.

At your income level, I recommend that you buy some property as soon as you can.
Not only is it a good investment, but it immediately jacks your credit potential to the sky.

 

That is F#$% lame !

Save up and throw down a huge downpayment - or pay off the other car. I only have 2.5 years of credit history ..... But My income is very provable.....

 

Yeah, it BLOWS