Well, I'm 24, I have a career that pays enough to manage whatever 8 i was thinking of aquiring. When I was younger & at college, my credit was tarnished pretty bad via an old car loan and a credit card with a limit of 2k. I was young, naive, didn't listen to the elders, and made my own mistakes to pretty much have an opiphany on what the hell i am doing. I know a site like lendingtree.com is bad b/c of all of the credit requests that loan companies do to access your info. The amazing/horrible approves everyone Capital One.........rejected me. Am I S.O.L.? Any options besides maintaining good credit for years?

 

big down payment....

 

accept dealer financing at a bad rate and make DBL payments / pay off early. If you get declined by the dealership then your really SOL. You will have to drive less of a car till you can finance a newer one.

 

The idea of driving less of a car after not even being fully immersed into what i see is called "the addicition." I dont know if I can last that long. Even the research process of this car consumes my day @ work. (when it's a slow day)

 

You could buy a used one at less money. Banks might like that more. Make timely payments and build the credit back up. Or a hefty down payment on a new one.

 

exactly ... 4-6k down and you can get one.

 

With 620 points by mazda american is good credit . with that score you could get the rates that offered for new car rates. now low special financing you would not qualify that is for excellente credit.

A big down may help but also the bank may put stipulation and add extended warraties etc..

 

I agree, young buyer, good job, big down payemnt on a New Mazda and you should be a tier 3. Should be good for low double digits for 72 months or roughly $20/ thousand financed.

Capital one has changed a bit, they are cherry pickign more in this market and have moved on moreso to customers that will likely give them a lower yielding but bettter performing portfolio.