Ok, the deal is I'm 20 years old, and while I have great credit (735 score) but I don't have much income and no collarteral. I receive checks from my school from scholarships and what not, and I am starting a job soon that pays decent (about $450 a month, PT). My total monthly income is about $1000. This is the first vehicle I've owned in my name, and obviously the first I've financed. The vehicle is $32,000 and I'll be putting $15,000 down. Think I can get financing from Mazda or do I need my father to cosign?

 

With 15K down and a score of 735, you should be able to finance. Most people don't even have a score that high. Go to your bank 1st. Try to avoid the dealer.

 

With 15 k down it really helps. But, your lack of monthly income will hinder your chances. For example, Capital one auto finance won't even look at your application unless you make at least $1500/month. I agree with Jeff--Go to your bank/credit union first and be prepared to ask papa for a little assistance Damn good credit score too, by the way... How did you get such a good score at 20? Good luck with financing!!

 

Maybe his parents used his name to purchase big items to get that high credit score? How do you know for sure it's 735? I ran a credit check prior to going in so I would know all the ins and outs without having the dealer BS me about my credit etc... I have a 790 as of that day, meaning I had 800 before they checked it.

 

i checked it the other day at consumerinfo.com. my credit is high since i've had credit cards for the last 5 years, and actually used them and paid them off. all my bills and utilities as well as my house rent are all in my name, but they didn't mention that on the report. my dad didn't really feel like comin up here, but I'm gonna have him go with me since i've never done this before.

ill let you all know though....2 days and counting!! Ti Gray 6 speed GT

 

FYI: A self check of your credit report does not affect the score.

 

I was about to say that myself... that website does not do a thorough background check of your credit. Just remember you get dropped 10 points per REAL check :P

Also it blows if they mess up your credit by applying for a credit card and getting rejected.

epitro has to have like Platinum credit cards and pay them off every month. Perhaps own a house or other automobiles in the last few years to reach 735 or so.

 

i traded in all my platinum cards for a uranium card lol

im just gonna have my dad cosign for me, that way i wont blow 10 points on a worthless check.