I don't know what I'm doing wrong... God... when I got that eMail from them I was devistated... I mean I'm not rich but make decent money... Got one bill (my cell bill) and no rent (live with family) and I'm 21. Is that it? My age??? Gosh I want this car so bad... I test drove it three times last week at my local Infiniti Dealer... and once the week before... What pisses me off is that I qualify for a 2003 Z, a 2002 WRX and several regular car's... But god I really want this car... I've lived here for well over 3 years... I don't know what the problem is... My guess it's my age...

 

Ya sound like a good risk to me bro. Re-apply or contact them by phone and explain. You should qualify. [img]/w3timages/icons/smile.gif[/img]

<font color=red>GSM</font color=red>

 

the fact that you've been approved for those other two cars probably hurt your chances of being approved for this one... remember you're allowed two auto loan inquiries per year, beyond that it looks like you're desperate for auto credit. Also, your automobile credit score depends on a lot more than just income and age, it depends on your credit history... if you've never had more any previous significant auto loans then you jump out and are asking for 30-40K, then you will definitely need a parent to cosign.

 

yeah... he's right... it really depends on your credit history... i'm only 18 and i pay for my cellphone bill and 5 other credit cards, but i know i don't pass to receive auto credit... i just got someone to co-sign for me. anyways, i think i would have to be 21 to buy a car anyways.

<font color=blue>can't wait til my baby arrives!</font color=blue>[img]/w3timages/icons/smile.gif[/img]

 

Do you guys think I should get a co-sign or it wouldn't work? God I'd be kinda embarrased if it went through hehe... Knowning that I had to depend on someone to get a ride...

 

Did you try applying for a loan with IFS? I tried PeopleFirst and they turned me down but at the dealer they got me 5.9%. I'm happy with it since it's my first auto loan.
Good Luck

 

well. you've made a good decision to get pre qualified and even better pre approved... however, a perfect credit score is 850 and I'd image you're anywhere in the range of 550 to 650... yes a very big range, but it's still not prime credit... bottom line is that even thought you don't have any bad credit... you have very little credit... and most likely the credit that you do have is for very small amounts and probably revolving...

don't be ashamed at all... you're only 21 and in the process of building credit, but now that you know how important it is, don't ever do anything to mess it up...

Getting your mom or dad to cosign is perfectly legitimate and nothing to be embarassed about... You will be building credit for yourself and your parent... you share the risks and the rewards of the "joint" loan... so if you miss any payments, it will reflect negatively for both you and your cosigner... In the future when you go to buy a car and they pull your credit it will show that you had an auto loan for appr. 35K and the credit report will show a "J" next to that loan... it will not say "his mom helped him get the loan"... it will simply show a "J" for joint...

 

dude just have one of your parents co-sign, and put the title in their name, insurance for someone our age is EXPENSIVE, i got quoted for $2,000/6mo. here in Detroit, by having a parent co-sign, you can also put the title/insurance in their name and thus pay only $500/6mo. for insurance
well worth it.

<font color=green>-Ramb0</font color=green>

 

Have you tried the Infiniti pre-approval. I'm not saying finance through Infiniti, but just get pre-approved. If you are pre-approved through Infiniti, take that pre-approval to the other financial place. Maybe they will change their mind when they see they could lose your business.

 

Or you could try going through their college grad program, if it applies to you. That's what I did, and I got a rate of 4.95% for 60 months. I'm 24. As it turns out, my credit score is over 700, so I could have gotten a good rate without the college grad program.

 

Ack my mother want's to go next week to check out the car... Closest Infiniti dealer is 30 miles away which is probably why... Found out why though why they wouldn't give me the loan in the mail the other day. Says, "Short term credit history"... I've been building my credit for over 3 years. Dang I would that would be good enough. Guess not... Oh well hopefully this Saturday comming up we'll go hit up the Dealer... (Geez I sound like a drug addict) All this to get the car I want, but well worth it...

 

yes. well worth it. you could pay more for most any other car in the price range and still get less.

 

Do you have a credit card? Use it a few times, and make payments on time, but don't pay it off in full.. make timely payments for 6 months to a year. Buy gas and groceries or something (don't use the I-need-to-build-my-credit excuse to buy something you can't afford). Pick a balance you're comfortable with (say a couple hundred dollars) and keep the card at about that balance. Just having a card with a zero balance or paying it off in full every month doesn't do much for your credit history. Of course, don't let the balance get out of hand, or "building" is not what you'll be doing to your credit rating... [img]/w3timages/icons/smile.gif[/img]

A general sign of your credit rating is to pay attention to the types of "pre-approved" credit card offers that flood your mailbox. Roughly in order of credit worthiness you'll see secured cards, regular cards with $100-1000 limits, gold cards with $5000 limits, platinum cards with higher limits, and then whatever the metal/mineral-of-the-month is.. diamond or titanium cards or whatever.

2003.5 G35 Sedan Desert Platinum/Graphite Premium/Sport/Aero/Nav/Winter

 

Let's see... Ok I got a financed for a cross trainer that cost 3,600 bucks and some change a while back... Does that count as a type of credit card ? If so I paid that off in 7 month's out of the 12 month's they financed me for w/o interest.

The first card I had was a Visa card which had a limit of 1,000 bucks which I canceled a while back after I paid it off and started using my Check Debit Card as a "Credit Card" since it takes the money. A while back I bought a PC for my little bro that was over 1700 at Best Buy so I got a Best Buy "credit card". It was no interest for 12 month's as well I think... I paid it off in 4 month's no interest. Then with the same card I put my G4 TI4600 Card which I bought for 300 bucks on as well... Paid that off in 2 month's no interest. Haven't used my Best Buy Card yet since I use my Debit Card now and have plent of cash in the bank...

About 6 or so month's ago I bought a leather sofa set for one of our living rooms. I also got financed for that... Total was 3900 bucks. Full Sofa, two love seat's, 1 personal seat... etc... I was financed for like no interest till 2003 but paid that off with in 4 month's (I paid in big payments of course). Also I just got done paying off my 61" Big Screen TV that I got financed for with no intrest till 2004 that ran me for about 4800 bucks. That was through a Circuit City card they mailed me. I paid that off last month... Only took 2 month's to come up with that 4800 bucks... (2400 and some change a month is what I came up with).

As you can see I like a lot of toy's... but gosh I thought that would of said something about my credit history being built up pretty good... Guess not... Other then that I don't have no other cards on hand. Just a exercise card, best buy card, circuit city card, furniture wherehouse card and my Wellsfargo Bank Master Debit Card (which I use just like a credit card, but it takes money right directly out of my account). Grrrrr I thought since I paid everything, card, business off as fast as I could it would of said something about me.... guess I still gotta put more things on credit lol thanks for that info.

I do got a Cell phone bill and a standard Satalight TV bill every month but all that I have on "automatically taken out" status where they deduct the money for those two bills right out of my Master Debit Card (checking account). Guess I'll go to best buy and get the dvd's I wanted on credit with my Best Buy card rather then paying it in cash... I don't know...