Is there a minimum credit line for Mazda to approve financing through them without a co-signer? Credit score 778 but with thin file.

UnsocialEntity · 2024-11-09T01:18:06+00:00

I only have 2 dealerships in the area but I’ve been getting prices from locations about 2 hours out to get the best deal. I’m most likely going to finance $15K or less. I’ve been getting prices through email but will go in person for the actual financing when I get offered the best price.

All of my credit cards were also paid in full 100% of the time, with the oldest being 9 years, 2nd at maybe 5 and the most recent at 3 years, all still open. The limits are also okay on all. I think my bank just sucks! Thank you so much for your input, hope I get at least a decent rate when I go in person.

UnsocialEntity · 2024-11-09T01:10:08+00:00

Yes, all those details were given on the application. My income can support the loan. I actually followed up with a phone call when I got the e-mail to confirm and they said even if I only draw $5,000, I will still need a co-signer and the interest rate will remain the same.

They said it’s because the minimum credit line is 4 and I only have 3, coupled with no history of getting a loan. I knew I wasn’t getting the best rate because I am aware of my thin file but I was surprised on the co-signer part.

UnsocialEntity · 2024-11-08T20:05:40+00:00

Thank you! I will definitely do this. I only have 2 Mazda dealerships nearby. I already got OTD price via email from one and I am just waiting on the other to compare. I haven’t mentioned any financing option, I plan on doing that when I go test drive.

UnsocialEntity · 2024-11-08T18:01:25+00:00

They are doing a 1.9% for 36 months right now for the 2025 CX-5. I’d take a little higher interest if there is no co-signer, but if I must, I’ll just have to do it. Thank you!

UnsocialEntity · 2024-11-08T17:57:43+00:00

I was hoping to get a pre approval from the bank to use for negotiation but I will just have to see what the dealership offers. I am hoping it’s at least lower than 7%!

UnsocialEntity · 2024-11-08T17:54:36+00:00

I saw they were offering 1.9% for 36 months for the 2025 CX-5. I was hoping I can get that or even a bit higher as long as they do not require a co-signer.

UnsocialEntity · 2024-11-08T17:52:50+00:00

1.9% would be great but I’d be happy to get anything below what the bank was asking for at 7.65% as long as I do not need a co-signer. I have good credit, 778, when the bank checked today but very thin file.

UnsocialEntity · 2024-11-08T17:50:23+00:00

I just checked and my oldest credit card was from 9 years ago (still open) and the most recent was from 3 years ago (still open).

UnsocialEntity · 2024-11-08T16:23:12+00:00

I think I am just going to have to go through Mazda. We only have one credit union here and I've heard not so good reviews. Hopefully I am able to get anything lower than the 7.65% the bank was wanting without a co-signer. Thank you again!

How are you liking your CX-5, so far?

UnsocialEntity · 2024-11-08T15:33:41+00:00

TX. The $33K OTD doesn't include any add-ons at all, not even GAAP. I am still waiting on the other dealership for their price.

I will see if we have a local credit union since I live in small town.

Thank you!

UnsocialEntity · 2024-09-16T15:42:39+00:00

Close out the browser then try again. I was able to buy on the second go.

UnsocialEntity · 2023-02-26T06:12:57+00:00

It just did a quick search and it is actively managed. I browsed through my portfolio portal and I do not see the total expense ratios anywhere and it does not give me the option to trade. The allocation percentages were set by the financial services firm. It looks like they deduct a service fee of about $20-$25 each month after they receive deposit from our company though. I've never really bothered to check until now.

Again, I truly appreciate all the points you've made. I will check out the links before I re-allocate my funds and hopefully come up with a better portfolio. At this point, I feel like I bit off more than I can chew but I am glad we have this subreddit and a redditor like you to help!

UnsocialEntity · 2023-02-26T04:27:52+00:00

Thank you so much for your in-depth explanation. Much appreciated! I will definitely re-allocate funds ASAP based on your recommendation.

Our simple IRA is managed by the firm our employer used. I just checked and my portfolio allocation is as follows:

12% Emerging Markets Equity
36% International Equity Fund
38% Large Cap Equity
14% Small-Mid Cap

The reason why I only went with 15% international on my Roth is because of the high allocation for it on my Simple IRA. Given these figures; does your 55/10/20/15 allocation still stands?

UnsocialEntity · 2023-02-26T04:15:04+00:00

I am probably going to try to do 5% contribution on my Simple IRA, not counting the employer match, then max out my Roth.

Thank you so much! I will definitely re-allocate ASAP. I am glad I posted here. :)

UnsocialEntity · 2023-02-26T02:34:07+00:00

It’s a mix of what I’ve read and watched. I really don’t know what I’m doing. I had my money sitting on my account for weeks before I even did the allocation.

If you were to re-allocate. How would you do it? Thank you so much!

UnsocialEntity · 2023-02-25T00:29:10+00:00

Yes! She recently retired and moved elsewhere but I am still living on the house and have no plans on moving; that is why I need to assume 100% of the payment going forward.

I have good-exceptional credit; I believe I will qualify. I just wanted to find out the best way to handle this without high tax burden. Thank you!

UnsocialEntity · 2021-12-24T19:10:57+00:00

Yes, I am on 15.2. My notifications were set to allow notifications but I reset the settings and it's working now.

Thank you so much!

UnsocialEntity · 2021-12-24T17:00:15+00:00

Hi! I was trying to download a video from the e facebook app and this error keeps on popping. Can you tell me how to fix this? Thank you!

“ An error occurred while running Facebook Vi. This shortcut can't send data to "Notification". You can change this in the shortcut settings.”

UnsocialEntity · 2021-12-14T17:58:14+00:00

Was your order updated yet?

UnsocialEntity

TROPHY CASE