Hi Marv - If you have no criminal history (which I don't), can show stable residence history of 5 plus years, and have fair credit (approx 650 scores, with low utilization, no judgements, BK or collections), BUT you have no provable income (self employed and write everything off to the max to get close to zero income on tax returns) AND no installment loan history of any kind - is it possible to make up for these shortcomings by putting down giant down payments?
For example, if I want to buy an $75,000 luxury car and I can put a $50,000 down payment (please people, no drug dealer jokes) - will banks finance that kind of transaction? I would think that they would see they have a ton of security in that even if I default - they get to keep all that money I put down.
Or does the industry not work that way? I've never financed a car before, so forgive my ignorance.
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