My First Car Cost Me $40,000 – Upside Down Car Loan

I finally obtained my driver’s license in summer 2018 (22 years old) and I had $1,000 saved up to put a down payment on my first car. So I browsed around on CarGurus.com to figure out what car I wanted. The Mazda A3 and A6 (2010-2012) appealed to me and was in my price range.  

I contacted every dealer in my area that had a 2010-2012 model.  All the dealerships ended up rejecting me for financing.  Due to my credit score/history being to low for a $1,000 downpayment.  I would have to put down around $2,500, which I was not comfortable with at the time. 

Off To the Bad Credit Dealership! 

I wanted to get a car so bad I ended going to one of those bad credit car dealers.… Read More