So I'm Not Able to buy a BRZ...
 

it seems no matter how much you earn, or how consistent you are in your earnings, no bank, credit union or any other lending party will give you a loan if you are self employed.


so I'll be looking in the used market. while I wish it had more space I think I would like to get a gen 1 Miata.

Is there anyone out there who's had experiences with them? what are common issues if there are any.


any info will be greatly appreciated.

I've owned my '90 Miata for a little over seven years. Most of the known issues will be taken care of by now. The 1990 and early '91 cars had a potential issue with the crank/pulley, but mine has been fine at 143k miles now. Mine has been extremely reliable, it has needed very little work, and what it did need, I fixed myself easily and cheaply. A first gen Miata is a great choice IMHO, I don't intend to ever sell mine, and may pick another one up in the not to distant future. $3-4k usually buys you a decent one.

that's not necessarily true - there's definitely a point where you make enough to make them feel comfortable giving you a loan. do you have enough in the bank to pay cash for the car?

If you put down enough cash as downpay, most banks will consider your loan apps and likely approve it.

I know quite a few people that are self employed that are able to get car loans, mortgages, etc easily. How long have you been self employed? Usually you need at least 6-12 months of proven steady income though.

Your accountant should be able to structure / prove your income to qualify for a loan - You DO have an accountant right?

I'm only 19 and self employed for about 2 years. I bought my frs with 1k down and 3% interest. I was surprised when I got the offer.

been self-employed since september 2011. I'm coming up to 2 years, I suppose I'll try again once I get my 2013 taxes taken care of just for the sake of consistency.

I'm self-employed and I bought a 2011 WRX and a 2013 BRZ... No issues whatsoever.

Also just bought a house! When I got the house I just had to show 2 yrs of tax records.

This^^ i have no credit and put enough down to get a 1.98% for 6 years... money talks bro...

2 years... but what is your credit score?

Frankly 2 years of tax returns for 1099 doesn't do much for you, considering credit history is usually 7 years out.

-alex

I don't know what you want to spend, but a used S2000 is like half the price of a FR-S, and twice as powerful as a miata.

The ap1 s2000 is the most "PURE" car I have ever owned. just my $0.02

I wish you the best of look looking for a loan. Building credit can be tricky.

My credit score is in the 620's not super good but not super bad either.