My spouse and I just applied for an auto loan and got denied. We both have okay credit (647 and 725), make combined six figures. Why on earth were we denied? Is it the economy?
If we go to a dealer, will the dealer reject us too?
If we go to Lending Tree or another online auto loan place, will we also get rejected? Also, if we try another route, will all these applications create serious black marks on our credit score so that in a year from now when we try for a mortgage, we'll be rejected for that too?