I don’t mean to sound rude, but take a hint. If the finance companies want a HUGE down payment it’s because they think either you are a high risk or with your current bills, cannot afford the payments on the car with so little money down. Apparently Ford finance thinks you can only afford the payments if they were based on $3-4k down. That’s usually a big hint you would be living beyond your means. If you don’t have much money to put down on any new car, it’s a sign you can’t afford the vehicle. If you have to finance your life away for something, you simply can’t afford it.

All the above are correct. Get out of your credit hole so you can afford a mustang. I make far less than you but budget my money wisely. I saved for four years and was able to purchase (with my trade in) a brand new 07 mustang. Take a money management course, cut out stupid spending and save your pennies. You will need to fix your credit either way.

get out of one credit hole before jumping into another

You should ‘throw’ those 3-4k in paying off your medical bills first.

You need to face reality. Until you repair your credit, or pay cash, you will be driving Escorts…
Maybe you can swing a Focus…