Does anyone have any advice on purchasing a car? I know that i want the 2008 Coupe Honda Accord. It retails at about $31,000 for the options that I would like. My situation: I just paid off all (2) of my credit cards down to a $0 balance and have 1 collection totaling $414 on my credit that I will pay this week. I checked my credit and I don't have such a good score. Per TrueCredit.com my scores are; Experian 546, TransUnion 614, and Equifax 613. These scores do not reflect my $0 balance Visa credit card, as I just paid it off yesterday, $895 worth. I have 4 different student loans on my credit that are all current. I checked my credit a couple months ago and my score was 665 but I see these loans have severly hurt my score ( credit report states too many new accounts). Otherwise I have no debt other than my house payment of $730 and current vehicle payment of $397. I have a $6000 balance on my current vehicle (2000 jeep cherokee) and plan on paying that off before I purchasing this new vehicle (around December 08) and possibly trading it in for about $1500 in addition to $1500 cash.
My Questions:
1. How strenuous are dealerships when i have student loans (4, that are all current and opened up jan. of 2008) and my current score being what it is? Are student loans frowned upon by dealerships if they are new?
2. Does anyone know if its possible for me to get an APR of 7% or less? If needing to know, I gross $46k.
3. Is there anything that I haven't covered that I need to know?