Hey all!
Here in the next few months, I am wanting to purchase a vehicle that's going to be around $26,000. (2015 Ford Mustang, to be precise). I'm wondering if I am going to be able to get a really good APR since I am a first time buyer and I've only had credit for about 7 months now.
Here are some stats about me:
19 years old
$19,600 annual income
May 2014 - First credit card, BoA Cash Rewards - $700 limit
Dec 2014 - Got a hard pull credit limit increase on my BoA card to $2,700, got approved for the Discover It ($1,000), and got approved for an American Express PRG.
I am looking to put about $5,000 down at 72 months, resulting in a finance price around $21-22k.
How should I go about getting a good APR before I step foot in the dealership? Any good companies that would work for me in my situation?
I was thinking about having my mother co-sign for me (her last auto loan was 2012 at 5.09% on my current car with no missed payments, but she has two collections on her credit report that she was unaware of and her score is around 701, so I am not sure if collections affect your APR rate).
