Average interest rate for first time car buyers, w/ co-sign?

Question

i'm 17 right now, turning 18 this august 23rd...go me!!! =D I was just wondering whats the average APR rate for a first time car buyer with co-signers involved, in my case, my parents? Status: Planning to get a brand new '09 eclipse @ about $23-25000...I'll be working with my mom soon @ her work, being paid $2000 or more....hopefully i can handle the payments...dont think it will be that bad...i mean about 380 a month is okay with me, but iono =/

Answer 1

The car payment isn't the only thing to consider.  You definitely want to get a quote from your insurance agent on that type of vehicle considering your age/gender/marial status situation coupled with the high value of the car being brand new.  Also, keep in mind that you have to believe your work status is going to stick for the next half a decade.  Car payments don't ever take a break, so that's something to take into serious consideration as well.

Answer 2

APR will be based on your parents credit. You should find out what insurance will cost you.

Answer 3

check with your bank...that being said interest rates will be high for you