Purchasing a vehicle? I am 18 years old and hold 6 months of credit history.

I am 18 years old and hold 6 months of credit history. Will I get charged profoundly of interest on an $18,500 vehicle even though I plan to put $10,000 as a down payment.
F.Y.I. I enjoy no one to cosign for me.

What ever you do ask quetions, keep adjectives things you sign, ask about what is covered on repairs. Get it surrounded by writing. Even if not co signing a older human being can sit with you for support on such a serious investment. Full coverage insurance may be required and lofty at your age. But I admire you for coming on here to achieve answers. *mamatx

Some dealers may be wanting to offer you interest free financing only just to get the mart. Negotiate that with the end of getting it free, and without any price cost.

Otherwise you will not be a prime rate borrower and will pay a reasonable bit of interest. I would suggest going to a credit union and seeing what rate they can provide you. They will be a lot smaller amount pushier about the loan next the dealership will be. Also that way, if you carry an offer at the credit association for say 9% it give you room to negotiate with the dealership for read out 8%. Also don't get a loan residence longer then I would enunciate 36 months. The longer you spread it out the lower the payments will be but the more you will pay surrounded by the end. Be primed to battle next to the car dealership for the best price of the vehicle also. I would suggest taking a level head friend with you. And remember you can other say no the sale person. There is another motor waiting for you down the street. Good luck!
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