I posted a couple weeks ago regarding the purchase of new car.

I had intended to secure my own financing via a bank but despite my very good credit (upper 700s) banks don't seem to offer anything less than about 8% for their loans. I am a student right now, and can't work full time so my income is pretty low. This has been the case for the past year. By first quarter of next year I will be working full time, however. I pull in only about 1K a month after taxes, but I don't have any credit card debits or any real expenses each month. Does income negatively impact the APR one can get or is this a myth?

I can finance with the dealer, but as we all know this isn't exactly ideal for most people, me included. I will be putting 20% of the car's cost as my down payment (5K). I realize that some will say buying a new car isn't a wise thing to do, but I do not want to drive a used car after having many years of misery because of them. There are other reasons for my intent to buy new, but I'd just like to know what I'm realistically looking at APR wise.

if you are worried about the APR you should not buy a $20,000 car. you can buy a new kia or hyundai with 10 year 100,000 warranty for less than $8,000. not the nicest cars but they will get you through college.

My intent isn't to buy a new car strictly for it to be new. I want something I will keep and at least enjoy driving enough to make it worth my while to make payments for it. If I have to curse the car and resent it because it isn't/wasn't some I wanted in the first place, I'd just buy a "decent" used car and save myself the hassle.


I am set on buying the WRX, I'm just wondering what kind of APR I'm looking at before I walk into the dealer.