I'm 22. I started establishing credit at the age of 18 by having my name on student loans and ONE credit card.
I put down $8k and received a 60 month loan with an APR of 3.9%. The car was purchased in Kansas, but I live in California. The bank said they don't issue loans for CA residents... their minds changed pretty quickly when they heard about my down payment and impressive credit score.
Don't pay MSRP. That's a rip off. Do your research to see how much the car costs, the dealer incentives and holding fees. My car MSRP was about $19,500 (6sp manual SX w/ all options, other than leather package) and I ended up paying $18,400.
FYI: They raised the invoice price of the Forte Koup an extra $300 at the beginning of the year. If the car is hot and selling, they will continue to raise the price - so make sure your early estimates are flexible and you have breathing room to make higher payments with price fluctuation.
Do your research.
I almost paid $18,184 for the exact car I wanted (6sp manual SX w/ only the sunroof as an option), but I sat on the price offer for a couple of weeks and ended up watching the car literally drive off the lot as I pulled in to purchase it. If I'd put down a deposit, I would have saved myself a few hundred dollars and a few hundred miles since the one I ended up buying was located in Iowa.
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