[Fox2102]

I'm tryin to save up enough for a new mustang in the next year but i dont know how to determine my APR rate. Can someone fill me in on this and give me some tips on how to get a better APR?

[Fryrice]

Its really gonna come down to the lenders requirements and how much you can put down as well as your credit. But you can use an online calculator to get a ballpark idea.

If you use a dealerships lender you stand a better chance at being able to negotiate a better rate since they want to make a sale. But they will probably get you somewhere else to make up for it. So you gotta pay attention.

But I would check a credit union since they are a member owned entity and tend to have more relaxed prerequisites. They are easier to deal with since the are local branches and have more dedicated portfolios to the immediate community.

[mdvaldosta]

Most new car APR's usually come in around 5-7 % APR, but you could end up paying anywhere from 3.9% on up to over 10% depending on factors Fryrice suggested. Really gonna depend on what you get approved for. The main factor is credit rating, and the easiest way to improve that on the short term is to pay down credit cards 30-60 days prior to applying for credit. Get them down to under 10% utilization if you can. Definately under 70% if they're maxed out.

[JBIGBOOTSY]

If it's your first new car....Alot. A large down payment is the biggest thing that can bring sown the %.

[Fox2102]

I'm saving up over the next year so i'm hopin to have about 5k to 6k for the down payment. I may have my parents put it in their name. Maybe they can get a better deal than me. I plan to go to carmax since they seem to have the best prices