I can afford the monthly payments, even at the higher APRs. It's usually around half of one paycheck, and I get paid around twice a month. My credit score is what most people consider "Good" (It's in the 700-750 range), and I have a mostly spotless payment history on my other forms of credit (2 financed things and a large limit credit card). I'm not sure I can do 3 years within my budget, but I may re-tool my math a bit and see if I can pay off a 5-year loan inside of 4 years. I'm hoping to do a down payment of around $3500-$4000 once I'm ready to pull the trigger. Should I go higher?Sounds like that rate was for your co-signer's credit score and ability to pay, not your's. You know?
You never said what your score is but you can't expect a good rate with no/bad credit from any bank/lender. If you don't want to use a co-signer then I'm thinking you need a big down payment to help get a better rate and offset that rate. I'm wondering if you can afford that truck anyway?? Just something to seriously consider.
A very wise woman one told me, if you can't afford a car on a 3 year loan you can't afford the car, period. That same wise woman also told me that banks will loan you a lot more money than you can afford to pay back.