Purchase new car 2014 - 426$ month payment, ok or not?

Ok, i just got my new crd honda crv awd 2014

i'm no credit good, and my brother co-sign for me
8 % interest, that hight,

and monthly i make payment 426 dollar for 72 months

how is that, ok, good, no good,

i never have credit before,

426 months

how is it

If you want to be rich someday, don't buy new cars.

$426x72=30,672 + insurance for a car that might be worth $5000 when you finish paying for it.

Really bad idea. 8% is too high and 6 years is too long.

http://www.daveramsey.com/article/drive-free/

Not. New car for one thing; 1st owner has to pay the hidden cost of depreciation, often 10% of the vehicle's cost.

2-3year old car often has the depreciation paid off.

so look for used in excel condition, mi <30k. That'd prob be under FACTORY [not 3rd party] warranty. Usually you can extend the warranty timewise & coverage wise.

it's almost always best to get the bumper to bumper level warranty, not lower level drivetrain/powertrain w/ many exclusions.

save more $1000s buying the above type car from private seller.

talk to Honda dealer finance managers abt warranty details; 2nd opinion at least. Try to get copy of current warranty.

What is "426$?" In the USA the dollar sign goes before the numbers. Based on your writing this was a mistake. A big costly mistake. This is $5,000 a year just on the car payment alone. You seem not old enough to drive.

No one can tell you that. Its whatever its worth to you now, since you and your brother apparently already signed the dotted line.

We don't know what the vehicle cost and what other things were factored into the deal, downpayment, etc. Nor your financial situation and ability to pay the monthly note. Your interest rate is high at 8%. Meaning your brother's credit ain't the best either.

I bought a honda 2 yrs ago. Fully loaded v6 honda accord 4door. 421/mo @1.9%. 8yr/120k mile warranty, car care, GAP, and all services paid for up to 3ys/30kmiles. Maybe that will give you an idea of how good a deal you got. Don't go into dealerships looking thirsty or desperate. They see you coming a mile away.

So I hope you really love your car, and be making double payments, and try to shop around for a refinance to a lower rate if you can in about 9 months.