Bad Credit and want a New Car?

(More of an educated guess Question) Long story short, I want the 2015 Ford Fusion. I have ZERO credit -just applied for a card- but i'm a college student and want a new car to get to work and school since my mom can't share her car anymore. The car will be under her name, but we found out her credit was "poor". Now lets say i had to pay 300 a month for the car or 500… An educated guess how much percentage interest extra would i have to pay a month? On top of the 300-500? And would i have to pay that much? I know this is a hard Q to answer since it all depends on the cost of car, her credit, and what not… But any good guesses out there? The car is 18,965.00 -3,000 since my dad works for UP… And -3,500 Down… -500 Student discount so in all 11,965.00 (round so) + how much in interest? Anyone?

Added (1). I'm new at this, and know that new car with bad credit isn't good, just wondering. We all pay in cash and my mom only has that one bad thing on her credit, and it the only thing… I make 11$ and hour and work full time.

There's no way to guess this. Rates will vary depending on the primary signer's credit, and no one here works for Ford Financial.

The people to ask all work at Ford. Ask them.

Normally, I'd say that this is a really bad idea, and that a used car would make more sense, but IF you can get all those discounts, then it might work out.

But, what's your plan to make the payments, month in and month out, and have you bothered to get any insurance quotes for that car? Understand that there's no way that any financed car will not require full insurance coverage, including collision, and, at your age, that won't be cheap. Don't forget sales tax, too.

That you WANT a new can means nothing. What you can AFFORD is all that matters.

Sorry dipstick, but not only can't you buy a new car, even in your mothers name on her credit, but you don't deserve one. Learn to control your wants and keep your needs simple and you'll have a much happier life. An intelligent college student would buy a low-miles 10 year old Toyota from a retired person and wait a few years until they have good enough credit and some money in the bank before they remotely consider buying a new vehicle.

You left out one detail - how much you earn. Unless you're working full time, earning more than minimum wage - you won't be borrowing money from a bank. A lender will not approve you if the cost of owning a car is more than about 30% of your income.

Pay cash or do not buy. Financing something that goes down in value is a bad move. Save up, pay cash or do not buy. Don't do what broke, poor, debt-ridden people do. Do the opposite.

You can't afford it. With your credit the interest is going to be crippling. I see repo men in your future and still worse credit.