, the dealer is the one who gets that money—so you’ll want to make sure your check is addressed to them. If you’re unsure exactly what to write on your check, the dealership can let you know what information should be included.
Since the dealership receives your down payment, buyers are often eligible for additional incentives—like discounts or bundled products—in exchange for putting a larger amount of money down on the car. Putting down more money upfront also translates to a lower calculated car loan payment and potentially lower interest rates.
is financed through your lender. Subsequently, the calculated car payments you make each month to your lender are transferred to the dealership directly.
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.