Expert Advice for Car Down Payments

All Questions on Car Down Payments

How do I pay for a vehicle with cash and financing?
I'm a first-time car buyer. I want to know how to pay for a car if I'm financing through a credit union but making a down payment in cash? Do I give the down payment to the lender? How do I receive the funds for the rest of the car?
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Eric Schad
Aug 02, 2021
Who receives the down payment for a vehicle?
I'm putting $5,000 down on a $25,000 vehicle. I'm wondering who gets the check. Does my lender or the dealer receive the down payment?
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Scott Michonski Testing
Aug 02, 2021
What's a general guideline for financing a certified pre-owned vehicle?
I'm going to finance a certified pre-owned vehicle, but I'm not exactly sure what rate or term I should go with nor how much to put down. Are there any guidelines for financing a certified pre-owned vehicle?
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Eric Schad
Aug 02, 2021
Can you get car insurance without a down payment?
I don't have enough money for a down payment, but need car insurance. Are there any companies that offer car insurance without a down payment?
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Emily Maracle
Aug 11, 2021
Can a car dealership demand a larger down payment after I've already signed the paperwork for the loan?
Can the dealer change the loan terms after I already signed the loan? I financed a car through a dealer and signed the papers. Now they're threatening me with repossession if I don't make a larger down payment on the vehicle.
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Eric Schad
Jul 16, 2021
Do car dealerships want a big down payment on a vehicle?
I'm looking at a Honda Civic that costs $25,000. I have $12,500 for a down payment. When I told the salesman, he gave me a weird look and said that was probably too much to put down. I've heard from other people that a large down payment means that car dealers are more likely to give you a deal.
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Eric Schad
Jul 14, 2021
What's an acceptable down payment for a Lamborghini?
What would be a good amount for a down payment? I want to buy a Lamborghini, but I don't want to pay straight cash for it.
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Eric Schad
Jul 13, 2021
Is a 48-month car loan too long or too short?
Is a 48 or 60-month loan ok or should I go with a 36-month loan? I am looking over my car loan options. While I did qualify for a good interest rate, the payments at 36 and 48-months still seem a bit high.
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Johnny Puckett
Jul 07, 2021
How long should my car loan be?
Is it better to get a longer loan and save on the monthly car payment? While going over financing options I was given the choice between 48, 60, and 72 months. The payments are less the longer I go, but the total amount that I will pay for the car increases with the longer loan.
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Johnny Puckett
Jul 07, 2021
What is a good car payment that the average person can afford?
What can I expect for an average monthly car payment? I need to buy a car and am just now going over my financing options. I have a decent job making about $3k per month and decent credit so I’m not worried about qualifying for a car loan but I am worried the payments will be too high.
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Johnny Puckett
Jul 07, 2021
If I put a 50% down payment on a Toyota Camry, will it lower my monthly payments compared to financing the entire thing?
If I put 50% down, will my monthly payments be lower, or will they be the same as financing the entire amount? I want to put 50% on a Camry, but only if it will lower my monthly payments.
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Eric Schad
Jul 03, 2021
Should I finance a $9,000 car if I have $20,000 in savings to pay for it?
Should I pay cash for the car or should I finance all or a portion of the vehicle? I have $20,000 saved up to buy a car. After shopping around, I found the one car I like is only $9,000.
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Eric Schad
Jul 03, 2021
Is it worth it to make a very small down payment on a car loan, such as $500 or $1,000?
Is it worth it to pay a small down payment? I've heard that you should always make some sort of down payment on a car loan. However, I only have about $500 or $1,000 to put toward the down payment.
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Eric Schad
Jul 01, 2021
Should I finance all or some of a new car?
"Is it better to pay cash for a used car? I am planning on buying a used car and have negotiated a price. At $30k I can pay for most of the car out of pocket."
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Johnny Puckett
Jul 28, 2021
What can I expect when financing an expensive used car?
"Does this seem possible or should I wait until I have a large down payment? I can afford a $50k-$70k car if I can get a 5-year loan at around a 5%-interest rate. My income is around $150k per year and my credit is 770. Is dealer financing better or should I go to a bank or credit union?"
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Johnny Puckett
Jun 25, 2021
Should I buy a car outright with my total loss settlement money?
"Should I use the settlement money from my totaled car as a down payment for a new car or buy a used car outright? I recently got in a wreck in which my Honda was considered a total loss. The insurance gave me the full value of the car, which is more than enough to pick up a decent used car of the same value."
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Johnny Puckett
Jun 25, 2021
What is the least amount of money I can put down on a car loan?
"How much money will I need to put down on a car loan? I need to buy a new car but I do not have much savings that I can use as a down payment."
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Johnny Puckett
Jul 28, 2021

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