Quote:
Originally Posted by 2010SSRS
and it's those same people who got us into the credit mess we're in! both the folks with no cash to put down buying stuff they can't afford and the lenders giving them the loan.
if you can't come up with 20% cash down, YOU CAN'T AFFORD IT!
i still don't think it's as common as ya'll think.
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Seriously, enough of your
. I'm not putting 20% down, and I doubt many are either. In fact, I'm going to be upside down on my loan. I'm trading a car in, that I owe more than it's worth. Why? Because prices have deflated so quickly in the last 2 years. My car needs MORE work on it than it's worth. It's an easy decision for me.
Don't go spouting stuff on the internet that you know nothing about. Not putting 20% down on a car has nothing to do with your ability to repay.
Edit: Well, I am putting 5K down to offset /some/ of the negative equity in my old car... but it's not 20% down on the base car.