money down

[leatherneck]

Originally Posted by live2well

Mr Leatherneck,

It depends on your credit score. Since you a little more than 15% you should be good to go as long as your credit score isn't horribly low.

There are a few philosophies about car purchases. One is to put as little money down as possible so that if you drive off the lot and you total your car right away, you have very little invested in it. The other is to pay as much as you can so that you either have NO payments or very small payments. IMO one should buy the car out right and have no payment. It is not financially sound to carry a debt on a depreciating asset or liability. NO debt is best!! But we all do what we have to do to get what we want. Cheers

with the great new from my dealer to saying my car will be built the week of the 6th thru the 12th of aprik i was estatic--untiil we started ta;lking how much money was needed down--i was thinking 10--to---15% but my dealer said the banks are looking for 20%---he said that to be on the save side---i have now 8000 to put down thats approximately 20%--then he said 10 k would be better--lolol

[2SSONLY]

I've been shopping for financing. Found the best deal at credit unions. Traditional banks are almost twice as high in their percentage rate. Dlr told me best he has is in the 5's. No one has said squat about down payment but like Dragon, I have high credit score and they didn't flinch at what I'm putting down, in fact, they didn't even ask. Just the total I'm gonna finance.

Kudos to anyone paying cash!

[live2well]

Originally Posted by leatherneck

with the great new from my dealer to saying my car will be built the week of the 6th thru the 12th of aprik i was estatic--untiil we started ta;lking how much money was needed down--i was thinking 10--to---15% but my dealer said the banks are looking for 20%---he said that to be on the save side---i have now 8000 to put down thats approximately 20%--then he said 10 k would be better--lolol

The more the better

[DevilKnightFalcon]

I am putting $15,000 down on a total of like $35,000. I have a credit score over 720 so I am hoping to get an interest rate around 4-5%

[Vash]

Originally Posted by 2SSONLY

I've been shopping for financing. Found the best deal at credit unions. Traditional banks are almost twice as high in their percentage rate. Dlr told me best he has is in the 5's. No one has said squat about down payment but like Dragon, I have high credit score and they didn't flinch at what I'm putting down, in fact, they didn't even ask. Just the total I'm gonna finance.

Kudos to anyone paying cash!

Yea CU's if your credit is good, will finance 100% on new most times. More $$$ payments for them. Because most people have to have a JOB to join they don't have as many repos. Vs just walk in banks and the suckers, oops I mean the ladies and gentlemen that just walk into dealerships unprepared.

BTW You can go to the NCUA and look at the books. I checked my banks credit before I went . Turn the tables on them. They want to play with numbers then you make it like a video game where you win and rack up score.

[DevilKnightFalcon]

Originally Posted by Vash

Yea CU's if your credit is good, will finance 100% on new most times. More $$$ payments for them. Because most people have to have a JOB to join they don't have as many repos. Vs just walk in banks and the suckers, oops I mean the ladies and gentlemen that just walk into dealerships unprepared.

BTW You can go to the NCUA and look at the books. I checked my banks credit before I went . Turn the tables on them. They want to play with numbers then you make it like a video game where you win and rack up score.

Strangely the best deal I have found is at Bank of America. They are offering as low as 4.4% whereas the lowest offered at almost any of the credit unions is over 6%.