2006-10-25 15:26:32 · 9 answers · asked by gheff68 1 in Cars & Transportation ➔ Buying & Selling
My credit union will finance 100% of new & used cars
2006-10-25 15:44:31 · update #1
YES, unless you have a good trade-in. Also they don't give rebates with used cars, which are sometimes used as downs :(
2006-10-25 15:29:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Banks finance used cars based on their Blue Book value. Since there isnt the margin on a new car (or a book value), Banks finance more.
On a used car it is usually in your best interest to put tax, license and profit as a down payment to get the best interest rates.
Some of the answers here are a bit silly. There is NO standard for what a bank wants unless you have bad credit, a high miles or an older vehicle. Then, they still want a similar equity position before financing in the beginning and might shorten the terms.
2006-10-25 15:55:29 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It is to your advantage to put a down payment on a used car, because the principal is reduced. Most loan companies require you to pay a down payment of at least 10%. If the car is not worth the asking price you will be required to pay down the difference in asking price and loan value. Some used car dealers will let you buy a car with nothing down and weekly payments. Most of these charge a fortune for a mediocre car and if possible avoid them.
There are frequent sales where overstocked vehicles are sold for $99 down and low payments, but if you are not there when the door opens, he best will be gone. You have to be careful with these also, because when all the sale items are gone they will try to stick you with something you don't want.
2006-10-25 15:42:51 · answer #3 · answered by eferrell01 7 · 0⤊ 0⤋
in case you could purchase it out authentic with money then that would properly be better effective. they are going to probable grant you with a better effective cost that way too. i do not understand if i might want to get a rav 4 though. they're kinda overpriced. you need to look at a Toyota Camry. I extremely have one and that i love it. i purchased mine used and it develop into properly worth each and every penny. It has a number of room for a kinfolk with babies. Toyota and Honda are extremely strong automobiles, yet i have not heard some thing strong about the rav 4 (basically a million undesirable evaluation). look it up on the shoppers digest or JD skill and friends information superhighway website for comments. strong success
2016-10-16 06:29:03 · answer #4 · answered by Anonymous · 0⤊ 0⤋
they usually want you to put down at least 10% of it possible,but not all car lots will be like that, most will accept what ever you can afford down on one,there just glad to sell one these days,but they might as for some down on one,good luck i hope this help,s.
2006-10-25 15:35:08 · answer #5 · answered by dodge man 7 · 0⤊ 0⤋
yes u do unless u have all the money they wont for the car then u shoulndt haft to
2006-10-25 15:29:18 · answer #6 · answered by baldwin_county_so 1 · 0⤊ 0⤋
90% of the time yes.
2006-10-25 15:45:11 · answer #7 · answered by George K 6 · 0⤊ 0⤋
most lenders will want 1/3 down.
2006-10-25 15:30:11 · answer #8 · answered by La-z Ike 4 · 0⤊ 0⤋
yes-just not as much as for new car, thank God
2006-10-25 15:34:14 · answer #9 · answered by phyllis_neel 5 · 0⤊ 0⤋