2006-11-13 08:00:56 · 6 answers · asked by Tony Starks 3 in Cars & Transportation ➔ Buying & Selling
Depending on the dealer and your credit history, you may be able to get by with a small down payment, or they may require that you put 50% or more down. Most dealers do not have minimum that they will finance, but many, especially buy her pay here lots, do have a maximum.
The larger the down payment, the lower your monthly payments will be, and you may possible qualify for a better finance rate!
2006-11-13 08:09:52 · answer #1 · answered by fire4511 7 · 0⤊ 0⤋
Most minimum finance amounts are set by the banks, not the dealership, and they all have different criteria. Some will finance less for a shorter term, but it really varies from bank to bank. As far as down payment, that also can be dictated by the bank, but tax and tags down is a pretty good industry standard for someone with decent credit.
2006-11-13 08:11:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I don't know if you are talking about a small lot that does in house financing they will finance any amount but most lenders at a dealership will have a minimum of $4,000.00 they cannot cover the initial cost of securing the loan for you for less than that.
2006-11-13 08:13:27 · answer #3 · answered by Anonymous · 0⤊ 0⤋
well it all depends on what kind of car that you are looking at. I good down payment is at least 1 thousand dollars. Just to let you know i work at a car dealership. Courtesy lincoln mercury
www.mycourtesylm.com
2006-11-13 08:04:50 · answer #4 · answered by Kayla P 2 · 0⤊ 0⤋
they usually want half to a third down, you might find one that will do 10%
2006-11-13 08:03:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋
DON'T YOU THINK THAT WOULD BE UP TO THE DEALER??? DUH!!!
2006-11-13 08:03:56 · answer #6 · answered by Anonymous · 0⤊ 3⤋