I am planning on buying a used car in the next few weeks, but I don't have much money for a down payment. If I have prequalified for a loan amount equal to the price of the car do I have to make a down payment at a dealership?
2007-02-08 09:38:16 · 4 answers · asked by Stevie 4 in Cars & Transportation ➔ Buying & Selling
No but the less money you have to finance the less your payment will be.
2007-02-08 09:41:35 · answer #1 · answered by justme 6 · 0⤊ 0⤋
1
2016-09-26 21:30:36 · answer #2 · answered by ? 3 · 0⤊ 0⤋
if you have a check (from the bank loan) for the full amount of the car, then there should be no problems. A down payment at a dealership would be only if you financed the car through the dealership. Hope this helps.
2007-02-08 09:43:44 · answer #3 · answered by to be announced 2 · 0⤊ 0⤋
You don't have to put a down payment if you qualify for 100%. However, your payments will be higher if you don't give one.
A hint: Multiply $23.00 for every One Thousand dollars you are financing. This will give you the approximate amount of your montly payments.
2007-02-08 09:44:58 · answer #4 · answered by rob1963man 5 · 0⤊ 0⤋