Is 5k down on a new car a good idea?

Answer 1

sure. the more you put the down, the less you'll have to pay off in monthly installments (with interest tacked on)

Answer 2

How much is the car total. What will your payments be. What is the apr on the rest of the loan and how long is it financed for. The more you can put down the better in my own opinion. If you can put 5k down comfortably then that is just less you have to pay over the years.

Another good idea is to make extra payments to pay off your loan early that way you will get some money back in the interest you have paid. Best way to do this is with your tax return. If you can pay off your car a year or two early you will get back a good bit of money and you can use that for your next big purchase.

Answer 3

Always put down as much as possible if you are paying normal finance charges. If the car carries factory sub-vented rates like 0%-2.9% it's best to leave the money in the bank and put nothing down.

There is a lot more to it though, the price of the car, rebates or low finance, or rebates and low finance. You'll have to calculate which is the best way to go based on the current mfg offerings. If you listed every possible incentive option for the car, i could figure it out for you, but based on the information provided, it's impossible.

Answer 4

It's a good deal specially for a big car like a range rover
most car's weigh about 4 and a half or 4 but your saying 4k and if it's going to be a big car like 7 seat er that's a rip of.
but if its for a 5 seat er that a total waste of money

Answer 5

If you have five thousand to spend on a car, the best thing to do is buy one that costs five thousand or less. Buying used cars makes financial sense.