can u used a car rebate as a down payment on a new car
2007-09-04 06:34:55 · 5 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
Yes, but if that's your only down payment, you are going to be upside down as soon as the car is driven off the lot. Rebates are one reason certain cars (usually domestics) "seem" to depreciate so much in their first year, since depreciation is calculated based on MSRP, and cars with rebates don't sell for anywhere near sticker price.
Using the rebate as a down payment may help you get financing, but in reality it's llike buying a car with no down payment, which is generally not a good idea.
2007-09-04 09:01:12 · answer #1 · answered by nevergonnaletyoudown 4 · 0⤊ 1⤋
no, they give you that money after the sale is completed, or just take it off your sale price. You need to have the money yourself. And if you cant scrounge up 10% of the selling price, I would STRONGLY recommend against getting a brand new car.
2007-09-04 13:41:44 · answer #2 · answered by sami_sam 4 · 0⤊ 2⤋
Absolutely... it happens all the time. In fact, most people do it that way.
2007-09-04 13:43:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
it can be applied as money down.
2007-09-04 13:46:13 · answer #4 · answered by jay 7 · 0⤊ 0⤋
yes you can
2007-09-04 14:09:14 · answer #5 · answered by samy 1 · 0⤊ 0⤋