How much do I have to put down on a car?

Answer by  Dany (9)

it all depends on the type of car you are looking to buy. An old car would be cheaper then a new car and it would make the downpayment less. Minimum downpayment would be around 10 to 20% of the actual car value. so try looking for a cheaper car and its downpayment would be low for you

Answer by  Latin4 (11170)

This all depends if you have a trade-in and what the seller and bank require for a down payment. Another consideration is the original price of the car, least expensive cars require less. I would go to a bank first and find out how much you are able to borrow and then go to the dealer with this information.

Answer by  jay34 (250)

The dealer usually asks for 10 to 15 percent down.It really depends on your credit score. You could make a small down payment but interest rates will be sky high.

Answer by  garymarkle (599)

The amount of money you have to put down on a car will depend on the price of the vehicle, and your credit rating

Answer by  technogeek (6640)

The more you put down, the less your payments will be. If you only have a small down payment, your credit score will determine what a dealer will accept.

Answer by  ScooterMike (145)

This is typically dependent on several factors. The amount that you will qualify for may change considering your credit score, the "out the door" cost of the vehicle, and even the dealership you're dealing with. If you find a dealer that provides in house financing you may have better options.

Answer by  Molae06 (1467)

Each car dealership and bank has a different policy, but if you can only afford a small down payment then try and go to one of the dealerships that advertises that they can finance anyone. They really can't finance anyone, but they are more likely to accept you than one with stricter policies would.

Answer by  rookie105 (823)

Yes you can put a small down payment down on a car but the monthly payment will be much higher. Something to think about is finding a private dealer and see if the accept payments at the dealership its self

Answer by  mahavin (589)

If you have less down payment in your hand you need to be invest at least ten to twenty percent of the down payment as and when you need to buy a car of your own. If you pay a considerable amount your co signer would have a good credit in the car mode.