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In general, you should strive to make a down payment of at least 20% of a new car’s purchase price. For used cars, try for at least 10% down.
How much should you put down on a car? A down payment between 10 to 20 percent of the vehicle price is the general recommendation. But if you can afford a larger down payment, you can...
The 20/4/10 rule says you should put down at least 20%, and that you should choose an auto loan with a term of four years or less. Also, your total transportation costs (car payment, insurance, gas, etc.) shouldn’t eat more than 10% of your monthly income.
Learn how much down payment for a car you'll need, and discover how your initial down payment and its amount affect your overall vehicle financing.
To get the best rate, it’s recommended to put at least 20% down for a new car and 10% down for a used car. There is no set formula, however: The average down payment on a new car in early...
In general, you should put down as much as you can without depleting your savings account. Getting a car with zero money down is possible, but loans and leases typically require down payments. With more money down, your monthly payment is lower, and you’re closer to paying off the loan.
Exact down payment amounts will vary according to your circumstances, but on average, 20% down is standard. We recommend using this rate as your minimum threshold when deciding the right...