Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Besides buying the car outright, what is the most down payment have you put on a car?

Do you go by percentage of purchase price or whatever you can come up with as a down payment?

 
keisha613

Asked by keisha613 at 2:32 PM on May. 7, 2011 in Money & Work

Level 26 (26,906 Credits)
This question is closed.
Answers (11)
  • We put $7000 down on DHs car, and ended up financing $4000.
    KairisMama

    Answer by KairisMama at 12:16 PM on May. 8, 2011

  • I typically cash for the whole thing. The one time I didn't, I put $15,000 down on a $25,000 car; I couldn't afford the whole thing at the time and I wanted to finance as little as possible for as little time as possible.
    Anonymous

    Answer by Anonymous at 5:39 PM on May. 7, 2011

  • usually based on price credit score company policy promotions or any combination there of... so it kind of depends on where you go. Is it a no credit check place? Dealership? Used car lot with financing? It just really varies...
    But_Mommie

    Answer by But_Mommie at 2:34 PM on May. 7, 2011

  • We were approved with around $1200 down, but we put down $3000 with the last car. I like to pay the cars off asap.
    gemgem

    Answer by gemgem at 2:37 PM on May. 7, 2011

  • We put $5000 down on a Honda last fall. Interest rate thru bank is 6.5%--not great, so we really wanted to finance as little as possible and save a few bucks in the long run...
    GoodyBrook

    Answer by GoodyBrook at 2:52 PM on May. 7, 2011

  • we put 1000 down on our car. we just put down what the dealership wanted at the time.
    zoejains_momma

    Answer by zoejains_momma at 2:37 PM on May. 7, 2011

  • We put down $1000 and traded in our beater for $2500. DH is a car salesman so we put down what he knew we needed in order to get financed for the remaining amount without any hassles and still have a decent monthly payment.
    bdflykisses

    Answer by bdflykisses at 2:39 PM on May. 7, 2011

  • I just bought a new car this week & we put 0 down. He showed us that a $500 down pmt would have lowered our payments by like $5 a month. I'd rather keep the $500 in my pocket. In the past, the most I've put down is whatever they've given me for my trade- about $3500.
    EgoTryptophan

    Answer by EgoTryptophan at 2:40 PM on May. 7, 2011

  • 5k is a great down pmt. Make sure you check the rates on auto loans at whatever credit union you're eligible for. Odds are, they can either meet, or beat the dealer financing rate. I've never put a down payment (beyond trade-in) when financing. The last two cars I've gotten have been under 4k so I paid cash.
    pampire

    Answer by pampire at 8:17 PM on May. 7, 2011

  • The last vehicle we purchased we put 0 down, it's financed through DH's employee credit union so it's a good interest rate and we just pay an extra $200 on it a month. The most we've put down is $2k.
    miss_lisa

    Answer by miss_lisa at 10:32 PM on May. 7, 2011

close Join now to connect to
other members!
Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN