How Much Should I Put Down When Financing a Car?

If you're thinking of financing a car and don't know how much you should put down, watch this video.

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[jonathandowdell]

He should say also you can only make these demands if you have all the cash or good credit

[cartermitchell]

Absolutely not one dime.... it's against the law to even be asked for a down payment..but they ask because they know you don't know it's against the law..

[lionessrising]

I bought my Lexus with no money down at 0%. I had the money to buy cash, but I decided not to give up my cash and instead just pay the monthly payments over three years.

[damianbiondo]

Man, you are doing such a great public service. Keep up the good work. Next time I'm in the market for a vehicle, I will hit you up.

[Bonsai-Miata]

You should put down 0% down and pay cash. Even if you have cash never finance. If the market drops it’s nice to know you’re debt free and no stress.

[malyvang]

U could also ask the dealership if they do interest free auto loans and if they say no then do ur research if they’re lying or not. And there’s a website that can provide which car models u can get without interest fees.

[jamesdavid]

just get your credit score up to700 and not only do you not need money down but your APR will be under 4% in any state.

[rarestparrot]

Awesome man, was wondering if I should put down 10k or not, now that I know I’m probably gonna have 10-13 percent interest (first time buyer/ no credit score) I think it’s best I put down the 10k

[dirtyaznstyle]

Really depends on your cash flow, taking a loan just breaks up the price into installments. Use the whole 48 installments or pay it in 5, it just frees up cash to be used elsewhere. But if you wipe your a$$ with $100 bills it really don’t matter what the loan terms are. 5 bills 3x a day and you’re only spending half a million on tp a year!

[CK-]

What people seem to not understand is that the more you put down, the less you pay in interest over the life of the loan, which makes the financed vehicle cheaper.

[lotus]

I got a new car right before Covid hit at 2.75 APR. Not looking at another new car for a while until rates start coming down.

[lynnb]

Thank you for helping the average consumer to buy a car with more knowledge. ❤❤

[damien]

Or go to your credit union and pay no money down and obtain the best rates 😊

[latoybraxton]

Thank you brother for sharing your knowledge ❤️

[sonsofliberty]

Never put money down in most states. If you want to and owe money on your current ride, put the money on your current loan. This way you wont pay sales tax onthat amount

[Daywalkerr]

Ideally you want to pay as little interest as possible but how much interest is too much to pay say for. 15k car? Like what % of the price of the car is you got scammed territory ?

[GeneralZeroOfficial]

When a random YouTuber provides more responsible advice than Dave Ramsey.

[jeremyv]

I’m paying 2.99 interest I get 4.35% in high yield saving. I rather finance always. And when decent rates return to near zero financing almost is a no brainer.

[vincentp]

And a good paying steady career helps 👍

[lunallena]

The interest rates to finance are too high to not pay cash.