What's a good down payment on a $4900 car with 152,000 miles on it?

Asked by Jun 21, 2014 at 02:47 PM

Question type: Shopping & Pricing

2 Answers

280

Usually its best to put a down payment of at least 10% so with that being said it would be $490.00

765

Depends on your credit and how the vehicle books - the bank looks at the LTV - Loan to Value - if you think it is a good deal but they see it only books for 4k, they won't want you to start off being upside down... If your credit is decent, they can finance 100% of the loan if it is OK at the LTV... If your credit isn't too good, they will probably look for 20% down... Also will tie into your debt to income ratio... If they think you can only afford a payment that would translate to a 3k loan, they will tell you they want the 1,900 down...

Your Answer

Add photo

Related Questions

Get More Money for Your Car
Be seen by 20 million shoppers. Create Your Free Listing

Shortcuts

Search Shopping & Pricing Questions

Shopping & Pricing Experts

#1 Tom Demyan
Tom Demyan
Reputation 14,250
#2 FordNut
FordNut
Reputation 6,030
#3 COMETGUY61
COMETGUY61
Reputation 4,830
View All