Quote:
Originally Posted by LIF83
Quote:
Originally Posted by flipnkraut
That's not true at all. Putting money down on a car in order to afford the payments means you can't afford the car. If you can afford the car then you can afford to not put anything down and also get a <3% rate (depending on what interest rates are at the time). You can make more investing than that interest rate so it makes no sense to put money down unless you couldn't afford the car to begin with. If you are smart you can also take advantage of the banks taking advantage of gullible people and get the longest term loan and pay it as if it were a 36 month loan. You'll actually end up paying off the car a month or two earlier and pay about the same in interest. And plus side is you'll never be upside down on the loan.
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I stated OP should of put a good amount down to get it approved... |
Might as well tell him to pay the whole thing in cash. If you can't get approved without anything down you can't afford the car.