It is applied directly against the purchase price of the used car. The more you down payment, the less owed and the lower your monthly payments will be.
A dealership can only repossess your car if you do not pay in accordance with the sale agreement. If you did not pay the agreed down payment, the car may be repossessed.
This is not your car. The down payment enables you to have the privilege of a contract. So, pay up.
You will need to pay a down payment when you get a car at a new dealership.
It depends on how much the car costs, your down payment, and how much you are making. If you have a good plan to pay it off, it should not be too difficult.
Depends on which Chevy you buy, what your pay for it, down payment or trade in, and how long you finance it for.
YES, usually you pay MORE down payment and/or higher interest rates.
Yes, IF you pay more down payment and higher interest rates.
Literal Answer: Ask the loaner what percent of the loan amount is required. The loaner decided what percentage you must pay as a down payment. If your question is asking "How do I compute the amount I must pay as a down payment on a loan?", then do the following: Sample problem: You ask a banker to loan you 5,000$ for a car. The banker agrees to give you a loan if you can pay a 20% down payment to the bank. To compute how much $ you will need to pay as a down payment, do the following: 1. Convert 20% into decimal form: 20 / 100 = .2 2. Multiple the loan amount by 20%: 5000$ * .2 = 1000$ You will need to pay a down payment of 1,000$ to the bank and sign some documents before the banker will issue you a loan. The bank will then pay 5000$ to the car seller on your behalf or give you a check that is payable to the car seller so that you can exchange the check for the car & keys to the car. You will owe the bank 4,000$ & most likely be required to make monthly payments to the bank until your debt is paid.
When you buy a new car you will either pay in cash the full amount or get credit. If you get credit, you will only need to pay a down payment.
Pay the car payment. So you can take your butt to work and pay the credit cards!
It does not matter whether you are employed or unemployed as long as you can pay your payment you should be able to get a used car. First Find the used car you like then work with them to get finance. Do not forget the your car will be a collateral until you pay off the loan.
No, but you could pay double the payment when it is due and not pay the following months payment.