answersLogoWhite

0


Best Answer

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.

User Avatar

Wiki User

โˆ™ 2009-02-27 04:31:23
This answer is:
User Avatar
Study guides

Loans

26 cards

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

โžก๏ธ
See all cards
2.33
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
3 Reviews

Add your answer:

Earn +20 pts
Q: What does the down payment on a used car pay for?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Can a car dealership repossess your car if they say you owe them more money for a down payment?

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.


Can a dealer reposses a car for not paying deferred down payment that is not in the contract?

This is not your car. The down payment enables you to have the privilege of a contract. So, pay up.


What stuff do you have to pay when you are going to get a new car at a dealership?

You will need to pay a down payment when you get a car at a new dealership.


How much is a car payment Chevy?

Depends on which Chevy you buy, what your pay for it, down payment or trade in, and how long you finance it for.


Are used car loans usually hard to pay off?

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.


If you have a car voluntarily repossessed can you get another car?

YES, usually you pay MORE down payment and/or higher interest rates.


What about your down payment money?

pay it


Can you still buy a car if you have on your credit report that you had a car reposessed?

Yes, IF you pay more down payment and higher interest rates.


If you cant afford to pay car payment and credit cards which is better to pay if you are going to pay on one?

Pay the car payment. So you can take your butt to work and pay the credit cards!


Can you pay double next month if you skip current payment for car insurance?

No, but you could pay double the payment when it is due and not pay the following months payment.


When you are at the dealership what do you have to pay when you want a new car Ford Mustang EcoBoost?

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.


How do you get a used car when unemployed?

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.

People also asked