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What is a good down payment on a car?

Best Answers

While Jimmie’s question is a good one, there is no one-size-fits-all answer. Each situation is unique, and your ideal down payment on a car might be completely different than someone else’s. read more

Conventional wisdom has long held that 20 percent is the magic down payment number when you're buying a new car. But the vast majority of people are making far smaller down payments. An Edmunds analysis of new- and used-car purchases in 2017 showed that the average car down payment was about 12 percent. read more

Two other common ways to bolster the down payment are with a trade-in vehicle or with a cash rebate on the vehicle's purchase. If a dealer takes a vehicle on trade, the value that the vehicle's owner and the dealer agree upon is deducted directly from the purchase price of the vehicle. read more