|5 REASONS TO MAKE A DOWN PAYMENT WITH AN AUTO LOAN|
|Posted on: Jan. 15, 2017 in Car Loans, Credit, Credit Score|
Depending on how good your credit is, you may qualify for a zero-down auto loan. However, if your credit is less than perfect, you will most likely need to put something down. Of course, exactly how much will vary based on the price of the car, how good or bad your credit is, and other factors as determined by the lender. You may feel like a down payment makes it harder to buy a car, and while that may be true, there are also some ways a down payment can work in your favor.
Down payments require a little bit of ingenuity to come up with, but in the long run they will end up saving you money. The more money you can pull together to put down up front, the more you’ll save. And remember, making those monthly car payments on time and eventually paying off the loan will help you raise your credit score over time. It’s a win-win!
If you need auto financing but your credit is keeping you from getting approved, CreditYes can help! We can match you with a dealership in your area that will be with you every step of the way. Our service is fast and free. Fill out our secure online application and get behind the wheel of your next car today!