How Big Should Down Payment Be on a Car? (EXPLAINED!)

➡ Best Auto Loans - https://www.thesimpledollar.com/loans/auto/best-auto-loans/?utm_source=youtube&utm_medium=video&utm_campaign=loans&utm_content=EHtJnxmZZf8

This video is about how big your down payment should be when you purchase a car, whether new or used. Of course, there is no single rule for how large your down payment should be, there are certain "guides" for what you should be putting down. For example, if you're purchasing a new car with an auto loan, you may consider a down payment of around 20%. That means if your car is $30,000, your down payment would be $6,000. If you're purchasing a used car, oftentimes you can get away with a down payment of around 10%. Using our same example, if you purchase a $30,000 used car, the down payment would then be around $3,000. Again, these are just rules of thumb for your down payment.
∎ RELATED CONTENT ∎
Best Auto Insurance Companies:
https://www.thesimpledollar.com/insurance/auto/best-car-insurance-companies/?utm_source=youtube&utm_medium=video&utm_campaign=loans&utm_content=EHtJnxmZZf8

What Are 0% APR Auto Loans?
https://www.thesimpledollar.com/loans/auto/0-apr-auto-loans/?utm_source=youtube&utm_medium=video&utm_campaign=loans&utm_content=EHtJnxmZZf8

How Big Should My Car Down Payment Be?
https://www.thesimpledollar.com/loans/auto/how-big-should-my-car-down-payment-be/?utm_source=youtube&utm_medium=video&utm_campaign=loans&utm_content=EHtJnxmZZf8

The Simple Dollar Guide to Auto Loans:
https://www.thesimpledollar.com/loans/auto/auto-loans-guide/?utm_source=youtube&utm_medium=video&utm_campaign=loans&utm_content=EHtJnxmZZf8

Is An Auto Loan Good Or Bad Debt?
https://www.thesimpledollar.com/loans/auto/is-an-auto-loan-good-or-bad-debt/?utm_source=youtube&utm_medium=video&utm_campaign=loans&utm_content=EHtJnxmZZf8
∎ CONNECT WITH US ∎
Website: https://www.thesimpledollar.com/?utm_source=youtube&utm_medium=video&utm_campaign=loans&utm_content=EHtJnxmZZf8
Facebook: https://www.facebook.com/TheSimpleDollar
Twitter: https://twitter.com/TheSimpleDollar
∎ TIME STAMPS ∎
0:00 - Intro
0:46 - Down Payment
1:19 - Table of Contents
1:48 - Purpose of Down Payment
4:02 - Calculate Down Payment
4:57 - Alternatives
5:58 - Closing Advice
∎ CREDITS ∎
Much of the footage in this video has been provided by Storyblocks and Getty Images.

Видео How Big Should Down Payment Be on a Car? (EXPLAINED!) канала CNET Money