[Johnthegreat]

I was in a accident was cut off and hit a tree going 55 mph and my baby was totaled. If u want to see picks somebody can show me how to load the pic up using tapatalk that would be nice . since I had a v6 and now that's over with I was just going to upgrade to a ss no need to buy another v6. Question is I put down 5000 to get my v6 what kind of down payment ur thinking I'm looking at with a ss? I was thinking 10,000. Which is all I'm going to put down for the ss. And if anybody wants to share what they put down that would be cool.

[2001ragtop]

The amount you "put down" is just related to how much you want your payment to be. the more you put down, the less interest you will pay in the end.

You should use a monthly payment calculator like this one: http://www.bankrate.com/calculators/...alculator.aspx

And using the interest rate for your loan, and using the number of months of the loan, calculate the amount to put down which results in the monthly payment you can afford.

Edit: I have bought a 32,000 car before using only 500.00 down. Do what is best for you.

[DaBears]

Originally Posted by Johnthegreat

I was in a accident was cut off and hit a tree going 55 mph and my baby was totaled. If u want to see picks somebody can show me how to load the pic up using tapatalk that would be nice . since I had a v6 and now that's over with I was just going to upgrade to a ss no need to buy another v6. Question is I put down 5000 to get my v6 what kind of down payment ur thinking I'm looking at with a ss? I was thinking 10,000. Which is all I'm going to put down for the ss. And if anybody wants to share what they put down that would be cool.

Usually banks like to see a 20% down payment.

[Blue Menace]

Originally Posted by DaBears

Usually banks like to see a 20% down payment.

Really? Wow! I know that is a standard down on a house, but not a car.

[Supermaro585HP]

I could of got mine with no money down. It depends on your credit.. I put $20,000 down. I'm paying mine off next week. I do pretty good with my business so it helps. If your credit is ok you should be fine. GOOD LUCK!!! Sorry to here about your car man. At least now you can get the SS.

[upflying]

A substantial down payment also helps keep you from being upside down in the loan.
I put 1/3 down on the last new car I bought.
Down payment depends on you, your credit report your lender.

[Truck Norris]

It depends on how much $$$ your insurance gives you. I have USAA which value cars on the high side so it would be possible if your insurance values your V6. Make sure to give them all your receipts.

[Dtrimpi87]

Like others have said, down payment is pretty much personal preference. I put $0 down on mine.

Sent from the rocket in my pocket, my all powerful DROID BIONIC.

[DaBears]

Originally Posted by Blue Menace

Really? Wow! I know that is a standard down on a house, but not a car.

My brother is a loan officer, he says 20% pretty much makes a bank feel good on any kinds of loan, whether it be car, house, whatever.

[KXRM]

yea 20% is standard. it shows you at least have some investment in the vehicle so you will be less likely to walk away from the loan since you stand to lose your 20%. Me myself, I don't buy a car unless I can pay for it in full.

[Blue Menace]

Originally Posted by DaBears

My brother is a loan officer, he says 20% pretty much makes a bank feel good on any kinds of loan, whether it be car, house, whatever.

Thanks. Good to know.

[DaBears]

Originally Posted by KXRM

yea 20% is standard. it shows you at least have some investment in the vehicle so you will be less likely to walk away from the loan since you stand to lose your 20%. Me myself, I don't buy a car unless I can pay for it in full.

Wow, that would be awesome to be able to do. I know I cant do that. Unless im willing to settle for a 8000 dollar car.

[a_Username]

We paid $20000 down (on a 2ss) and our payment ended up being $312.

[KXRM]

Originally Posted by DaBears

Wow, that would be awesome to be able to do. I know I cant do that. Unless im willing to settle for a 8000 dollar car.

Settled on that all through my 20s. I just save money, that's all there was to it. Drove the same 1998 v6 mustang for 6 years that I got for $5575 in '02 and at 29 I bought my used '06 GT for $18K in '08. So lots of sacrifice to do it, but I don't regret it because now I can afford a $30k+ car with all cash + trade.