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Downpayment for car financing

MAS-logo-high-quality-with-transparencyOne of the most frequently asked questions at our car lot is how much down payment is needed to get into a car.

While some of our cars are available for a very low down payment, there are several reasons why you should consider saving up more cash for your down payment.

You can decrease the term of your financing when you bring in more downpayment.  That means you can pay off your vehicle sooner and/or make payments for a shorter term of time.

You can decrease your monthly or bi weekly payment.  Have a job that you can’t always predict your income that month?  Perhaps a job that gives a seasonal influx in income?  Save for your downpayment and you can reduce your payment amount to a more manageable budget for your lifestyle.

You have more options in vehicles.  When you have a larger down payment, it gives you more flexibility.  As our buy here pay here financing has a shorter maximum term than other car financing institutions, certain vehicles require more down payment for buy here pay here financing, so that the term and payment still fit in your budget.  This usually includes trucks, SUVs, coupes, and later model cars.

You are invested in the vehicle.  When you have invested your hard-earned savings in your down payment, it shows that you are dedicated to making your buy here pay here payments on time.  Who wants to fall behind on a car payment that they are already invested in?

Want to learn more about our vehicles and buy here pay here program?  Call a salesperson at Mark’s Auto Sales and learn how we have more options for every credit profile.  We’re open Monday – Saturday and available at 303-592-7725