One of the most frequently asked questions at our Denver car lot is how much down payment is needed to get into a car.
While some of our cars are available for $400 or $500 down, there are several reasons why you should consider saving up more down payment.
You can decrease the term of your loan when you bring in more downpayment. That means the car is yours sooner and you can 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 more down payment, it gives you more flexibility. As our buy here pay here loans have a maximum term of 40 months, certain vehicles require more down payment for a buy here pay here loan, 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 make your buy here pay here loan 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