Make a Large Down Payment
Down payments are not required for vehicle financing – even if a borrower has bad credit. However, to acquire a lower rate on a bad credit auto loan, the lender may require a sizeable down payment. Typically down payments are 10 percent of the purchase price. Bad credit applicants may need a higher down payment, perhaps 20 – 30 percent of the purchase price.
THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. THIS IS IN NO WAY GIVING ANY LEGAL ADVICE OR REPRESENTATION. THE INFORMATION CONTAINED HEREIN WAS COMPILED FROM VARIOUS ARTICLES. FOR ANY LEGAL ADVICE OR REPRESENTATION SEEK YOUR OWN LEGAL COUNSEL.