Is There A Benefit To Put Money Down When You Buy A Vehicle?

There are benefits to putting a large down payment when financing it include: Lowers the overall amount financed saving on interest and finance charges. Decreases the loan to value which greatly increases your chances of being approved. Shows your commitment to the loan which suggests you’re less likely to default on the car loan. Lowers your overall monthly payment. You can finance for a shorter term and pay it off quicker. Less likely to be in a negative equity or upside down situation.