Saving for a down payment is a critical prerequisite to vehicle ownership. How much should you put down, why is it important, and what are the perks? Our helpful finance professionals at our Villa Rica Chevy dealership near Douglasville and Draketown can go over flexible down payment options when Carrollton customers purchase a Chevrolet from our new inventory or a used car.
Perks and Value of a Down Payment
A down payment puts a dent in the overall cost of long term vehicle ownership. When Douglasville shoppers make a down payment, our the Liberty Chevrolet finance team serving Villa Rica and Newnan applies that payment directly to the price of the vehicle. The larger your down payment, the less you'll have to pay over time.
Making a down payment also gives Villa Rica customers leverage if they are financing with bad credit. Since the down payment reduces vehicle cost, there's less to finance.
How Big Should Your Down Payment Be?
How much money should you put down on your new Chevy or used car in Villa Rica? It all depends on if Newnan customers are buying new or used. Financial experts recommend putting 20 percent down for a used vehicle and 30 percent down for a new Chevrolet truck, car, or SUV.
A down payment amount also depends on the budget flexibility of Draketown shoppers, who should ask how much they can afford in the short term to save more money down the road.
Down Payment Options
There's the option to put down less than 20 to 30 percent, but more sizable down payments can also be made. The finance center at our Chevrolet dealership in Villa Rica near Carrollton accepts a variety of down payment options in lieu of cash.
Think of selling your car to our Villa Rica Chevy dealership to make a down payment on your next vehicle. Depending on your vehicle, its value can cover a small-to-large chunk of overall vehicle cost.
Apply for Financing Online Today
Have the financial professionals at Liberty Chevrolet discuss down payment options and show how more money down affects your monthly payment plan. Apply for financing online through our credit application after selecting a used car or new Chevrolet in Villa Rica to buy and finance.