As I have mentioned here before, I have very high credit card balances but everything is paid on time. At some time I need to pull my Beacon score to see how bad it is. On a new car purchase, assume a score too low to get the best rates. Will a bigger down payment overcome the low credit score? Obviously that reduces the lender risk. I was thinking of a $5000 downpayment on a $20,000 car.
You can automatically qualify for a lower interest rate when your down payment is at 25% of total financed amount at VW...