down payment on car

Discussion in 'Credit Talk' started by tom65432, Jun 15, 2001.

  1. tom65432

    tom65432 Well-Known Member

    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.
  2. sam

    sam Well-Known Member

    You can automatically qualify for a lower interest rate when your down payment is at 25% of total financed amount at VW...
  3. tom65432

    tom65432 Well-Known Member

    Does anyone know how Toyota is on this issue?

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