Question: How Much Should You Put Down On A 12000 Car?

How much should you put down on a $12000 car?

The vehicle’s price determines how much cash you should put down.Vehicle Price15% Down25% Down$8,000$1,200$2,000$10,000$1,500$2,500$12,000$1,800$3,000$14,000$2,100$3,5009 more rows.

What is the monthly payment on a 12000 car?

Calculate the monthly payment of a 12,000 dollar auto loan….Car loan data for a $12,000 loan.$12,000 car loan for 3 yearsInterest RatePayment3.5%$351.623.75%$352.954%$354.2922 more rows

How much do you have to put down on a 10000 car?

In most cases, for every $1,000 of down payment you apply, you can expect your monthly payment to drop by about $25 to $30, depending on the interest rate. Thus, if you’re looking at a car that costs $10,000 and you make a down payment of $2,000 on a three-year loan at seven percent, your payment will be $247.50.

What is a good amount of money to put down on a car?

A good rule of thumb for a down payment on a car loan is 20 percent of the purchase price. A down payment of 20 percent or more is a good way to avoid being “upside-down” on your car loan (owing more on the car than it’s worth).

Do car salesmen prefer cash or finance?

Saving enough money to pay for a new car with cash is certainly more difficult than getting a loan, so people assume they should be rewarded for this achievement. … Dealers prefer buyers who finance because they can make a profit on the loan – therefore, you should never tell them you’re paying cash.

How much can you typically negotiate on a used car?

If you’ve discovered that the used TMV for that car is actually $12,000 (dealer retail), you can start by offering a bit under TMV: say, $11,700. Don’t worry if the salesman acts insulted; it’s just part of the negotiation process. Starting lower leaves you some wiggle room to negotiate.