Getting a new vehicle is an exciting time, especially if you have had your eye on a particular Nissan model for some time now. But, before you can take home the vehicle of your dreams, you might be wondering how financing works and if you need to put down a down payment on the Nissan. At Grainger Nissan of Savannah near Pooler, we are here to guide you through the financing process.
How Much Should You Put Down on Your Car?
The amount of money you put down for a down payment depends on many factors, but it's usually a percentage of the car's purchasing price. Many drivers tend to put down around 20% or more for new vehicles, and for used cars, trucks, or SUVs, drivers tend to put down around 10% or more. Say you are looking at getting a $20,000 used vehicle, you would aim to put down $2,000.
However, in some situations, drivers don't need to put anything down. Instead, they proceed with the usual financing process and monthly payments after putting zero dollars down.
What Factors Play Into the Down Payment?
Whether you want to put 10%, 20%, and so on down, or are looking to avoid a down payment, our finance center can help. Some of the traditional factors that go into it are your credit score, debt to income ratio, and your payment history. Other situational factors are if you are leasing or buying and if you are trading in or selling your vehicle to our dealership.
Finance Your Nissan at Grainger Nissan of Savannah
Snag the new or used Nissan of your dreams at Grainger Nissan of Savannah near Richmond Hill. With our vast inventory and resourceful finance center, bringing home a new vehicle is a breeze. To learn more about down payments and financing, visit our finance center today!
Categories:
Finance