Carscoops

JULY 22, 2024

New-vehicle buyers are taking out loans averaging almost 70 months. Down payments for new vehicles have slightly decreased. A new study has revealed that many new vehicle buyers in the U.S. The bad news for new car buyers doesn’t stop here. Things aren’t much better for used car buyers.

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Shawn Ryder

JANUARY 17, 2025

.” This situation can transpire when you owe more on your car loan than your vehicle is worth, which often becomes a concern for car owners and potential buyers alike. These losses can sometimes outpace the rate at which car owners pay down their loan balances. Should You Use Your Down Payment to Cover Negative Equity?

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MforceLA

JANUARY 30, 2024

One of the major factors that influence auto finance is the down payment. A lot of car dealerships would encourage you to put down a low down payment to save costs in the initial stage. Let us help you evaluate the pros and cons of a low down payment to help you make a wise choice.

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Shawn Ryder

JANUARY 18, 2024

Understanding Down Payments: A Guide for Everyone If you’ve ever heard adults talking about buying a car or a house, you might have come across the term “down payment.” ” But what exactly is a down payment? In this article, we will break it down for you in simple terms.

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Carscoops

APRIL 7, 2024

For the fifth quarter in a row, the average annual percentage rate (APR) — that is, the amount of interest buyers can expect on their loan over the course of a year — was above 7 percent. Monthly Payment $735 $730 $739 Amount Financed $40,427 $40,468 $39,977 APR 7.1 percent, and the average monthly payment was just $662.

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Carscoops

OCTOBER 15, 2024

However, that low price comes with a catch: it requires a hefty down payment (which we don’t recommend—more on that below), bringing the real monthly cost closer to $238. Prospective buyers should keep in mind that putting cash down on a lease is generally not advisable.

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Shawn Ryder

JANUARY 19, 2025

When considering the purchase of a newer vehicle, many individuals wonder whether they can use their paid-off old car as a down payment or trade-in at a dealership. Instant Credit: The dealership can apply the trade-in value directly to your down payment, which can lower your monthly payments on your new vehicle.

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Jalopnik

SEPTEMBER 26, 2023

Starting next year buyers will be able to apply the EV Tax credit directly to the sale price of an EV. Dealers are starting to sweat. But as Automotive News reports, dealers are worried the government won’t pay them back in a timely manner. Read more.

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Carscoops

NOVEMBER 8, 2024

Tesla now offers a Cybertruck lease for $999 monthly, requiring a $7,500 upfront payment. Skipping the down payment raises the monthly cost to $1,249, a safer choice for lessees. Speed-hungry truck buyers can lease the 830 hp Cyberbeast for $1,439 per month with no money down.

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Carscoops

AUGUST 7, 2024

Prospective Tesla buyers had a new place to view, test drive, and ultimately buy their vehicle. More: Polestar 2 EV Lease Slashed To $299 With Down Payment Starting At $999 That sounds lovely and all but hours later, Elon Musk responded directly to posters about it to say that he had killed the deal.

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3 Brothers Autosale

DECEMBER 20, 2023

Considering the importance of good credit auto financing, let’s look at some valuable insights and tips for used car buyers looking to make a smart investment. This not only makes your monthly payments more manageable but also ensures that a significant portion of your payment goes towards reducing the principal amount.

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AutoSuccessOnline

JANUARY 22, 2025

With consumer confidence and vehicle sales on the rise and the majority of car buyers still preferring to complete their purchase at a dealership , the ability to deliver a high-quality in-store experience including financing is imperative for dealers.

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Carscoops

SEPTEMBER 17, 2024

Brazilian buyers who want access to the promotional price of R$147,900 ($26,900) must to join the waiting list with a down payment of R$1,300 ($236). Horse has announced it will supply 12,000 engines for the Lecar 459 Hybrid, noting that the first prototype is already undergoing testing.

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Autocar

MAY 16, 2024

To begin this latest Mustang expansion phase, Farley believes Ford must start by adding lustre to the original coupé, investing both in models that are accessible to traditional buyers and in other versions that take the coupé further upmarket, the way that Porsche has done with its 911 GT3 RS and GT2 RS models.

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Carscoops

FEBRUARY 28, 2024

The 2024 version is usefully improved under the skin, bringing upgrades to the power output and interior that ought to make it far more appealing to buyers. And to provide wavering buyers with another push away from the base car, 62 kWh models also miss out on the ID.4’s 4 buyers get access to the U.S.

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Carscoops

JANUARY 18, 2024

While the R1S and R1T first started being delivered to buyers in 2021, the option to lease one of these vehicles has only become available recently. This translates to an estimated monthly lease payment of around $1,056 on a 36-month term. The company announced today that customers can now lease its flagship SUV, the R1S.

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Shawn Ryder

JANUARY 19, 2025

Two key concepts that often come into play are down payments and loans. This guide will comprehensively cover the mechanics of down payments and loans, along with practical tips that can empower buyers and enhance dealership credibility. It also reduces the loan amount, resulting in lower monthly payments.

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Shawn Ryder

SEPTEMBER 14, 2024

Creating a seamless customer journey is essential for car dealerships looking to engage online car buyers effectively. In this blog post, we will outline best practices for facilitating an engaging online journey for your customers, ensuring you capture their interest and convert them into loyal buyers.

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Jalopnik

DECEMBER 15, 2023

The program is beingv aimed at buyers who want to keep their monthly payments low and don’t have the upfront cash for a big down payment, according to a statement from Honda Read more.

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Cartime Super Center

MAY 31, 2024

However, buyers are still looking at hefty price tags and down payments. While used car dealerships don’t offer the same traditional new vehicle dealer incentives, the best offer something better—buyers’ incentives. On average, you’re looking at a sizable chunk of money, up to a $10,000 down payment!

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Shawn Ryder

JANUARY 17, 2025

Concerning finance, theres an additional term that is often steadily on the minds of prospective car buyers: negative equity. This rapid depreciation can outpace the rate at which borrowers pay down their loans. Building Equity Faster: A larger down payment accelerates equity build-up since you start off with less debt.

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Dealer World

DECEMBER 10, 2024

The scam works like this: Fraudsters connect with buyers looking for deals on vehicles. They promise below-market prices but require a hefty 50% down payment. The scammers have gotten smart about using the original payment receipts for trade-ins at other dealerships, creating a domino effect of losses across the industry.

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Autocar

SEPTEMBER 18, 2024

With the down payment, it works out at £424 a month, less than the price of Hyundai’s lease deal on a Kona small electric SUV with the 65kWh battery. To take advantage of the offer, Tesla buyers must take delivery before of the end of the month, which also marks the end of the financial quarter for the company.

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Carscoops

MAY 26, 2024

Toyota Corolla Buyer Teaches Us How To Beat Dealer Markups A Redditor posted a photo of the paperwork they claim is from the dealer for the Sonata in question. Buyer beware,” says one. With a $2,500 down payment, I was only planning on financing $29,707. “Buyers beware. Read: Don’t Be A Sucker!

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Shawn Ryder

JANUARY 17, 2025

When navigating the complexities of purchasing a car, many buyers encounter financial concepts that can significantly impact their decision-making processes. Long Finance Terms: Extended loan terms may reduce your monthly payments, but they also lead to slower progression toward equity, allowing negative equity to persist longer.

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Shawn Ryder

JANUARY 20, 2025

By dissecting both options, we can uncover the benefits and drawbacks of each to help steer potential buyers in the right direction. No Down Payment: Many leases allow for a buyout without the need for a hefty down payment. Let’s delve into them.

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AutoRaptor

APRIL 5, 2024

Furthermore, it’s vital to take into account your customer’s down payment capacity. A substantial down payment not only reduces the total loan amount but also signifies a higher level of commitment from the buyer. Furthermore, it’s beneficial to explore the concept of down payments with customers.

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Shawn Ryder

JANUARY 27, 2025

Many potential buyers find themselves wondering if they can still secure the vehicle they want even when they’re not at the financial threshold they initially set. Increase Your Down Payment: A larger down payment can lower your monthly financing costs.

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Carscoops

NOVEMBER 18, 2024

For instance, in Massachusetts, qualifying buyers can benefit from the $7,500 federal tax credit combined with an additional $3,500 state EV rebate (both subject to income and MSRP limits) for a total of $11,000 in savings.

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Car Examer

SEPTEMBER 17, 2024

For most car buyers, the cost of purchasing a vehicle can take up a significant portion of their budget. Fortunately for new car owners, most car dealers provide flexible payment terms to help you spread out your payments over time and make the repayment cost more reasonable.

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Shawn Ryder

JANUARY 18, 2025

When it comes to purchasing a vehicle, many potential buyers consider financing options. This collaboration can lead to promotional financing offers, such as 0% interest deals for qualified buyers. Down Payment A larger down payment typically reduces the principal amount financed and can influence the interest rate positively.

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Shawn Ryder

JANUARY 18, 2025

When considering whether to purchase or lease two cars simultaneously, prospective buyers may wonder if this approach provides additional leverage at car dealerships. Volume Sales and Incentives By purchasing or leasing two cars, a buyer may be seen as a volume customer. Can you negotiate for lower monthly payments on both?

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Shawn Ryder

JANUARY 28, 2025

As the automotive market continues to evolve, potential buyers often wonder, “Can I get a car?” Down Payment: A larger down payment will reduce your monthly payments and potentially eliminate the need for comprehensive financing options. Happy car hunting!

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Shawn Ryder

JANUARY 22, 2025

However, as a general guideline: Well-qualified buyers may see APRs ranging from 3% to 6% for used vehicles. Average buyers typically fall into the 6% to 10% range. For example, if you’re looking to finance a used Ford Focus from 2020, your APR can significantly affect your monthly payments and the overall cost of the vehicle.

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Shawn Ryder

JANUARY 17, 2025

Many new car buyers might feel skeptical about getting GAP insurance. Down Payment Your down payment plays a critical role in how much you owe relative to the car’s value. Without GAP insurance, you could end up owing more on your loan than your vehicle is worth if it is declared a total loss.

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Davey Auto Sales

MAY 25, 2023

Most buyers are going to need to take out a loan to buy a car, truck or SUV from Davey Auto Sales. Interest rates play a big role in how much someone’s monthly car payment, in addition to the vehicle’s sale price and taxes. The monthly payment may be higher, but it could be worth the trade-off in the right circumstances.

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Auto Remarketing

MAY 3, 2024

Buyers should be able to show up at the dealership needing only to answer a few more questions to finish their purchase. What do you want your payment to be? What’s your down payment? Buyers today already know that vehicles come with air conditioning, power windows, locks, tilt steering wheel and cruise control.

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