How much did everyone put in for down payment?

[Bolo]

When you purchased your new Civic, what was your down payment amount?

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[hondo]

To keep the payments down, we put down about 11.5k. We borrowed 17k from PNC using their Readycheck program at 1.99%

 

[Bolo]

Wow that's a lot. I can only afford a down payment of $2k.

To keep the payments down, we put down about 11.5k. We borrowed 17k from PNC using their Readycheck program at 1.99%

 

[crea78]

Paid the car off, so technically $23k

 

[RedTouringMA]

I put down 4 grand to keep payments low

 

[david1pro]

I put down 3K on a credit card, as I'll get cash back in rewards and will pay off the CC bill when it's due, avoiding interest. Credit cards can be magical money-makers or horrible money-suckers, depending on how you use them. I was considering putting down more, but I'm going to put that towards house curtailment instead, since the APR on the house is higher than the car. I actually owe more on this Civic than on my house!

 

[Mannyp93]

I havent gotten one yet but i plan to put down 4-6k on a hatchback

 

[jhaze84]

$4k total. $3k cash + $1k trade-in value leftover from the old loan payoff

 

[hondo]

Wow that's a lot. I can only afford a down payment of $2k.

Well, 4.5k of that we recovered when we sold the old car. After the old car was paid off we kept it for another year, saving the money we previously used for payments for the down payment on the new car.

 

[benttable]

Put down 5.5k + 3.5k trade-in. I plan to pay 3k for the first month of financing. I'm reading that your credit score takes a dip due to several pulls for the loan and dealership identity check. Also initially you owe back 100% of the loan. The credit score improves quite a bit when you owe 80% or less.

 

[Billy4202]

$13k down here, $13.6ish financed. Probably gonna add to payment to drop term to 36 months.

 

[hondo]

I'm reading that your credit score takes a dip due to several pulls for the loan

If they are all around the same time it gets counted as one. They understand that you may be rate shopping. I believe if they are within 2 weeks or so.

 

[RedTouringMA]

If they are all around the same time it gets counted as one. They understand that you may be rate shopping. I believe if they are within 2 weeks or so.

Mine didn't do that. I got waked for each dealership who shot gunned me out to all their banks. Lost 30 points last year while car shopping.

 

[hondo]

Mine didn't do that. I got waked for each dealership who shot gunned me out to all their banks. Lost 30 points last year while car shopping.

Wow, it shouldn't have done that. Even if it counted as multiple hard inquiries, it's such a small factor in the score.

http://www.experian.com/blogs/ask-e...iple-inquiries-when-shopping-for-an-car-loan/

http://www.washingtonpost.com/wp-dyn/content/article/2005/05/04/AR2005050402237.html

Edit: I just checked mine on creditkarma and my transunion score went down by 6 and my equifax score went down by 1. This includes 1 hard inquiry (I know PNC and the dealership each did inquiries) and one new account for the loan itself.

 

[scsi]

I didn't put anything down. Rates are so low, it didn't make sense for me to. The new loan isn't on my credit report yet, but the inquiries didn't hurt my credit score at all. In fact, with the two hard inquiries, my credit score went up 6 points somehow... I didn't let the dealer run anything, though.

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