What’s Your Average Down Payment with Bad or No Credit?

Salesman counting money with customer


Buying a used Dodge Avenger, used Dodge Grand Caravan, used Chrysler 200, or other car with bad credit near Phoenix? Purchasing a used car, truck, van, or SUV in that position can be stressful, but you’re actually in a better spot than you might think: Making regular payments on a car loan on-time can actually improve your credit score, and make it easier to secure lower interest rates on other loans. What kind of down payments do Mesa area drivers make in that pursuit? Learn about their rationale here from Cactus Jack's Auto.

The Average Down Payment on a Car with No Credit

Most subprime lenders – banks and other institutions that give loans to people with bad credit or no credit – usually require a down payment of 10% on a loan, or $1,000, whichever is greater. So you’ll find that’s likely the most common down payment drivers in less-than-ideal credit positions around Surprise tend to make.

However, if you can afford a larger down payment, that can make a big difference in lowering your monthly payment, and achieving a lower interest rate on your loan – which means you’ll pay much less in the long run. So if you’re asking how much down payment for a car with bad credit, the best answer is “as much as possible.”

Value Your Trade, Meet Your Down Payment with Bad Credit

If you’re trying to save money by purchasing a solid used car for only a few thousand dollars, that $1,000 down payment might seem like a looming number. But many drivers already have what they need to cover the most significant part of that down payment: their old car. Dealers like Cactus Jack's Auto offer trade-in allowances that can easily be applied to down payments, and sometimes even cover minimums like those faced by shoppers with bad or no credit.

Cactus Jack's Auto Can Help Buyers with Bad Credit or No Credit

Shoppers near Glendale know us as the dealer of choice for those with bad credit or no credit. Contact us, stop by our showroom, and talk with our knowledgeable salespeople and friendly finance experts. We’re sure to find a deal that works to improve your credit score, fit within your budget, and get you behind the wheel of the vehicle you need.

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(602) 443-5225

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2440 W Camelback • Phoenix, AZ 85015

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Cactus Jack's Auto

2440 W Camelback Phoenix, AZ

Phone: (602) 443-5225

http://maps.google.com/?q=2440%20W%20Camelback%2C%20Phoenix%2C%20AZ%2085015

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Phone: (602) 443-5225

2440 W Camelback Phoenix, AZ
33.5101018 -112.1115231
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Cactus Jack's Auto
Cactus Jack's Auto
2440 W Camelback
Phoenix, AZ, 85015 United States
(602) 443-5225
https://di-uploads-development.dealerinspire.com/cactusjacksauto/uploads/2017/10/CactusJacksOGImage.png
Cactus Jack's Auto 33.5101018, -112.1115231.