Question: What is the minimum down payment on a car?

When it comes to a down payment on a new car, you should try to cover at least 20% of the purchase price. For a used car, a 10% down payment might do. Part of your decision will depend on where your credit score stands.

What is the lowest down payment for a car?

10% Minimum Down Payment Requirements When youre dealing with poor credit, the smallest down payment you can typically make is 10% of the vehicles selling price or at least $1,000.

Is 500 enough for a downpayment on a car?

Realistically, if you have decent credit, its not unheard of to make a $500 down payment. If youre dealing with bad credit, however, you should expect to put down more. At the same time, only a lender can truly tell you how big or small of a down payment youll need.

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