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Auto Loan & Down Payment?

tag
Anonymous
Not applicable

Auto Loan & Down Payment?

This is a stupid question, but  but I've only had one auto loan before and let the dealer do all the work.

 

So If I'm using a credit union for a loan & giving the dealer a check, do I give the bank my down payment or the dealer?

2 REPLIES 2
Anonymous
Not applicable

Re: Auto Loan & Down Payment?

If car costs $25k out the door and your draft is $20k, you give dealer the $5k.
Message 2 of 3
Shooting-For-800
Senior Contributor

Re: Auto Loan & Down Payment?

The CU is paying the difference of your total purchase and what you paying as down payment.

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 3 of 3
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