Let's start by talking about what the typical down payment suggestions are for a new car. Some say 20%, while others say the average is closer to 12%. This means that for a vehicle in the $10,000 to $15,000 range, you will need to pony up anywhere from $1,200 to $3,000 for a down payment on a car. When you're on a tight budget, coming up with this amount may prove problematic.

Having a down payment ready will always benefit you when you are buying a car, regardless of your financial history. However, when you are dealing with a tarnished credit background, it may not be worth your while to work with a traditional car dealer even if they can approve you for a down payment. You need to work with a dealer who has qualified experts in subprime auto finance.

Drive away in a new car today with No Money Down! Offers like these can seem enticing, but how much they will actually benefit you depends largely on the current state of your credit. When thinking long term about the affordability of a car purchase, you will want to consider the total cost of the vehicle when interest rates are figured in, as well as how negative equity may affect your finances down the road.

Car buyers with damaged credit usually want to know if they can quality for an auto loan with a zero down payment. The answer in most cases is no – unless they have a trade-in with enough equity to meet the lender's conditions.

A postdated check is not an acceptable down payment on a car loan and can result in the lender rescinding the deal and cancelling a dealer's contract. The only way to avoid this, if the dealer is agreeable, is to wait until those funds are available before taking delivery.

When you're buying a new vehicle, a down payment can be a huge benefit for you, and it may also make or break your chances of getting approved by a lender. But when you're low on cash, is there a way around this without losing the deal? There are some other options to keep in mind so you can still get approved for that car loan.

When you need auto financing with bad credit, a down payment will provide you with many benefits, yet most people still view it as a drawback.

A recent report from TransUnion says car buyers should expect to need larger down payments as we move into 2018.

Realistically, if you have decent credit, it’s not unheard of to make a $500 down payment. If you’re dealing with bad credit, however, you should expect to put down more. Sure, $500 down may get you financed, but the value of a down payment can be so much more.

Instead of thinking of a down payment as a hurdle, car buyers with credit issues should think of a down payment as a way to save themselves money as well as a way of contributing to the success of their credit repair efforts.