How much to put down on a car purchase?

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All depends on your rate. We got 2.5 on my wife's recent new vehicle. I went in with the intention of writing them a 10k check, but when he showed me that 10k down would only save me about $500 in interest over the 60 month loan, I kept my checkbook in my pocket.

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This is the same thing I did but I have a 2.25 rate

I personally would not get a loan that's a longer term than the bumper to bumper warranty. I have a 60 month loan and warranty is 7 years or 75,000 miles

Just do your research and don't over pay for your purchase

pay cash

They wanted $1999 for the extended warranty. I paid $1090 for the double the warranty. Well worth it in my book

People have different philosophies. I may get heckled for this. I paid cash for first vehicle. Plan on having 2-3k loan on 2nd vehicle. (15-17k down-- includes trade in). And paid off in 6-12 months. I don't want debt. Some see it as no problem.

Where should I look to get a car loan from?

I try and pay down 50% upfront.

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Where should I look to get a car loan from?

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Penfed has great auto rates. I'd start there

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I don't want debt. Some see it as no problem

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"Debt" is very vague. Credit card debt @ 20%? Problem, big problem. Home loan or car loan at 4% or less? Pay your monthly minimums IMO.

It's all about the cost of money. I believe I can do better than 4% with my money over the next 6 years. I don't believe I can do better than 20%. Pretty simple.

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I may get heckled for this.

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