Down payment

Asked by Timothy Shane Dec 13, 2016 at 09:17 PM about the 2008 Chevrolet Silverado 1500 LS Crew Cab RWD

Question type: Shopping & Pricing

What percentage of cost of vehicle is the down
payment?  Like  10-12%?

4 Answers
11,695

Mark answered 8 years ago

It all depends on the value of the vehicle compared to the sale price - dealers usually sell vehicles for more than book price so the bank requires money to cover that plus what they feel is a comfortable level of loan to value ratio depending on the buyers credit history. There is no "Real Formula" per se' - Hope this helps

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650

Bill answered 8 years ago

Down payment is negotiated between you and auto dealer and also depends on your credit rating. CarGurus does not sell vehicles or arrange financing.

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