Question about down payment
 

I am planning to buy new Z tourning navi

guessing OTD price would be $36k

So is it possible if i put down for 5K as down payment?

and it will be 60 month with excellent credit score around 740.

You can put down whatever you want, or put down nothing at all. It all is up to you.

I see why not. Your apr will probably be higher. Btw, excellent scores are over 835..

Agreed. mid-high 700s is "good"

Mid 700s is tier 1 with NMAC

Speak English people. It's also very useful to be financially literate before you spend $36k.

Whatever you put down, make sure you can cover the monthly payments.

Depends on what kind of income you bring home. You shouldn't really go over 10% of your total income on your car payment. If 5k down will get you into that zone then hell knock yourself out. Just remember the 370z will probably raise your insurance rates along with having high gas expenses. Tires need replacing probably every 20-30k miles if you are lucky. You probably will see about 1k or possibly more the more you enjoy it.

you can put down whatever you want!

just don't buy something you can't afford :)

good luck.

I have a 765 and I don't feel it is excellent! :(

Actually once you hit 720, you already get best rates. Everything after that is just gravy.

one of the 3 dealerships im currently talking to now, i filled out a form for everything so they could find out my credit score exc... whether id qualify and they immediately returned with an email..... saying (this is the exact email..)

" your car buying score was around 750. Its a little different then your actual credit score, basically it means we'll have no trouble getting you approved for a top tier loan, we cannot send it out to a bank without actually having you here to sign the form"

Actually, credit scores only go up to 835....

Not mine.

http://4.bp.blogspot.com/_Gwg_CUzB4r...0/over9000.jpg

Down payment all depends on what you want your monthly payment to be. You don't have to put down anything like many have said. I didnt want my payment over 400 dollars a month so I had to put quite a bit down.

It also depends on how much you want to save on the price of the car, versus how much you want to keep in the bank over the term of the loan.

If you put down a larger DP, you will pay less interest at a fixed rate, but you'll have less immediately available.