Overhaulin'

What is the standard amount of down payment for buying a new car?

I am planning to buy a new car from the dealership. The car price will probably be around $20,000. The car I have right now is a piece of junk so they probably wont take a trade in for a penny. How much sould I plan to save for a down payment? Thanks!

Public Comments

1. The more you can put down on your new auto, the more you save in the long run, on interest. but a good rule of thumb is from 15 to 20 percent.
2. The more you put down, the less your monthly payment will be...for 20k you may want to put down 4k-6k and your monthly payments could be 340-420 depending on how well your credit is.
3. It depends on your credit history. I put $0.00 down when I bought both of my cars within the last year. However, the more you money you put down, the lesser your car payments may be.
4. 2,000 is standard.