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Hello!  I am 23 years old and looking to buy my first car.  I want to buy a Toyota FJ Cruiser, and the one I want runs about $23,000.  I've read that its good to put down at least 10% if you can and that 20% is even better, I've even heard that sometimes people put down only 5%.  I however find that it would be easier for me to put down $1,2000 cash.  Its not as high as 10% but its a little over 5% down.  I also don't currently have the best credit, its pretty low at the moment.  I know that people with a down, no down, good, bad, or no credit, buy cars everyday, however, I want to know if this is an actually realistic down to buy a car at the cars price, and a Toyota.  Thanks!!  

Hi, If U can wait, I will have some info. for U.  My grandson has a Marketing Class &
teacher is just explaining while it may be best to...put no down payment at time of purchase.   Seems somehow dealer eventually is able to add your DP into final price &
U would not even realize what has been done.

Will have him get the correct info for me and let U know. Hopefully, by Mon.
I am also in the process of purchasing a new car or truck.  I can also use this info.
  Have a Great Weekend  

In the car business, CASH is KING.  The more you put down, the less your monthly payments will be.  Normally if you don't great credit, you would have to put down more.  The no money down policy is that you don't get rebates from the manufacture.    

Here is what I learned.

Most banks require 20%-30% down + TTL.

Advantages of Cash Investment:

Lower Payments and Interest rates.
Quicker payoff
Shorter financing terms
Better equity position
Cover inequity in trade

Zero Down
Higher Payments and Interest rates
Higher interest charges
Longer terms for financing
Negative equity

ENC