More info on down payments
Do you really have vehicles for only $99 and 399 down?
-Yes we do! Just browse the inventory. We have a good selection of vehicles for only $99 and $399 down. The majority of our down payments run between $99 and $699 down! That is pretty amazing.
Why do some vehicles have larger down payments than others?
-Down payments are typically higher on the more expensive vehicles, the higher end vehicles, the newer models and the luxury vehicles. For example a 2008 Chevy Impala is going to naturally have a higher down payment than a 2005 Chevy Impala because of the price difference. We try to carry a wide range of vehicles to fit different budgets and needs.
How can you set your down payments so low?
-Doing our own financing and having a cash reserve available after many years in business allows us to absorb the upfront cost of selling a vehicle and offer our customers lower down payments than most our competitors. We are always in the negative when we sell a vehicle. What that means is it initially costs us money to sell you a vehicle. Even though you might put $400 down we have to pay taxes, a sales commission and other business expenses. Total all that up and it costs us money to sell you a vehicle. We can absorb this cost up front and offer our customers some of the lowest down payments around-even with problem credit.
Are there any gimmicks? When I come in will you hit me with plus tax, tag, and title and a $399 down payment turns into $1500?
-Nope! That is a common trick though that many dealers use. If we are asking $99 down then that is what we require.
Do I need to meet certain criteria for the low down payment?
All applicants must get approved for financing. That is true with homes, cars, credit cards, etc. Our financing program is geared towards individuals with past credit problems, low beacon scores, past repos, past bankruptcies, etc. If you meet criteria for financing then what we ask for a down payment is what we require. For better qualified applicants we may be able to lower the down payment from what we are asking. If we cannot get you approved then we can give you additional options to help you get approved such as larger down payment or a co-signer. If an applicant is required to put more money down then what we are asking then it is because your application is considered too high risk and you don’t meet the criteria for financing with us. A higher down payment can lower this risk and then can get you financed on the rest of the selling price of the vehicle.
I see a vehicle for more money down than I have-can I get into it with a lower down payment?
-We want to sell vehicles but it has to make sense for both parties. If we are asking $1000 down and you only have $800 then that may be enough. There are just so many factors to consider-your income, your stability, and your credit. Our experienced finance department will look at your application and consider many different factors to see if you can qualify for a lower down payment than what we have listed.
Ok, so I know your down payments are low but what about the payments on the vehicles?
-Our interest rate is very low compared to the industry average in our business. So even if you have problem credit and a low beacon score we can still offer you a great interest rate. What this translates into is an affordable payment as well as a low down payment. With a huge inventory and a wide variety of vehicles and prices to choose from we try and accommodate different needs and budgets.