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Do Bellevue Drivers Know Why a Down Payment Is Important?
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(Posted on Aug 27, 2018 at 05:42AM by Patrick Wensink)

Dear Patrick,

I have been dreaming about the new Nissan Leaf I test drove last week. However, Iâ€™m wondering if I can save a little money and simply not make a down payment. Whatâ€™s the worst that could happen?

-Celeste

Hi Celeste,

Thatâ€™s a great choice. I can understand why you are so eager to take this Leaf home. Buyers often feel quite a pinch every month if they donâ€™t make a down payment.

To be clear, some lenders donâ€™t require any money up front, but borrowers will usually get slapped with a huge interest rate for the honor.
Instead, experts strongly recommend putting whatever you can up before the sale. This not only lowers the monthly dues, but it also gives you a lot more leverage. Banks and other car loan companies will often give a better percentage when there is a chunk of change up front.

Donâ€™t forget, selling your current vehicle and using that can help if your account is a little tight. Whatever amount sounds manageable will ultimately make an impact in the long run.

Let me know if there are any other questions we can answer.