Would I have to put money down on a car if i'm 18 and want to buy one from a dealership?

Question

I was thinking about buying a 99-01 mustang GT someday. But since i'm only 18, would I have to put money down?

Answer 1

Yes. 100% down in fact. Unless you want to pay 30% interest or the like. Remember that zero interest financing is for people with fabulous credit ratings. Like I have. And when I bought a used car last Saturday, I still paid cash. That's why I have fabulous credit.

Answer 2

it's not even that expensive.

maybe like 5-8k.

just make one lump sum payment.

Obviously, if you can't afford it, you have to put down a payment, plus skyrocketing rate, because banks are reluctant to give easy credit in the midst of our mild recession.

I think, if you can't afford it, don't buy it. Just save up every pretty penny and come back later.