Is down payment based off of sticker price or negotiated price?

rohardi · 10-29-2009, 12:45 PM

I have been getting conflicting reports as to what figure I should be calculating the percentage of my down payment off of. Some people have told me that the percentage is based off of the sticker price of the car and some have told me the final price of the car... If the car's sticker is $43,000 Would 20% be

$43,000 X 20% = $8,600

OR the negotiated price of $36,500

$36,500 X 20% = $7,200

What is the bank looking at when financing the car?

maxipad96 · 10-29-2009, 01:09 PM

Base your down payment off the negotiated price. Sticker price means absolutely nothing.

Chekov · 10-29-2009, 01:25 PM

Down payments can be subjective, often based on your overall credit history. If you have a good credit rating, let’s say anything above 750, you could theoretically drive off with no down payment at all. At any rate, it’s a negotiated item with most lenders.

CHI-TOWN G37 · 10-29-2009, 01:52 PM

The down payment is almost always calculated on the negotiated sale price of the car and it may or may not include sales tax as well, which could be a hefty amount.

10-29-2009, 12:45 PM	#1
rohardi Registered User Trader Score: (0) Join Date: Mar 2009 Posts: 46	Is down payment based off of sticker price or negotiated price? I have been getting conflicting reports as to what figure I should be calculating the percentage of my down payment off of. Some people have told me that the percentage is based off of the sticker price of the car and some have told me the final price of the car... If the car's sticker is $43,000 Would 20% be $43,000 X 20% = $8,600 OR the negotiated price of $36,500 $36,500 X 20% = $7,200 What is the bank looking at when financing the car?

10-29-2009, 01:09 PM	#2
maxipad96 Registered User Trader Score: (0) Join Date: Apr 2005 Location: Atlanta Posts: 582	Base your down payment off the negotiated price. Sticker price means absolutely nothing. __________________ 2008 Ivory Pearl G37 Sport 6-Speed

10-29-2009, 01:25 PM	#3
Chekov Senior Citizen 2008 Infiniti G37 My Garage Trader Score: (0) Join Date: Jun 2008 Location: Los Angeles Posts: 489	Down payments can be subjective, often based on your overall credit history. If you have a good credit rating, let’s say anything above 750, you could theoretically drive off with no down payment at all. At any rate, it’s a negotiated item with most lenders. __________________ '08 G37 Coupe, Journey w/nav, prem. Blue Slate/Stone

10-29-2009, 01:52 PM	#4
CHI-TOWN G37 Gone Old School Muscle Trader Score: (0) Join Date: Apr 2007 Posts: 3,253	The down payment is almost always calculated on the negotiated sale price of the car and it may or may not include sales tax as well, which could be a hefty amount. __________________ Driving the Stang's 427 ft.lbs. of torque Never argue with idiots - first they drag you down to their level, then they beat you with experience. Do or Do not. There is no try. -Yoda

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