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With the average monthly payment for new cars at $726 and used around $533, according to Experian data from the third quarter of 2023, finding a bargain is top of mind. And signing off on a 0 ...
The lowest down payment amount you can put down on a car is zero dollars, but this option can result in higher monthly payments and more overall interest.
Research manufacturer Incentives: Check online for seasonal offers, coupons, and rebates like Ford's military recognition program, which could help you get a low or $0 down payment.
In accounting, a down payment (also called a deposit in British English) is an initial up-front partial payment for the purchase of expensive goods or services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction .
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This article originally appeared on GOBankingRates.com: Car Buying Hack: Starting in 2024, You Can Use the EV Tax Credit as a Down Payment Show comments Advertisement
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