Why You Don't Need a Down Payment Or Any Money Down to Buy a Car With Bad Credit!

There is no need for you to have to put down a down payment when buying a car with bad credit. There's no need for it unless the price of the car is TOO HIGH! The only time a down payment is needed for a bad credit car loan is if the lender tells the dealer that they won't L-E-N-D as much as the dealer is trying to S-E-L-L.

Sometimes, dealerships will ask for a down payment or a cash deposit before the customer has even committed to buy the vehicle. This is a controlling negotiation ploy that the sales manager is using against you. I remember back at a dealership in Valdosta, the sales manager insisted that the customer go to an ATM and get his down payment before the dealer would even talk price. A salesman drove the poor guy to the bank and they came back with $3000.00 cash. I remember the sales manager fanning the money in front of his face as he told us how good it smelled. What was worse is the sales manager KNEW that the guy couldn't get financed because he wasn't even a U.S. citizen. It was just a game and his way of having fun.

Frequently, while your negotiating price with a dealer, they'll ask you to write out a check or give them a cash deposit as a gesture of commitment. The salesman may tell you that he will have a better chance at getting the sales manager to "accept your offer" if you write out a check showing that you're serious about buying the car. That's absurd, but it happens in dealerships all across the country, everyday. Once they have your check, they have more control over you - and that's what it's all about in negotiating car deals. If the salesman can control you, he's got an advantage. Whoever holds the money is usually the one with the most power.

So don't give it to them!

Not unless you've already settled on price. Besides that, you don't even need a down payment for a car loan. Not even with bad credit! There are places on the internet that offer real opportunities for people that need auto financing and can get you approved for a REAL car loan without a down payment.

Now you know that the only reason that a down payment is even asked for is to control you or because the dealer is selling the car at too high of a price in the lenders eyes. You'll be better off getting your financing arranged outside of a car dealership and on your own. That way, YOU have control and can buy a car as if you are paying cold hard cash. Then they don't have a leg to stand on in the negotiation. They can take the offer or leave it.