How Much Should a Car Down Payment Be?

If you’re seeking an auto loan, then you may be wondering how much money you will need for your down payment. There is flexibility when it comes to down payments, but there is typically a trade off if you save money up front on your down payment with a higher interest rate over the course of the loan.

Watch this video for insight on making a car down payment. Typically, 10% to 20% is a good target, but paying more could you save you money on interest in the future.

Let GCS Credit Union help you choose an auto loan that is right for your needs and budget. Our credit union in O’Fallon offers competitive rates, online bill pay, and much more for our members. Learn more by dialing (618) 797-7993.

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