GITNUX MARKETDATA REPORT 2024

Statistics About The Average Car Down Payment

Statistic 1

"On used vehicles, the average down payment is around $2,000."

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Statistic 2

"The average dollar amount for a new car down payment is approximately $4,000."

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Statistic 3

"The average loan term for a new car is now up to 72 months, influenced by lower down payments."

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Statistic 4

"Buyers who take advantage of dealer financing tend to put down lower initial payments."

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Statistic 5

"Increasing your down payment by $1,000 may reduce your monthly payment by as much as $20."

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Statistic 6

"First-time car buyers are more likely to put down smaller down payments."

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Statistic 7

"The average down payment for a new car is around 20% of the vehicle's purchase price."

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Statistic 8

"More than 25% of used car buyers make a down payment of less than 10%."

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Statistic 9

"For used cars, the average down payment typically is about 10% of the purchase price."

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Statistic 10

"On average, a 20% down payment on a $30,000 car is $6,000."

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Statistic 11

"A typical used car buyer may put down about 11% of the vehicle purchase price."

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Statistic 12

"Nearly 30% of new car buyers put down less than 5% on their vehicle."

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Statistic 13

"Financial experts recommend putting at least 20% down on a new car to avoid negative equity."

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Statistic 14

"On average, a 20% down payment can save you $100 or more on your monthly car payment."

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Statistic 15

"Putting down a higher down payment can also lower the interest rate on your car loan."

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Statistic 16

"35% of car buyers put down zero or less than 10% on their car purchase."

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Statistic 17

"Putting down more cash reduces the overall amount of interest paid throughout the life of the loan."

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Statistic 18

"The majority of car buyers put down less than 20% on their vehicle purchase."

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Statistic 19

"The down payment you put can significantly affect your monthly car payments."

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Statistic 20

"Interest rates for car loans can be higher with lower down payments."

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