The down payment you need will depend on many factors.

Credit

Your previous credit plays a factor in what kind of down payment you can qualify for now. If you have charge-offs, repossessions, bankruptcies, and judgments: YOU WILL NOT GET THE SAME REQUIRED DOWN PAYMENT THAT SOMEONE WITHOUT THOSE THINGS WILL GET. It seems obvious to most, but from some of the email questions we get, it is not as obvious as we thought.

Vehicle

The year of the vehicle. The miles of the vehicle. Even the make and model of the vehicle can affect your down payment.

Loan Terms

What interest rate do you want? If you put more down, you can often get a lower rate because the loan is less risky to the lender. The lowest down payment does not always get you the best loan, so think about what you can afford to pay. There is a big difference between the amount of money down you need to get approved, and the amount you need to get your best loan.