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328 messages,  Last post on Jul 19, 2009 at 7:42 PM

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What is this discussion about? Car Financing

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#326 of 328 How much down payment? by jamesgland Jun 05, 2009 (10:31 am)
Usually "your job is your credit". But I work for myself so I have no pay stubs from an employer. How much of a down payment do BHPH dealers need to finance me?   25% of the price? 50%?   I am looking for a truck in the $3,000 - $4500 range and I have $1000 to put as a down payment.   Any info would be appreciated. Replies to this message: carthell (Jul 19, 2009 7:42 pm)
#327 of 328 Re: How much down payment? [jamesgland] by carthell Jul 19, 2009 (7:42 pm)
Replying to: jamesgland (Jun 05, 2009 10:31 am) You don't have pay stubs, but you do have quarterly tax return copies, right? I would think that would be sufficient basic documentation of your income.   I would suggest going to your bank(s) first to get an idea of how you might be treated. Otherwise, I'd suggest that you try to save enough to pay the complete cost of the truck. (Consider that if you don't believe that you can save for the truck, how can you ever hope to meet the monthly payments on a loan?)

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