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      03-28-2008, 06:19 PM   #1906
LilRedGXP
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Drives: 2007 Pontiac Solstice GXP
Join Date: Mar 2008
Location: Toronto, ON

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Quote:
Originally Posted by midknight xrs runner View Post
A typical down payment is 10-30% of a car. What makes you think he wouldn't put the 10 grand down and have the finance company pick up the rest of the tab. If the dealership wanted this to go away, they wouldn't make Ken out to be a bum from RPV. I don't know about you, but the only people i know who live out in that area are tycoons and business execs. Glad you're for the consumer, but you're just not going to win this fight.
I would argue that an atypical DP is 10-30% of the total. Why on earth would someone put as high as 30% down on a deal if they have low financing or zero % financing (or lease)? I personally have never put in more the $5,000 down on any car I've ever owned. It all comes down to how well your financing or leasing company believes you can pay them back for them to determine the amount down.

My lease on the GXP (2nd lease outstanding) was basically the bare minimum to get it out the door and that's the way I wanted it. My leasing company was cool with that considering I have been dealing with them for over 20 years and never been late or missed a payment (knock on wood).

I would like to believe that anyone looking to buy a BMW, let alone an M3, has the financial wherewithall to finance such a purchase or have collateral that a financing company would have no problem lending them the money. Also, with the economy (housing market) going down the tubes I'm pretty sure that lending standards have been tightened so for Dooma to be pre-approved says alot about his finances.

on Dooma. Congrats.

LilRedGXP
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