Nissan Down Payment Guide

Our Nissan payment center works with car buyers of all economic backgrounds. This includes loan pre-approval. One condition for approval comes down to the amount you’re able to foot as a down payment. We’ll discuss down payments and what’s the amount we recommend.

Minimum Car Down Payment

Your down payment varies depending on multiple factors, such as your credit score, car model, and loan type. However, a minimum of 10 percent isn’t uncommon. This applies to both new and pre-owned vehicle purchases. If you have a prime credit score and a good debt-to-income ratio, then the minimum may even be lower since your records show you’re a low-risk borrower. You may not even have a minimum down payment at all.

How Much Should I Pay?

A good rule of thumb is to aim for a 20 percent down payment. There are several advantages associated with a 20 percent or higher down payment. For starters, the higher the down payment, the shorter your monthly repayment length. A shorter repayment length means less time for interest to accrue.

A 20 percent down payment is also desirable to loan institutions. The fact that you have the financial means for a higher down payment means you’re likely in a more stable financial situation. Therefore, you’re at a lower risk of defaulting.

Down Payment Tips

Consider settling for a lower trim level. This may lower the cost enough to help you meet the 20 percent threshold. You can consider purchasing a pre-owned or Certified Pre-Owned vehicle. You can also put the trade-in value of your current vehicle towards your down payment.

Get Financial Assistance at Sansone Nissan

Use our Nissan payment calculator to determine your estimated monthly budget. You can also speak with one of our dealers at Sansone Nissan after selecting a Nissan model to see what loan types you may be eligible for.

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