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Average Down Payment

Nellyinda803

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Nellyinda803 Enthusiast

Nellyinda803

Posted
Posted

Hey all. Looking to get a 2014+ Silverado/Sierra. I know mine wont be the same but I just want to be nosey and ask what was everybodies down payment when they bought it? The truck im probably going to get is a 2015 Summit White 2500

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GulfTango Enthusiast

GulfTango

Posted
Posted

I always try to put down as much as I can...$10k-$20k if I can. I hate being upside down if I decide to trade in.

 

 

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NitroDatsik Senior Enthusiast

NitroDatsik

Posted
Posted

I always try to put down as much as I can...$10k-$20k if I can. I hate being upside down if I decide to trade in.

 

 

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I would never put that kind of money down, unless is your dream truck and you know your going to own it until your great great great grandchildren take over it. If your going to trade might as well lease it.

 

2014 Silverado 2WT CC Summit White 4.3L V6

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IG: jorge_dropkick_rangel

Roader Enthusiast

Roader

Posted
Posted

After all rebates and trade I right about 41k and put down 6k. At 1.5% interest I didnt want to put anymore down and the payment was same as my last car payment when I had one

larryz71 Enthusiast

larryz71

Posted
Posted

mine was ~$41K OTD

 

Financed ~$17K @ 1.94% for 4 years

 

Got ~$16K trade in for my old silverado, and put cash down for the rest.

KARNUT Senior Enthusiast

KARNUT

Posted
Posted

Never ever put an down payment on any vehicle. I always buy after Dec. of a model year with deep discounts and low interests, never trade upside down, usually don't keep more than two years. I just traded my 14 for a SUV came out a little ahead.

 

 

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GulfTango Enthusiast

GulfTango

Posted
Posted

I would never put that kind of money down, unless is your dream truck and you know your going to own it until your great great great grandchildren take over it. If your going to trade might as well lease it.

 

2014 Silverado 2WT CC Summit White 4.3L V6

DROPKICK Edition

IG: jorge_dropkick_rangel

I appreciate your opinion, but "You do you, ima do me." As they say.

 

I am at 0% financing, otherwise I would've just paid cash. I'm really just financing to show some credit utilization. Everything else is paid off.

 

 

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Chevor Senior Enthusiast

Chevor

Posted
Posted

Dealership was starting to irritate me. 3 employees asked "Who did I finance with?"

 

I guess it's common practice now just to give things away. No risk when the GOV will bailout the banks for bad loans. Then not pay anything anymore for to the people who actually give them cash. Main reason I bought the second truck.

smrr1 Senior Enthusiast

smrr1

Posted
Posted

as much as i can. i put 10k down on this one. msrp 49k. owe 30k. hoping to pay off in less than a year. would have paid in full if i had it. the older i get the more i see how my grandparents had it right and how screwed up the masses are today. the american way is not what it used to be and i really think we have it wrong today.

Imcrazy Senior Enthusiast

Imcrazy

Posted
Posted

I have never put any money down on a car. I usually lease and you get royally screwed on a lease with money down if the vehicle is totaled you lose you down payment because they just absolve your lease and you don't get credit for the 'pre' payment which is all the down payment really is on a lease: evenly distributed prepayments.... With interest rates so low on vehicles unless you have no other debt I can see it being financially wise to make much of any down payment. If you have positive equity on a trade it take the money and put it towards other debt however, if you don't have any other debt besides maybe a mortgage I can see making a sizable down payment.

arkenzo Enthusiast

arkenzo

Posted
Posted

Never put a down payment on anything that has 4 wheels and depreciates every time you start it up and drive out of the driveway.

 

Another issue is California's high rate of distracted drivers, I'd hate to put down a large chunk of cash into a car, then get rear ended.....

 

I guess if you plan on keeping the truck forever, then down payments may make sense......I usually finance a car/truck within the range of monthly payments i can afford and trade in after my car hits 100,000 miles.

 

I'd much rather invest my money into my properties (home & 4 unit apartments).

Silver ice 6.2 Senior Enthusiast

Silver ice 6.2

Posted
Posted

My last truck was paid off.. there's was nothing wrong with it. I became a fan of the 14-15 front end. So I ordered how I wanted it to be. Put $13,000 down. I've never been so happy with a vehicle! Everytime I go outside I always grin and say wow that's mine. I'm in love with this truck wife and kids love it as well. And a major convincing thing was my brother was my salesman.. anyways financed almost 35 grand and payments are $721.60. High payment for alot of people but I can easily afford it.

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