How To Get A Car With No Money

can you buy a car no money down

If you're in need of a vehicle but don't have the savings built up to put a down payment on the car or truck you're looking at, you might be wondering if it's possible to purchase the vehicle. While it's usually smarter to put down a down payment, it is possible to buy a vehicle without doing so.

Here at Performance Ford, we work hard to get you the vehicle you need at a price you can afford. From our selection of quality, reliable pre-owned models to our lineup of new Ford crossovers and trucks, there's something for every buyer in our showroom at 213 South East Boulevard. If you have questions about financing, let our team help you! Contact us below or call us at 910-765-0882.

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How Can I Buy a Car with No Down Payment?

Whether it's due to circumstances out of your control or your current financial situation, there are a variety of reasons why you might not have the funds for a down payment. If you need a vehicle now but don't have money in the bank, visit a variety of lenders to see what terms you are offered. You can also bring on a co-signer with good credit, though be aware that that if you miss payments, you will lower their score.

Have you considered trading in your current vehicle? Whether you can get a lot or a little for it, every bit helps. Use the trade-in value as part or all of your down payment to avoid paying out of pocket. If you're looking for a car, our Performance Ford team is here to get you in a car you'll love at a price you can afford!

Should I Buy a Car with No Down Payment?

Buying a vehicle without a down payment could leave you paying more over the lifetime of your loan than if you put money down up front. If a customer gets approved for $0 down, the interest rates associated with their loan could be higher resulting in more money paid over time.

If you have a credit score that qualifies you for a $0 down loan, you can go ahead and pull the trigger. Just remember that higher rates and a longer loan life could equal more money out of your pocket. Consider trading in your current vehicle to help you leverage funds for a downpayment if that is better for your financial situation.

Why Do I Need a Down Payment?

Lenders are in the business of getting paid, which means they want to know that they'll get their money back if you should default on your loan. Putting money down up front is a show of commitment. Plus, putting down more than is suggested is a good way to lower your interest rate and save money over time.

Where Can I Find Affordable Vehicles?

If you're shopping on a budget, you'll want to check out the great selection of pre-owned models here at Performance Ford. Not only can we help you get behind the wheel of a fantastic car, truck, or SUV, but we can help you understand your financing options as well.

If you're ready to upgrade your ride and want to discover the Performance Pledge difference , visit us in our showroom at 213 South East Boulevard in Clinton or call us at 910-765-0882.