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? asked in Business & FinanceCredit · 8 years ago

Reasonable Down Payment?

I was looking at a 93 Chevy S10, V-6, manual, for $1995 (roughly $2700 after tax, title, doc fees). I offered $280 for a down payment (just over 10% overall vehicle cost). They came back at $700. Are they way out of bounds on that or is that normal on something like that?

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  • Steve D
    Lv 7
    8 years ago
    Favorite Answer

    Who is "they"

  • bdancer222
    Lv 7
    8 years ago

    Lenders are likely to ask for larger percentage downpayments for older vehicles. That $700 is probably covering the whole cost of the title and doc fees and a percentage of the sales price/taxes. Seems reasonable to me.

    Source(s): BD
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