HOW DOES MY DOWN PAYMENT AFFECT MY

AUTO LOAN?SOMETHING TO CONSIDER DURING TAX TIME

TIPS AND TRICKS FROM YOUR FRIENDS AT AE FINANCIAL

HOW TO MAXIMIZE YOUR TAX REFUND•WHEN IT COMES TO BUYING CARS, THE LARGER THE DOWN

PAYMENT, THE BETTER.•DOWN PAYMENTS REPRESENT INSTANT CASH IN THE POCKETS OF

LENDERS, WHICH USUALLY MAKES THEM MORE WILLING TO BE FLEXIBLE WITH RATES AND PAYMENTS•THE MORE $ DOWN = THE MORE EQUITY YOU’VE PUT IN THE

VEHICLE

MORE $ UPFRONT = LESS $ SPENT LATER

•20% DOWN USED TO BE THE “MAGICAL” NUMBER•IN 2015, PEOPLE WERE ONLY PUTTING ABOUT 10.4%

DOWN. WHY?• INCOMES HAVEN’T BEEN RISING, BUT CAR PRICES HAVE

WHAT DOES THIS HAVE TO DO WITH MY RETURN $?

•WHEN WILL YOU HAVE THIS AMOUNT OF AVAILABLE CASH AGAIN?•ARE YOU TRYING TO REBUILD YOUR CREDIT? •USING YOUR REFUND $ MEANS YOU WON’T BE DEPLETING YOUR

SAVINGS ACCOUNT•DO YOU HAVE A TRADE IN? THIS ADDS MORE $ TO YOUR DOWN

PAYMENT

THE POWER OF THE DOWN PAYMENT•SHORTER LOAN TERMS, WITH LOWER INTEREST RATES

AND LOWER MONTHLY PAYMENTS•MIGHT HELP GET YOU FINANCED IF YOUR CREDIT

SCORE ISN’T THE GREATEST•GIVES YOU MORE ROOM TO NEGOTIATE TERMS