A down payment is only required when the vehicle price is higher than the approved loan amount, or the sales price exceeds the value of the vehicle by 25%. You may choose to make a down payment to decrease the amount of your loan, thereby decreasing your payment amount and possibly qualifying for a lower interest rate. The loan configurator tool within your approval can assist in determining your preferences.
Articles in this section
- Are there any vehicle restrictions?
- Can I fax, rather than upload my loan documents?
- Can I personalize my new payment amount and loan terms prior to submitting an application?
- Can I transfer my approval offer to friends or family?
- Can you issue an approval without affecting my credit score?
- Do I need auto insurance?
- Do you finance loans with more than one borrower on the loan?
- Do you finance people with less than perfect credit or who have had a bankruptcy?
- Does SpringboardAuto finance RV’s, trailers or motorcycles?
- Does SpringboardAuto offer refinancing?