Down Payments

Why do I need a Down Payment?

At Advantage Car & Credit, we believe that everyone deserves to drive their dream vehicle, even with less-than-perfect credit or even no credit at all. That’s why we specialize in Buy Here, Pay Here auto financing. Part of getting you approved will require a down payment and will vary in size based on the vehicle, the amount to be financed, and your creditworthiness. Providing a reasonable down payment will help us get you approved with our lending partner fast and back on the road today.

We care more about you and getting back on the path to creditworthiness. That's why we report our customers’ payment histories to all three credit agencies to help them repair and rebuild their credit. With every on-time payment, not only can you drive a quality pre-owned vehicle that you love but you can also improve your financial future while you’re at it!


The answer is YES, or YES IF. You don't need perfect credit to finance through Advantage Car & Credit. All of our experienced customer advocates know that good people just like you have credit ratings of all shapes and sizes. We believe that everyone deserves to drive a beautiful and reliable vehicle, regardless of their credit history, and we work hard to approve our customers so that can be the case.

Start by filling out and submitting our online application. You can also call or stop in at the dealership and someone will gladly work with you to start or complete your application.

We will consider approvals based on several factors like: time on the job, ties to the area, your monthly income and expense, ability to pay, explanation of credit history, and the honesty and accuracy of the information you give us. To get started, you will need:

  • A valid state or government-issued ID card or current passport. For example, a valid state driver’s license.
  • Proof of income (a hard-copy check stub less than 30 days old, proof of check from the government, proof of regular payments from elsewhere).
  • Proof of residency (rent receipt or a copy of a utility bill).
  • Current Phone bill.
  • Four references (with complete contact info).
  • Title of a vehicle if one is being traded-in.
  • Cash for your down payment.

    • We can usually have your loan application approved and be driving the same day. and you’ll be on the road in your new vehicle the same day.

    We run a soft-credit pull during the pre-approval process, that does not impact your credit score. However, a formal credit pull is necessary for the final approval process with our financing company. This process allows us to establish your account and report your on-time payments to assist you in rebuilding your credit.

    Yes; Because of our special relationship with our lender, we can still get you approved even with prior repossessions.

    No problem. You’ve come to the right place. We specialize in financing customers with less-than-perfect credit scores or even no credit at all. Our finance company considers a number of key factors during the underwriting process for approval; not only your credit history or your credit score.

    Get Started

    A down payment is a payment made upfront in a purchase and is often required when financing the purchase of a car. There are a few reasons why a down payment is necessary for auto financing.

    First, a down payment helps to lower the overall cost of the loan. When you put down a larger down payment, you are essentially paying for a portion of the car upfront. This means you will have to borrow less money, and as a result, your monthly payments will be lower. This can make it more affordable to own a car, especially if you are on a tight budget.

    Second, a down payment can also help to improve your chances of getting approved for a car loan. Lenders often look at the size of the down payment as an indicator of the borrower's financial stability and commitment to the loan. A larger down payment can show the lender that you are able to save and manage your money effectively, which can increase your chances of getting approved for a loan.

    Finally, a down payment can also help to reduce the risk for the lender. When you put down a down payment, you are essentially taking on some of the risk of the loan. This means that if you default on the loan, the lender will be able to recoup some of their losses by selling the car. This can make the lender more likely to approve your loan, as they will have less risk on their end.

    In conclusion, a down payment is an important part of the auto financing process. It helps to lower the overall cost of the loan, improve your chances of getting approved for a loan, and reduce the risk for the lender. It is always a good idea to save up for a down payment before financing a car, as it can make the process of buying a car much easier and more affordable.






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