Quote:
Originally Posted by Draper
Well since you asked, if everything goes as expected it's a wash, since you're paying the same amount anyways.
The flip side is if the car is totaled or stolen any money you put down is completely lost.
So overall, putting money down adds risk for no real benefit.
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I appreciate the input and not trying to be harsh but why wouldn't I ask, am I just supposed to take your word for it? I guess that makes sense but I'm not too worried about my car getting stolen. I suppose being totaled is always a possibility. I would imagine how much you are compensated depends on ones insurance coverage /company. I recently applied for a home loan and despite a credit rating above 800 the lender was a little concerned about my high car payment. As I said, it can negatively affect your credit and I see that as at least as significant of a factor as worrying about theft or totaling my car and possibly losing down payment.