Thanks to a variety of programs available through Land Rover financing, even a premium luxury auto can be within the reach of any driver. But how much needs to be paid upfront to get a deal that works with your budget? Here’s what our Land Rover Northfield financial experts have to say on the subject to help you make the right decision — and to get you behind the wheel of a Land Rover SUV.
Why Down Payments Matter
For our financial partners, a sufficiently high down payment can make a huge difference in the terms of the Land Rover financing package you may qualify for. Figures as varied and important as the loan term, interest rate, and monthly payments may vary greatly according to how much can be paid upfront, as they are a good indicator of future earning potential and represent a reliable stake for the value of your vehicle.
Calculating a Down Payment
So how much should you plan to spend on a down payment for your new or pre-owned Land Rover vehicle? The general rule is that your down payment should be as much as you can afford, ideally around 20% of the cost of a vehicle, and it’s generally inadvisable to offer less than 10% of the value. Naturally, factors such as employment status and credit history may obviate the need for a higher down payment, so check your finances carefully to be prepared.
Apply for Land Rover Financing in Northfield, IL
With a little careful planning and some basic financial information, securing competitive Land Rover financing is a simple and convenient process. Contact Land Rover Northfield today to inquire about current national or regional Land Rover finance promotions or to schedule a test drive at our dealership!