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20% Down on New Cars

When buying a new or used car from a dealer, make a down payment of at least 20%. That will be a enough to cover taxes and most of the vehicles first year depreciation. Dealerships will gladly sell you a car with less down, but that will leave you with an upside down loan for years. An upside down loans means you owe more than the car is worth.

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By Fisher

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Consumer Advice Cars Buying a CarSeptember 29, 2006
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