Shopping for a Lexus L/Certified Vehicle can be exhilarating, but you also need to consider your initial payment. In particular, you’ll want to know how much you should put down on a vehicle at signing. Keyes Lexus makes calculating your down payment on an L/Certified vehicle a breeze; see how you can estimate your initial money down.
What Is a Down Payment?
Simply put, a down payment is a percentage of your financing costs given to our dealership when you purchase or lease the vehicle. This payment is often flexible considering your financial situation and is a one-time payment applied when you sign the paperwork. It’s a way to show your commitment to the vehicle and secure better monthly payments.
What Should My Down Payment Be?
You should put down at least 20% of the buying price on your vehicle at signing. That will help reduce your monthly payment and lower your overall principal significantly. If you can afford it, we recommend putting even more money down.
Calculating the Effect of Down Payments
Your down payment doesn’t just give you a better bargaining position when you finance a Lexus L/Certified vehicle. It also lowers the principal you have left to pay, which means monthly payments and interest accrual will be reduced over the loan’s term. Also, it helps you protect against depreciation by helping you invest more towards the car’s residual value.
Browse Lexus L/Certified Payment Plans in Van Nuys, CA
Whether you plan to lease or finance a Lexus L/Certified vehicle, it pays to have our experts on standby. Contact Keyes Lexus today to learn more about Lexus financing and calculate your potential down payment.
