You could put down even less, if you want, or buy a car with no down payment, but the fees and rates are higher.
If you can, wait several months before you buy your car so that you can save up for the down payment.
Use that time to boost your credit score, so that auto dealers may be more willing to lower their rates.
What credit score do you need to buy a car with no money down?
Purchasing a car with no money down might sound too good to be true, but many dealers, banks, and credit unions allow you to do that just. All you need is good credit and verification that you earn enough to pay back the loan. In general, you’ll need a FICO score of at least 700 to qualify.
What to do if you need a car but have no money?
No money down car loans with lower APRs are typically offered to borrowers with good credit (700 and above). To get the best deal on no money down car financing if you don’t have good credit you must shop around, negotiate, get a good price for the car and potentially use your trade-in if you have one.