Submitted by This_Neighborhood511 t3_10q9151 in personalfinance
TeflonShawn42069 t1_j6okwwm wrote
The down payment doesn't get credited to your loan because it was never part of the loan. You only borrow the part you don't pay up front for.
For example let's say a car costs $10,000 and you put $2,000 down.
Your loan will be for $8,000. The down payment goes directly to the purchase price it's never part of the financing.
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