Dow payment pre qualification approval

Asked by Sabrina Jan 27, 2020 at 09:52 PM

Question type: Shopping & Pricing

Why does my pre qualified
application say I need $21k
down payment on a $41k to be
able to finance it with Westlake
financial? Why cant I put a
normal down payment like $2k
and still get pre approved for
the $41k financing approval???

2 Answers

F_O_R answered 4 years ago

Probably because your income is insufficient and/or your creditsucks. Ask Westlake for more information.

Mark helpful

F_O_R answered 4 years ago

A "normal" down payment might be 20%, not 5%. A 5 year loan on 40 grand with top flight credit and interest will mean payments of well over $700 a month.

Mark helpful

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