A down payment isn’t always required, but it’s generally a smart move. Putting money down reduces the amount you’ll need to borrow, which can lower your monthly payments and reduce the total interest paid over the life of the loan. At People Driven Credit Union, we offer 100% financing for new cars (5 years old or newer). For used cars (older than 5 years), we’ll finance up to 80% of the vehicle’s value (LTV).
