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Car (Vehicle) Down Payment Receipt Template

A car (vehicle) down payment receipt is a written record of the initial payment towards the purchase of a vehicle. A down payment is a percentage of the total amount of the vehicle and is only made after a purchase contract has been agreed upon. Buyers should request a down payment receipt for their records.
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How Much ($) Should a Down Payment be?

Traditional loans that offer the lowest interest rates require a downpayment of at least 20% of the vehicle’s purchase price. A 2019 Edmunds study showed that the average car buyer paid 11.7% for new and used vehicle purchases. Therefore, finding the best car financing often depends on the availability of credit based on the buyer and the current market conditions.