Dear Terry, How does the down payment work when you apply for a loan from your credit union? -- ChantaDear Chanta, It works just like any other loan. You pay the down payment to whoever is selling you the car and cover the rest of the cost with a check from your credit union. Here are this week's reader questions:•$100 fill-up coming to pump near you•Do I have to pay taxes on a car I'm using overseas?•How can a co-signer protect his rights?•Do down payments differ at credit unions?If you have a question for Terry, e-mail him at Driving for Dollars. Save money on your car -- sign up for Bankrate's new weekend Car & Money newsletterRead more Driving for Dollars columnsAsk a question advertisementRelated Links:7 best off-to-college carsNational auto loan averagesWhat changes auto loan rates?Related Articles:All new cars for 20105 steps to 'clunker' dealTake the 'cash back?'
Dear Terry, How does the down payment work when you apply for a loan from your credit union? -- Chanta
Dear Chanta, It works just like any other loan. You pay the down payment to whoever is selling you the car and cover the rest of the cost with a check from your credit union.
If you have a question for Terry, e-mail him at Driving for Dollars. Save money on your car -- sign up for Bankrate's new weekend Car & Money newsletter
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