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The total cost of the vehicle.
A down payment is an initial, upfront payment you make toward the total cost of the vehicle. Your down payment could be cash, the value of a trade-in, or both. The more you put down, the less you need to borrow. A larger down payment may also reduce your monthly payment and your total cost of financing.
This is the length of your auto loan, generally expressed in months. A shorter loan term (in which you make monthly payments for fewer months) will reduce your total loan cost. A longer loan can reduce your monthly payment, but you pay more interest over the life of the loan. A longer loan also puts you at risk for negative equity, which is when you owe more on the vehicle than the vehicle is worth.