Posted by Stacy (AZ) on February 21, 1999 at 15:28:18:
The approach I would take would be to ask him to allow you to make the $3K downpayment over time. Ask him if he would be willing to allow you 24 months to pay the downpayment, at zero percent interest. Negotiate from there if he won’t accept that. Would he be willing to go 12 months? Or 6% interest only payments with a balloon at 24 months? How about 12% interest only with a balloon in 12 months? Negotiate. If you can come-up with at least two scenarios to present to him, and allow him to pick which one he wants, your chances are better. Of course one of those options could be zero down.