promotion image of download ymail app
Promoted

What's the difference between an $8,000 loan with zero down and a $16,000 loan with $8,000 down?

9 Answers

Relevance
  • 2 months ago

     I am here to testify about how i used blank ATM card to make money and also have my own business today. Go get your blank ATM card today and be among the lucky ones. This PROGRAMMED blank ATM card is capable of hacking into any ATM machine, anywhere in the world. It has really changed my life for good and now i can say am rich and can never be poor again. You can withdraw the maximum of $ 15,000 daily i can proudly say my business is doing fine and i have up to 30,000 000 (10 millions dollars in our account) Is not illegal, there is no risk of being caught, because it has been programmed in such a way that it is not traceable, it also has a technique that makes it impossible for the CCTV to detect you..For details and cost on how to get yours today, email the hackers on: blankatmcard0@gmail.com or whatsapp:+15852133044 to get your card...

    Attachment image
    • Commenter avatarLogin to reply the answers
  • n2mama
    Lv 7
    2 months ago

    I’m not sure I understand what you’re asking. In the first situation you have a total of 8,000 to spend (8,000 loan + 0 down payment). In the second situation you have a total of 24,000 to spend (16,000 loan + 8,000 down payment). The loan amounts are not the same, and in the second scenario you have three times as much total to spend.

  • 2 months ago

    The interest rate that goes with each one.

    • Commenter avatarLogin to reply the answers
  • 2 months ago

    The first is unsecured and the second is secured - by the down payment. If you default on the first before making a single payment, you have lost no money (yet). If you default on the second before making a single payment, you lose $8,000 (+)

    After that, there is no difference, as long as the interest rate and other terms are the same for both.

    • SumDude
      Lv 7
      1 month agoReport

      {The question is odd/ambivalent.}  "Secured"? There is no loss of $8,000 if you pocket the $8,000 the lender advanced you. 

    • Commenter avatarLogin to reply the answers
  • How do you think about the answers? You can sign in to vote the answer.
  • 2 months ago

    The loan is the same, who knows about the interest rate. Some of the closing costs might be based on the asset value (like transfer taxes, if they came into play) and thus be different.

    • Commenter avatarLogin to reply the answers
  • 2 months ago

    Confusion. You do not pay money down when you get a loan. Any loan origination fee would be part of the loan generally speaking.

    • ...Show all comments
    • SumDude
      Lv 7
      1 month agoReport

      Do not tell an accountant he is wrong. The down payment on a car goes toward the value of the car, and then you finance the rest. $2000 down on a $20,000 car means you immediately own 10% of the car. You DID NOT pay $2,000 to borrow $20,000.

    • Commenter avatarLogin to reply the answers
  • Anonymous
    2 months ago

    The 2nd one protects the lender more.

    People who buy a car with zero down often do not hesitate to stop making payments if the motor or transmission goes out.

    With $8000 down, the car is better and less likely to die before most or all of the loan is paid.

    • Commenter avatarLogin to reply the answers
  • danxp2
    Lv 6
    2 months ago

    Possibly interest rates are different.

    • Commenter avatarLogin to reply the answers
  • 2 months ago

    Since you are putting money down it appears you are buying something (a car?)

    Option 1 - no equity; can only buy a $8000 car

    Option 2 - 50% equity from Day #1 and you have a $16000 car.

    • ...Show all comments
    • SumDude
      Lv 7
      1 month agoReport

      Money DOWN is equity. Your Q makes it sound like you are giving a bank $8,000 so that the bank will give you $16,000. 

    • Commenter avatarLogin to reply the answers
Still have questions? Get your answers by asking now.