No, Aim for 10% Down on Your 2020 Mazda CX-3
You do not need 20% down on a used 2020 Mazda CX-3 loan. Most buyers get a solid rate and safe payments with 10% down. This keeps more cash in your pocket for fees, taxes, or emergencies.
Used 2020 CX-3 prices hold steady better than new cars. New cars lose value fast in year one. A fair price for a clean 2020 CX-3 sits around $18,000. With 10% down, you pay $1,800 upfront. You finance $16,200. At 7% APR over 60 months, your monthly payment hits $321. Bump to 20% down, and you pay $3,600 upfront. Finance $14,400. Payment drops to $285. You save $36 a month.
That extra $1,800 upfront cuts total interest by about $360 over five years. With 10% down, interest totals $3,060. At 20%, it falls to $2,700. Keep cash liquid if it matters more than small savings.
Lenders like loan-to-value ratios at 90% or lower. 10% down hits that mark. It cuts risk of negative equity. The 2020 CX-3 passed its big depreciation hit. Stick to the plan, and equity stays positive.
When 20% Down Fits Better
Put 20% down if:
- High credit bumps your APR. More down lowers it.
- You need payments below the 10% down level.
- You drive high miles or rough roads. Build extra equity.
- Trade-in equity pushes you to 20% without fresh cash.
Cost Comparison
| Down Payment | Cash Down | Loan Amount | Monthly Payment (7% / 60 mo) | Total Interest |
|---|---|---|---|---|
| 10% | $1,800 | $16,200 | $321 | $3,060 |
| 20% | $3,600 | $14,400 | $285 | $2,700 |
Tips to Pick Your Down Payment
- Start at 10% down. Add more only to cut a high APR or meet payment goals.
- Count trade-in equity toward down payment.
- Budget $1,500 to $2,000 for taxes and fees. Pay cash if possible. Skip rolling them in.
- Pick 36- to 60-month terms. Longer ones boost interest and equity risk.
- Keep car payments at 10% to 15% of take-home pay.
- Get preapproved at a bank or credit union. Make the dealer match or beat it.
- Save 3 to 6 months of expenses in your emergency fund. Do not touch it.
10% down hits the sweet spot for most on a used 2020 Mazda CX-3. Sidekick runs payment, rate, and equity models to help you nail the right down payment.