Originally Posted by PikkaGTR
just tell them how much you need and how much you are applying for
shouldn't matter what kinda car you're buying
Uhhhh yes it does. The car loan is secured by the car. They aren't going to do a loan for 20k on a car that is worth (according to the book) 16,500. That would be a stupid move on their part considering they will lose thousands if the debtor doesn't pay the note.
Depending on bank and credit, they will do a 100% loan on the book value of the car, but you may not qualify for 100% either.
It's best to save up money for a downpayment anyways, saves you some money in the end.