Hear me out Just got in December into 2010 Honda pilot I love the car buthings have changed. The payments just are too high for me. So I'm looking to downsize. The plan Is to make a ful year payment see where I'm at then trade it in for used car.
I need some advice on the situation Looking for 07 08 under 35000 miles used sedan with all Wheel drive!
(Due to the winter in NYC ) maybe a truck if worth it due to the damn potholes in this city. But thinkung a sedan that handles well in bad weather.
Trying to keep budget to 25 gs tops. Trying to keep budget to 25 gs tops Was thinking save up 5 to 7 k for down payment by next summer then go to a used dealer. Maybe a g35x or Audi 4 used quattro. No kids and no wife would love camaro butnot worth it in the city. I need something that will last in this city.
Any advice on what to get and when to trade in?? Thanx
I need some advice on the situation Looking for 07 08 under 35000 miles used sedan with all Wheel drive!
(Due to the winter in NYC ) maybe a truck if worth it due to the damn potholes in this city. But thinkung a sedan that handles well in bad weather.
Trying to keep budget to 25 gs tops. Trying to keep budget to 25 gs tops Was thinking save up 5 to 7 k for down payment by next summer then go to a used dealer. Maybe a g35x or Audi 4 used quattro. No kids and no wife would love camaro butnot worth it in the city. I need something that will last in this city.
Any advice on what to get and when to trade in?? Thanx
Registered User
If you trade the Pilot in then you'll be right back to where you started with high monthly payments. Trading in an unpaid car means you'll get less value in return while adding more to the loan amount, and usually with a higher interest rate.
Selling the car outright would be the wiser way of doing it. Not many people know this, but you can actually sell a car even if you haven't fully paid it off. Do a search on google for loan payoff amount to learn more about it.
If you go this route, you either end up owing nothing or be $1000-$2000 short depending on how much you owe and the current going value of the car. This gives you the chance to start with a clean record. The loan will clear your credit report within 3 months, and if you're willing to wait for the loan to clear, you should be able to get a better APR compared to doing a straight trade in.
Hope this helps.
Selling the car outright would be the wiser way of doing it. Not many people know this, but you can actually sell a car even if you haven't fully paid it off. Do a search on google for loan payoff amount to learn more about it.
If you go this route, you either end up owing nothing or be $1000-$2000 short depending on how much you owe and the current going value of the car. This gives you the chance to start with a clean record. The loan will clear your credit report within 3 months, and if you're willing to wait for the loan to clear, you should be able to get a better APR compared to doing a straight trade in.
Hope this helps.
Registered User
Good luck with selling the car outright if you don't own it.
Say you're the person buying his car. You would have to give him your money, have him send the payoff amount to the financier and finally get the car like a week to 2 weeks later after the payment has cleared, no thanx. Its a lot of hoops to jump through, Ive looked into it before. The average person isnt willing to pay for a car and not get it the same day
Say you're the person buying his car. You would have to give him your money, have him send the payoff amount to the financier and finally get the car like a week to 2 weeks later after the payment has cleared, no thanx. Its a lot of hoops to jump through, Ive looked into it before. The average person isnt willing to pay for a car and not get it the same day
Registered User
I've done it a couple times for myself and some of my friends and family. It's not hard to do. Only thing required is a lot of common sense.
I would assume no buyer is willing to shell out the money and wait for the payment to clear before going home with the car. You have to work out a collateral plan with them.
It's pretty simple but you gotta make sure you explain the situation well with the buyer. It's very important to be on the same page with this type of transaction.
Step 1. Have all the paperwork ready. Bill of Sale (w/ Sold As Is), DMV Bill of Sale, Make copies of both buyer and seller's driver's license, copy of Registration for yourself
Step 2. Keep the car insured! This is for your own protection.
Step 3. They give you the money and you hand them the car. It would be wise to only take cash or certified check/money order.
Step 4. Mail the payment for the payoff amount and wait for it to process.
Step 5. Arrange to meet with the buyer when you receive the title and then finalize the sale.
Step 6. Fill out a release of liability form and turn it in to the DMV.
That pretty much sums it up. Not much different from selling a car with title in hand. However, like I said, not many people know you can sell an unpaid car, so I don't expect a lot of people to know how to go about it.
I would assume no buyer is willing to shell out the money and wait for the payment to clear before going home with the car. You have to work out a collateral plan with them.
It's pretty simple but you gotta make sure you explain the situation well with the buyer. It's very important to be on the same page with this type of transaction.
Step 1. Have all the paperwork ready. Bill of Sale (w/ Sold As Is), DMV Bill of Sale, Make copies of both buyer and seller's driver's license, copy of Registration for yourself
Step 2. Keep the car insured! This is for your own protection.
Step 3. They give you the money and you hand them the car. It would be wise to only take cash or certified check/money order.
Step 4. Mail the payment for the payoff amount and wait for it to process.
Step 5. Arrange to meet with the buyer when you receive the title and then finalize the sale.
Step 6. Fill out a release of liability form and turn it in to the DMV.
That pretty much sums it up. Not much different from selling a car with title in hand. However, like I said, not many people know you can sell an unpaid car, so I don't expect a lot of people to know how to go about it.
Registered User
Quote:
Say you're the person buying his car. You would have to give him your money, have him send the payoff amount to the financier and finally get the car like a week to 2 weeks later after the payment has cleared, no thanx. Its a lot of hoops to jump through, Ive looked into it before. The average person isnt willing to pay for a car and not get it the same day
It's not the big problem you make it out to be. We recently sold my girl's Mazda 3 and an out of town bank had the title. Buyer came over with a certified check, drove the car, signed a bill of sale and took the car. We mailed the title to them a week later. Not much to it....Originally Posted by G2FLIP4
Good luck with selling the car outright if you don't own it.Say you're the person buying his car. You would have to give him your money, have him send the payoff amount to the financier and finally get the car like a week to 2 weeks later after the payment has cleared, no thanx. Its a lot of hoops to jump through, Ive looked into it before. The average person isnt willing to pay for a car and not get it the same day
Registered User
Quote:
Too many dishonest a$$holes out there... I went thru the same thing when I bought a used GSX-R. After a year of trying to track the a$$clown who I bought it from I had to jump thru hoops with the DMV in order to get a title issued in my name. NEVER AGAIN!!! I buy a vehicle, I want the title in my hand when I put money in your hand. Thats just my take on it.Originally Posted by scrapiron7
It's not the big problem you make it out to be. We recently sold my girl's Mazda 3 and an out of town bank had the title. Buyer came over with a certified check, drove the car, signed a bill of sale and took the car. We mailed the title to them a week later. Not much to it....
Registered User
^ Sounds like you got too excited when your purchased the bike. If something seems iffy, then it probably is. You can tell if the buyer/seller is being honest or not when you talk to them in person.
Only reason shi*t should go bad is if one didn't do enough preparation for the sale.
Only reason shi*t should go bad is if one didn't do enough preparation for the sale.