You are currently viewing our forum as a guest, which gives you limited access to view most discussions and access our other features. By joining our community, at no cost, you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is free, fast and simple, so please join our community today!
Way back when when I first picked up my z (~6 months ago ), I hadn't looked at prices etc, and wound up paying a stupid amount for it. I put it on a local site, similar to craigslist, just to see if anyone would be interested in taking over the payments. Had a guy email me from out of province, and he says he's pretty interested and coming down to my city the coming weekend, and he may be able to take it home with him, depending on the paperwork. This seems super to me, as I could get out of my stupid financial situation with this, and hop into a TT or 07/08 come spring, for waaay less. My concern is transferring the loan etc, and having this guy complain a little ways down the road the car is a piece, etc. despite being babied, and i get screwed back with it.
What do you guys think? its only a stock 03 btw
__________________
Quote:
Originally Posted by 2004Black350z
well if u did go to the cow and she said moooo moooo mooo which means iv sold 80 other glasses of milk and u r the only whiny b1tch coming back complaining i would make u prove it also
well if u did go to the cow and she said moooo moooo mooo which means iv sold 80 other glasses of milk and u r the only whiny b1tch coming back complaining i would make u prove it also
well if u did go to the cow and she said moooo moooo mooo which means iv sold 80 other glasses of milk and u r the only whiny b1tch coming back complaining i would make u prove it also
That guy is going to have to have an awfully good credit rating. If I understand what you said, you have had the Z for 6 months. The total amount of the loan in the beginning was $29900. You have paid approximately $2990 leaving a loan balance of $26910.00. I suspect he is going to have to have a pretty big down payment in order to get the loan on a car that is now 6 years old. Banks usually don't let people "take over the payments". They want to start a new loan for the new customer. Trust me, they make a lot more money doing it that way.
What does taking over your payments have to do with him buying the car from you? How much is your payoff?
__________________
Quote:
Originally Posted by solidfish
Hey scott. Thanks for the ride by the way. Your car and driving is sick. Literally, I was sick. It was like riding a mad rollercoaster. The car turns like its on rails. And the braking was unreal. So many times I thought we were going to fly off the track. Absolutely nuts, but it was great fun.
Way back when when I first picked up my z (~6 months ago ), I hadn't looked at prices etc, and wound up paying a stupid amount for it. I put it on a local site, similar to craigslist, just to see if anyone would be interested in taking over the payments. Had a guy email me from out of province, and he says he's pretty interested and coming down to my city the coming weekend, and he may be able to take it home with him, depending on the paperwork. This seems super to me, as I could get out of my stupid financial situation with this, and hop into a TT or 07/08 come spring, for waaay less. My concern is transferring the loan etc, and having this guy complain a little ways down the road the car is a piece, etc. despite being babied, and i get screwed back with it.
What do you guys think? its only a stock 03 btw
..
id say go through the bank which bank much safer sucks only other z on this forum from Sask that i know of is getting rid of his car that sucks hope you get another one
That guy is going to have to have an awfully good credit rating. If I understand what you said, you have had the Z for 6 months. The total amount of the loan in the beginning was $29900. You have paid approximately $2990 leaving a loan balance of $26910.00. I suspect he is going to have to have a pretty big down payment in order to get the loan on a car that is now 6 years old. Banks usually don't let people "take over the payments". They want to start a new loan for the new customer. Trust me, they make a lot more money doing it that way.
So the guy would have to get a loan from his bank of choice, to pay off my loan so he can get the title, etc correct?
Quote:
Originally Posted by scotts300
What does taking over your payments have to do with him buying the car from you? How much is your payoff?
I thought I could just transfer the payments to him, but after doing a little research that wouldn't work because me and the bank have an agreement, and I can't just pass it off to someone else, because the bank still has to get their money from me.
__________________
Quote:
Originally Posted by 2004Black350z
well if u did go to the cow and she said moooo moooo mooo which means iv sold 80 other glasses of milk and u r the only whiny b1tch coming back complaining i would make u prove it also
id say go through the bank which bank much safer sucks only other z on this forum from Sask that i know of is getting rid of his car that sucks hope you get another one
Hell, I might just suck it up and pay for this, who knows.
But if this does go through, in spring I will be getting another one.
__________________
Quote:
Originally Posted by 2004Black350z
well if u did go to the cow and she said moooo moooo mooo which means iv sold 80 other glasses of milk and u r the only whiny b1tch coming back complaining i would make u prove it also
the way i understand it is that he would have to either put up cash for your payoff or refinance it through the bank of his choice for the amount of your payoff...
Either way your bank has to have the payoff paid before anything is going to happen...
I bought my Z off someone who had a lien on it still. I had to get a used car loan of my own, and use that to pay the seller, and the lien-holder as well.
This guy can do just what I did. Have him take out a used car loan, possibly with the same bank that has a lien on the vehicle currently (to smooth out the transaction and deal with as few parties as possible), and have him use that loan to pay off your lien. Make sure this is all accompanied with the necessary bill of sale DMV paperwork stuff.
Once that is done, the bank who owns the Z should send him the pinkslip. If he used a loan to buy it, he'll have to register the car with the DMV as having a lien on the vehicle, and then the bank will probably require him to send the pinkslip back to them.
It's slightly complicated, and takes some time to get the pinkslip from party to party, but can work out.
You are in over your head, and plan on a TT (don't know what that is) or 07/08 (07/08 what?) next month. Spring begins in March. Sounds like a plan, but unless there is some unknown facts, its a poor plan.
"Taking over payments" is a red flag for “I owe more than the car is worth.” Besides the phrase "taking over payments" is a misnomer. The buyer will have to sit with the lien holder, and negotiate a loan. If the buyer is approved, a title will be issued in the buyers name. If the buyer is disapproved your are back to square one.
That guy is going to have to have an awfully good credit rating. If I understand what you said, you have had the Z for 6 months. The total amount of the loan in the beginning was $29900. You have paid approximately $2990 leaving a loan balance of $26910.00. I suspect he is going to have to have a pretty big down payment in order to get the loan on a car that is now 6 years old. Banks usually don't let people "take over the payments". They want to start a new loan for the new customer. Trust me, they make a lot more money doing it that way.
That is the numbers I get:
130 payments of $230 and you have paid 12 leaving 118 x $230 or $27,140. $27,140 for a 2003? How is this possible and who is going to pay $27,140 for a 2003?
Way back when when I first picked up my z (~6 months ago ), I hadn't looked at prices etc, and wound up paying a stupid amount for it. I put it on a local site, similar to craigslist, just to see if anyone would be interested in taking over the payments. Had a guy email me from out of province, and he says he's pretty interested and coming down to my city the coming weekend, and he may be able to take it home with him, depending on the paperwork. This seems super to me, as I could get out of my stupid financial situation with this, and hop into a TT or 07/08 come spring, for waaay less. My concern is transferring the loan etc, and having this guy complain a little ways down the road the car is a piece, etc. despite being babied, and i get screwed back with it.
130 payments of $230 and you have paid 12 leaving 118 x $230 or $27,140. $27,140 for a 2003? How is this possible and who is going to pay $27,140 for a 2003?
That would be the amount with interest, so that interest rate would determine how much his base loan was, OR, he could just tell us the current payoff. It's not 118 x $230.
__________________
Quote:
Originally Posted by solidfish
Hey scott. Thanks for the ride by the way. Your car and driving is sick. Literally, I was sick. It was like riding a mad rollercoaster. The car turns like its on rails. And the braking was unreal. So many times I thought we were going to fly off the track. Absolutely nuts, but it was great fun.
130 payments of $230 and you have paid 12 leaving 118 x $230 or $27,140. $27,140 for a 2003? How is this possible and who is going to pay $27,140 for a 2003?
He is from Canada cars are way more expensive here, thats why lots of us go to the US to buy cars. However it would seem he did take it in the a$$ since 4 years ago i could have got one for the same price he paid 6 months ago.
Chance to get out of ridiculous payments...
), I hadn't looked at prices etc, and wound up paying a stupid amount for it. I put it on a local site, similar to craigslist, just to see if anyone would be interested in taking over the payments. Had a guy email me from out of province, and he says he's pretty interested and coming down to my city the coming weekend, and he may be able to take it home with him, depending on the paperwork. This seems super to me, as I could get out of my stupid financial situation with this, and hop into a TT or 07/08 come spring, for waaay less. My concern is transferring the loan etc, and having this guy complain a little ways down the road the car is a piece, etc. despite being babied, and i get screwed back with it. 
