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I have a question about purchasing a car that is obviously upside down right now for its owner. I will first post parts of his email for your enjoyment/education: Upside Down Man posted:I'll show you all the paperwork. And I'm selling it below KBB...they're rare,they sale good and they LAST longer. I've never had any problems with mine whatsoever. I've always done preventive maintenance so I won't have to deal with problems.I still owe 16K on it and I will have 3000K to cover up myself with the bank. So first, he's trying to sell a car for well over the KBB value. With the mileage he has on the car, he really should be selling this car at around 10k. (he's trying to sell for 13999) So, he's about 6000 under this loan, and as a result, doesn't even hold the title to the car. That being said, here is the other kicker: quote:The only reason I'm selling it is that my wife can't drive manual and we're fighting non-stop :-) I have a 14 months daughter and a one month old baby. I need and SUV. I HATE selling it after I put all this money into it,water pump,rotors,FULL colling system,belts,brakes..but I don't have a choice. I need an bigger car more room...something like a Q7. I have no idea how negotiable this guy will be on the price of his car. Is this just a situation I should immediately walk away from regardless of the financials and price involved or is even attempting to negotiate a lower deal worth it for me? I have no real experience purchasing a car off a guy who's upside down, so any advice would be appreciated.
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Nov 1, 2010 18:59
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| # ¿ Apr 28, 2024 19:54 |
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CornHolio posted:He's upside-down on the car, and wants to sell it to get a GIANT HONKIN SUV because his two kids won't fit into whatever he has now? He's trying to sell a 330i ZHP. Leperflesh posted:Why not find the same car owned outright by someone, so when you make a lower offer, they are actually free to consider it? I'm more than likely going to do this. I was just wondering how the entire process worked - would I need to go to the Bank with him in order to make actually get the title? Are there additional fees associated with this process?
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Nov 1, 2010 19:52
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