Sell car with part of payment pending?

kmarei · 10-04-2011, 07:46 PM

Quote:

Originally Posted by rantarM3

No sales tax credit is lame!

Worst case you can always go to CarMax to unload the car.

I'd you're going to car max
You better lube up first
Cuz you know what they are going to do to you

I once went with my wife's RAV-4
They said it was in an accident (BS) and they'll offer 7000
We TRADED IT in for 9500
And another time I went with my late boss's 911S cabrio
They offered $35000
Sold the car for $46500

Rich150001 · 10-04-2011, 07:51 PM

Quote:

Originally Posted by rantarM3

No sales tax credit is lame!

Worst case you can always go to CarMax to unload the car.

I'm still looking for a used one local with the color combo I want but if you decide to trade in, let me know first.

kmarei · 10-04-2011, 07:56 PM

Quote:

Originally Posted by Rich150001

I'm still looking for a used one local with the color combo I want but if you decide to trade in, let me know first.

Last I checked
I have the lowest asking price foe a coupe with valid warranty on eBay, cars.com, or auto trader
So I won't trade it in for 35-37
I'll just wait till I can find someone who will pay 41 or close to that
I know I'll find someone
And now with the 2012s being delayed to at least October 15th
I can afford to wait at least another month

kmarei · 10-04-2011, 07:57 PM

Quote:

Originally Posted by Rich150001

I'm still looking for a used one local with the color combo I want but if you decide to trade in, let me know first.

Speaking of which
What colour combo do you want?

M3PO · 10-04-2011, 08:18 PM

I know this may not help now but here's what I did.

The seller and I agreed on $40K. I had $20K in cash and needed to get $20K from Bank of America via a private party auto loan (pain in the ass). BofA wouldn't fund the loan until they had the signed title, bill of sale, and signed forms to transfer the registration. The seller was understandably reluctant to sign over the title without the full $40K. What we ended up doing was I gave him the $20K that I had and he gave me the keys (no way for it to be driven), the signed title, and the rest of the documents that I needed to finish the loan. When BofA gave me the remaining $20K, I picked up the car.

eisenb11 · 10-04-2011, 10:22 PM

Quote:

Originally Posted by M3PO

I know this may not help now but here's what I did.

The seller and I agreed on $40K. I had $20K in cash and needed to get $20K from Bank of America via a private party auto loan (pain in the ass). BofA wouldn't fund the loan until they had the signed title, bill of sale, and signed forms to transfer the registration. The seller was understandably reluctant to sign over the title without the full $40K. What we ended up doing was I gave him the $20K that I had and he gave me the keys (no way for it to be driven), the signed title, and the rest of the documents that I needed to finish the loan. When BofA gave me the remaining $20K, I picked up the car.

Another thing you could have done was gone to BoA and got the loan together.

That's what I did last week. The buyer had me meet her at the bank. I gave the title to the loan officer, she gave her down payment to the loan officer, he processed the loan and all of the paperwork, then he deposited all of the money into my account - was really easy and painless

menomo · 10-04-2011, 10:26 PM

let the $1000 go. what if he thinks twice and doesn't end up buying. what if you get into an accident. what if someone hits you or it's gets jacked. just sell it now and walk away!

M3PO · 10-04-2011, 10:30 PM

Quote:

Originally Posted by eisenb11

Another thing you could have done was gone to BoA and got the loan together.

That's what I did last week. The buyer had me meet her at the bank. I gave the title to the loan officer, she gave her down payment to the loan officer, he processed the loan and all of the paperwork, then he deposited all of the money into my account - was really easy and painless

Wow, it was a three week long fiasco/headache for me. I didn't even know that was an option. Was that at BofA? They did it right then and there, that day? There was a lot of paperwork and processing required and it took a lot of time when I did it. I initially went to a branch, filled out the application, and got approved. Then they sent me a bunch of paperwork a few days later that we both had to sign and get notarized in addition to needing the signed title. All of that got sent in and they funded the loan a few days later.

positiveions · 10-04-2011, 10:56 PM

i know this might sound impossible, but, worse come scenario, you can keep both until you sell the '08. OORRR you can drop your car off and i"ll keep an eye on it for you

eisenb11 · 10-05-2011, 12:35 AM

Quote:

Originally Posted by M3PO

Wow, it was a three week long fiasco/headache for me. I didn't even know that was an option. Was that at BofA? They did it right then and there, that day? There was a lot of paperwork and processing required and it took a lot of time when I did it. I initially went to a branch, filled out the application, and got approved. Then they sent me a bunch of paperwork a few days later that we both had to sign and get notarized in addition to needing the signed title. All of that got sent in and they funded the loan a few days later.

It was at a credit union, Kinecta... sounds like BoA may be too slow to pull this off. Everything was done then and there. There was a lot of paperwork and signing for the both of us - took about 2 hours total and I was immediately funded when it was done. The new owner of my car was nice enough to give me a ride home afterwards! lol

Rmitchell248 · 10-12-2011, 04:05 PM

I would sell the Car to the guy and just hope he pays the 1000 later. If not, just forget it as you are getting a quick sale at the right time. And 1000 off asking price is never a bad deal when selling the used car. chances are he will pay you any how.

Another thing he can do is write you a check for the 1000 with a later date.

Dont miss the sale over 1000. Unless you only asking 3000 for the car lol.

Rich150001 · 10-17-2011, 07:34 PM

Quote:

Originally Posted by kmarei

Speaking of which
What colour combo do you want?

White, Blue, or Space Gray.

ajvee · 10-18-2011, 10:55 PM

Here is a thought.

Assuming he has a paypal account. He can transfer $1000 to you with his credit card and that way you have the cash and he can use the $1000 he makes the next month to pay off his credit card. Perhaps you can be flexible on the 3% fees.

10-04-2011, 08:18 PM	#27
M3PO Colonel 84 Rep 2,792 Posts Drives: '08 IB E92 Join Date: Sep 2011 Location: OC iTrader: (7)	I know this may not help now but here's what I did. The seller and I agreed on $40K. I had $20K in cash and needed to get $20K from Bank of America via a private party auto loan (pain in the ass). BofA wouldn't fund the loan until they had the signed title, bill of sale, and signed forms to transfer the registration. The seller was understandably reluctant to sign over the title without the full $40K. What we ended up doing was I gave him the $20K that I had and he gave me the keys (no way for it to be driven), the signed title, and the rest of the documents that I needed to finish the loan. When BofA gave me the remaining $20K, I picked up the car.
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10-04-2011, 10:26 PM	#29
menomo Private 0 Rep 51 Posts Drives: the new M3 Join Date: Sep 2011 Location: Heaven iTrader: (0)	let the $1000 go. what if he thinks twice and doesn't end up buying. what if you get into an accident. what if someone hits you or it's gets jacked. just sell it now and walk away!
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10-04-2011, 10:56 PM	#31
positiveions Lieutenant General 961 Rep 11,722 Posts Drives: 19 Tacoma, 16 Golf wagon Join Date: Sep 2007 Location: Upland, CA iTrader: (2) Garage List 2019 Toyota Tacoma [0.00] 2016 VW Golf Sports ... [0.00] 1998 BMW M3 [0.00] 1990 BMW 325is [0.00]	i know this might sound impossible, but, worse come scenario, you can keep both until you sell the '08. OORRR you can drop your car off and i"ll keep an eye on it for you
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10-12-2011, 04:05 PM	#33
Rmitchell248 Private 2 Rep 59 Posts Drives: M3 Join Date: Apr 2011 Location: Germany iTrader: (0)	I would sell the Car to the guy and just hope he pays the 1000 later. If not, just forget it as you are getting a quick sale at the right time. And 1000 off asking price is never a bad deal when selling the used car. chances are he will pay you any how. Another thing he can do is write you a check for the 1000 with a later date. Dont miss the sale over 1000. Unless you only asking 3000 for the car lol.
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10-18-2011, 10:55 PM	#35
ajvee Major 119 Rep 1,451 Posts Drives: None Join Date: Sep 2009 Location: None iTrader: (13)	Here is a thought. Assuming he has a paypal account. He can transfer $1000 to you with his credit card and that way you have the cash and he can use the $1000 he makes the next month to pay off his credit card. Perhaps you can be flexible on the 3% fees.
	Appreciate 0 Quote