Hey, I'm posting this for a friend of mine who is looking for someone to take over payments of his 2001 type r. #1058
Car is all stock. 60k.
Call him for more info (562)397-9343

 

...

 

How much more is left to pay on the car. Let me know.

 

black? yellow?

 

Car is black with gunmetal rims.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by 99 TYPE R &raquo;</TD></TR><TR><TD CLASS="quote">How much more is left to pay on the car. Let me know.</TD></TR></TABLE> ?

how much is he looking for ?

 

Will taking over payments involve buying the remainder, and then financing that personally, or will we be paying the existing lease/loan? Is it a lease or a loan? Ammount remaining on the purchase? Ammount he will charge to take over lease/loan if any? Method of transport to east coast?
LMK

 

his car payments are kinda high only because he got the car with no money down, and got a high intrest rate.....he is just looking 4 someone to refinance the car in their name and take over payments. he is not looking for any money only to get the car off his hands because he can not afford anymore. if you want any more info CALL 562 397 9343 and he will let you know anything that you have to ask.
Thanks.

 

sounds kinda fishy to me.... why wouldn't he want any money for it? how long has he been paying for it anyway?

 

He has had the car for one year and has all paper work. He just can't afford the payments. He is also going back to school. Give him a call. He will tell you all the details.

 

well if he doesnt owe more than its worth, it whould be much easier to just sell the car

how much does he owe on the car

if the car is in good condition he could easily sell it for $17,000
and he could sell it really fast for like $15,500-$16,000

for someone to do what your asking whould be hard, they whould need to get a loan for the amount of the payoff, send it to the lean holder, have the title sent to the new holder, and of course draw up a bill of sale etc, it whould just be easier and faster to sell straght up

 

someone called him and post the details here.

 

There is another factor that you need to look at when making payments on a car. As a "general" rule of thumb, when making payments, the first 12 months is going to go straight to paying off the interest on the loan. Now since you mentioned that your buddy has a high interest rate for reasons that are irrelivent, he is more than likely going to be paying 16 months of interest or 18 months of interest, pending on his interest rate. Also, since there was no money down and no trade in, he is going to be making a high monthly payment which you idicated.

So say he bought the car for $17,000 with a high interest rate of 20%. This would mean that his loan would be about 20,500 (give or take a few hundred). Divide by the longest term you can get which is what? 72 months? So 72 into $20500 is $284.00. Now lets take $284.00 and times that by 12: $3416.00.

So on a $17,000 car means he has only paid the interest on the loan and is now going to start chipping away at what he owes to the bank. This means that anyone who buys it would basicly be buying a car for $17,000.00. The only way this can remotely be a good deal to a new buyer is if he made all his payments for the first year and there is no more interest to be paid on the loan. If he's expecting cash in the deal, which I think you mentioned he's not, then that would be a good thing. It would simply have to be a straight across take over of his payments which I doubt anyone would do or have it refinanced through the new buyers bank at a cheaper interest rate.

Aloha,
Brandon

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by wpsadmin &raquo;</TD></TR><TR><TD CLASS="quote">someone called him and post the details here.</TD></TR></TABLE>

No, post the details in the classifieds where this should have been too.

 

Sorry I posted this here, but I was not able to post the question in the classified section due to my being a trial user. I f someone knows how to , please let me know.
And I only posted this for my friend because he don't have a computer. So if anyone has ANY questions please call him.( 562)397-9343 Ask for David.

 

no one is going to take over the hi payments and hi interest rate. now if someone gets financed thru their bank enuff to pay off his loan what will happen is whent he buyer gets the check from the bank, the owenr will pay his finance company off and get the title, then it will need to be tranferred to the new owners bank until they pay it off. .. Been there and done that

 

Hey I just spoke to the seller and loan is for 20-21k........just to let you know.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by russianbigmac &raquo;</TD></TR><TR><TD CLASS="quote">Hey I just spoke to the seller and loan is for 20-21k........just to let you know. </TD></TR></TABLE>

w/60,000

 

WOW. good luck dude. i think its gonna be tuff

 

I am also trying to sell my ITR. 01 #1102 w/ 44k miles. PY. I am asking 16,500 obo. Insurance is killing me. Mostly stock, if you have any questions please call me or write me an email. 850-582-5838, chickenhive@yahoo.com. Sorry, i'll also post in classifieds.

I am located in FL. Thanx.

Skye