[nismo200]

This is a serious question guys. I need all the opinions i can get. My friend is tryin to seel his 1997 SE-R for about $5500-6000. The only thing is there are payments left on the care. Near $7000 which makes the car what its worth with the cheap price, but with payments left. Would anyone go for that or what? Help me out guys...Thanks.

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Enjoy the ride...

 

[Mike sr20de]

He owes 7000, but he is trying to sell for 6000? Does he need to get rid of it that bad? I would just keep it until I payed it down then sell it.

 

[Guest]

yeah i would say hes upside down a little bit

 

[Mike sr20de]

Heck no. well it does depend on the milage and condition of the car. What I was saying is not to turn out upside down. If he sells the car for 6000 and he owes 7000, then he will be -1000. if he sells the car he will have no car and still owe 1000. I would keep the car, till I only owe 6000 then sell it for 6000.
Why would anybody want to sell an se-r anyways?

 

[Mike sr20de]

Sorry, double post.

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The dirty rain falls in funky town
95ser W/s3,place race CAI,header,catback,JWT ECU,short throw,17" shoguns,kyb,pro lines,strut tower, yadda,yadda...

[This message has been edited by Mike sr20de (edited 06-20-2001).]

 

[nismo200]

I dont think he will turn upside down...Cause he would get the 6000 and the buyer would pay the 7000 left on the car.

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Enjoy the ride...

 

[nx2kPA]

<font face="Verdana, Arial" size="2">Originally posted by nismo200:
I dont think he will turn upside down...Cause he would get the 6000 and the buyer would pay the 7000 left on the car.

</font>

Since it seems you have everyone from here to Japan confused, let me try to help.

Are you saying he is asking $7000 plus $5500-$6000 (for a grand total of about $13,000)for the car? If you are then that is way too much. Book value for that car is around $10,000 I believe.

The buyer does not pay off his loan...When you sell a car that you have a loan on you keep the loan, which means whatever money you receive from the buyer pays off the loan and the extra money is yours to keep.

If the car is in decent shape he should sell it for book value, pay off the loan, and keep the amount left over.

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-----------Josh
'93 NX2000
not quite stock

[This message has been edited by nx2kPA (edited 06-20-2001).]

 

[Mike sr20de]

That is how i see it.

 

[nismo200]

You think he should go lower price or what?