Yea or Nea

[attrapereves]

I've been thinking of selling the wife's Sonic. Based on the value, I could have $3000 left over after the loan is paid off. I would use that cash (plus a little more) to buy a Honda Civic that a friend is selling.

The payment is below $300, but it really sucks having two car payments. My wife works in town and only drives about 200mi per month.

Would you sell her car to buy something older in order to avoid a car payment? We would still have my Sonic for trips and reliability.

 

[Swordsmith]

I think it is entirely reasonable to own one good car and one paid off not horrible car.

However, I would never consider selling my GF's shiny new toy and putting her into an old junker. I do not like to sleep alone.

 

[attrapereves]

However, I would never consider selling my GF's shiny new toy and putting her into an old junker. I do not like to sleep alone.

She came up with the idea.

 

[Swordsmith]

Sounds like a win all around then, except one other thing... some say never buy a used car from a friend, if you want to keep the friend. How much do you like this friend, and how familiar are you with that particular Civic?

 

[ChrisJ]

Sell both Sonics and buy two new Sonics with 1.4s.



I'm just thinking outside the box here.......

 

[ahtoxa]

Sounds like a win all around then, except one other thing... some say never buy a used car from a friend, if you want to keep the friend. How much do you like this friend, and how familiar are you with that particular Civic?

I would advise against buying a car from friend.

 

[ChrisJ]

I would advise against buying a car from friend.

IMO you can buy from a friend, but you need to have it in your head that once you buy it, that **** is yours and if it breaks its 100% your problem.

In fact, when I have bought vehicles from family, I don't even talk about it afterwords.

As long as you do that, you're fine.

 

[ahtoxa]

Depends.

I wouldn't sell a car to a friend, because if something major were to happen to it, the seller would know anyway. And if I were the seller, I'd feel pretty bad about inadvertently shafting my friend. I don't want to shaft anyone, but I surely don't want to even risk doing it to a friend.

 

[ChrisJ]

Depends.

I wouldn't sell a car to a friend, because if something major were to happen to it, the seller would know anyway. And if I were the seller, I'd feel pretty bad about inadvertently shafting my friend. I don't want to shaft anyone, but I surely don't want to even risk doing it to a friend.

That's the problem when you buy a used car from anyone, you never know what may fail. Feeling guilty for selling it to a friend is just as silly as the buyer being mad at the seller for it.

Unless you have a working crystal ball or tardis there is no way you could know either way.

 

[getthebiscuit]

It would depend on how the friend drives, how well he maintains his car, how much he loved that thing. I sold my 2001 ford focus to my friend, but i took such good car of the car and replaced so much on it, even dropped a used engine in that bitch. I was glad to give my car to a friend, someone who would appreciate the time and TLC i put into it so he would have a long lasting reliable car for his first vehicle. i sold it to him for basically what i paid to drop the used engine in. Any used car is gamble, but the odds were in his favor.

 

[ahtoxa]

That's the problem when you buy a used car from anyone, you never know what may fail. Feeling guilty for selling it to a friend is just as silly as the buyer being mad at the seller for it.

Unless you have a working crystal ball or tardis there is no way you could know either way.

Of course there's not a way to know. That's why I wouldn't sell a potential cat in a bag to a friend. That's just me.

 

[attrapereves]

I don't really consider the person a good friend, but a coworker that I talk to sometimes. The car has low to normal miles for the age. I'm going to have it checked over by a mechanic before buying it.

On another note, does anyone have experiencing with selling a car that still has a loan on it? I'm thinking that the buyer could either give me a check for the entire sale price, then I could pay off the loan. OR the buyer could write two checks, one for the loan balance, and one for me.

 

[ahtoxa]

It seems like it will be easiest to write one check. Not sure your title transaction will happen, since you need to sell the car to get the money, then use the money to pay off loan, at which point the title will be mailed to you. So, between the actual sale of the car to getting the title for it for the new buyer, a few weeks could pass.

 

[attrapereves]

It seems like it will be easiest to write one check. Not sure your title transaction will happen, since you need to sell the car to get the money, then use the money to pay off loan, at which point the title will be mailed to you. So, between the actual sale of the car to getting the title for it for the new buyer, a few weeks could pass.

Missouri provides the title to the owner and not to the lien holder, so I've already got that. The bank should provide the lien release after the balance is paid. Luckily the bank is local, so I can pay it off in person and receive the lien release the same day.

 

[dbarrett231]

when i sold cars that still had to be paid off i would have the person meet me at the bank i had it financed through and did the whole process there that way you get it done in one shot.

 

[AlaskanDSM]

Unless you used an online bank haha.

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