Payment plan

I agree with all the answers, too. but if times are so tough, why are you wanting to buy, the MOST expensive hot rod there is ????????.. buy a 48 Ford or Chevy...

 

Sounds like buying a deuce should be at the bottom of your "to do" list. FYI.

 

Do this ... it's a lot like monthly payments, with no finance charges.

 

Slippery slope....the answer is a resounding NO!

 

Seems everybody has pretty much steered you in the right direction. Too many things could happen in the time it would take to complete the DEAL.

 

search "paid or payments" see how many hits you find for deals gone bad.
save up or sell off

 

i say go for it, on your end, good luck finding a seller that is gonna do it........sellers aren`t gonna want to wait for you to pay for it for ten years.......thats why they are selling it......to get rid of it......not get 50 bucks a week to keep the car......i got a car trying to sell right now and if payments were mentioned i would say no, i don`t wanna look at it and decide not to sell.......

 

There is only one way that this deal you make works. You keep your word and the seller keeps his word. On the other hand there are about a million ways it goes to ****. In between all that, life will be busy throwing curves at both of you to keep the deal from happening. Don't do it.

 

Did anyone ask if this deal is a**** two friends or are the buyer and seller total strangers? I lost a deal years ago because I didn't have all the money to buy a car. Found out years later the seller, a friend would have made payment arrangements, actually got pissed that I never asked him or said I was interested in the car. How much money and time is envolved in this deal?

 

Hemi Joel,did you actually read what you posted. Who in their right mind would agree to finance a Duece or any hotrod and put the ***le in the buyers name before its paid for? Get in out of the cold,its affecting your brain.

 

Got to agree with the consensus-don't buy toys you can't afford. If I was the seller I'd get a lawyer with an ironclad deal that favored me and paid me an interest rate that made it worthwhile to take the risk and defer receiving the money. Neither would favor you, but, why would a seller want to sell you a car when he knew you couldn't afford it? How much money are you talking about? How about financing it though your family, if you must?

 

He asked how to protect himself, that's that way it is done with almost every car that is financed. It dosen't matter that it's a Duece, it could be a brand new pickup, 83 Fairmont, or any thing worth a lot more or a lot less than a 32 Ford, the process is the same. At least in this state, I don't know about other states. The buyer gets the ***le in his name. The lender (in this case, the seller) gets listed on the ***le as a secured party. If the payments don't get made, there is a process where the lender can get the state to put ***le back in his name.

If the buyer does not get the ***le in his name upon making the down payment, and then waits until he makes all the payments before attempting to get the ***le, there is no guarantee that he will ever get a good ***le. The seller could have borrowed money againt the ***le and not paid it off. Or the IRS or other creditor could levy against the ***le, and the buyer would be SOL. This stuff happens all the time. Putting it in the buyers name protects him from the sellers problems, listing the seller as a secured party protects the seller from the buyer defaulting.

Whether the seller will agree to it, who knows? If he is motivated enuff to sell it on payments, he just might. And if the down payment is sufficient to cover his potential costs of recovering the ***le, why wouldn't he?

 

Well it is a Tudor, already chopped, hardly any rust except for the bottom of the door skins. Complete body, fenders, grill, frame. Pretty much everything except the running gear. I guess maybe I'll p***. I dont need to get in over my head. The motivation behind it is he only wanted $6000. Thanks for all the responses.

 

This is the way to go about making payments that is the safest.
firstnomad

 

just my shinney 2 cents worth, you need to listen to a lot of the comments dont over extend , bury yourself and possibly family, save your money in a bank or bottle , dont finance a rod , and if you do choose that way go to a bank or credit union and do it threw them , not knocking 2 way deals holding money and cars deal but people change ways and possibly life and then you have a double edge sword and dont know what side cuts you , good luck but just my 2 cents

 

I wouldn't finance a rod. What if something else catches your eye down the road before it's paid off? What if you can't make the payment's down the road? Just my .02 but these toys should only be done on a cash basis. And believe me, it's not always easy to have patients and save up for something when there's a seemingly good.

 

er... where is this car?

 

6000 seems high anyway, i have a complete tudor with very hot running gear i couldn`t get 6000 out of.......just needs minor finishing..............wanna buy it.......no payments......

 

"Ditto"