I reckon the best way to go with getting rid of my car is to have someone take over the payments. I tried trading it in at the dealership for a cheaper car, but they want me to hang on to it as my credit is getting better quickly. If someone does take over the payments, can they refinance it to get a lower interest rate and a lower payment? Or do they keep exactly what I have? Thanks!
I reckon the best way to go with getting rid of my car is to have someone take over the payments. I tried trading it in at the dealership for a cheaper car, but they want me to hang on to it as my credit is getting better quickly. If someone does take over the payments, can they refinance it to get a lower interest rate and a lower payment? Or do they keep exactly what I have? It is only 9 months ancient with relatively low miles, 6K, perfect maintenance, washed/vacuumed weekly.
You have to question what is the payoff of your car as of today. It is usually a simple interest loan. Then you can question for Pay-off for the car and hope it sells. Take over payments is a take it over thing and also says you cant meet the deprivation of it and that would mean you have taken pour care of the care maintenance because you have a hard time building payments. So it will be hard to sell . You would be better of keeping it and paying the car off.
You see, if I am looking for a car , 2 cars I would never buy.
1. Take over payments. Why? Because the owner cannot meet the deprivation of the car. Oils changes are missed Tors are worn, belts may need changing ,etc
2. Repo. for the same reasons and more. IE it may not have even been washed, stains, dents.
I mean no offense.
Just giving you some facts of car buying.
Hope that helps.