selling personal car with the buyer using a financing

[jaejae]

good day sirs! i'm planning to sell my 2006 car and just wondered what are the pointers to look out for if the buyer wants to pay through a bank loan or a financing company...i see people advertising their cars emphasizing a certain downpayment amount if the buyer pays through financing, why? i'm under the impression that if the buyer wants to pay through a bank loan or a financing company, the seller doesn't have to worry about how much the downpayment should be...or does he? thank you sirs!

[putalittlemore]

those sellers offering financing schemes were most likely into buy-and-sell business ... you, being a seller, dont have to worry about them ...

[jaejae]

thank you sir!

[[archie]]

as long as bigay sayo ng lending institution cash and may deed of sale, walang kaso.

[hanna marie]

hi...i have a question lang po regarding buying naman a 2nd hand car from someone na may balance pa sa toyota financing...im planning to pay it fully para mabili ko na sa kanya and ma release the OR and CR but my question is,what papers do i need to get the OR and CR from toyota after paying the balance nung may ari...and the thing is nasa abroad yung may ari...nag iwan lang sya ng deed of sale sa dad nya para mabenta na ang car....ang hirap po kasi tumawag sa toyota financing para maturuan ako ng mga dapat gawin eh...i hope someone can give me advice..thanks!

[ans_lim168]

hi...i have a question lang po regarding buying naman a 2nd hand car from someone na may balance pa sa toyota financing...im planning to pay it fully para mabili ko na sa kanya and ma release the OR and CR but my question is,what papers do i need to get the OR and CR from toyota after paying the balance nung may ari...and the thing is nasa abroad yung may ari...nag iwan lang sya ng deed of sale sa dad nya para mabenta na ang car....ang hirap po kasi tumawag sa toyota financing para maturuan ako ng mga dapat gawin eh...i hope someone can give me advice..thanks!

First check if the car is still under the financing scheme, for all you know the owner paid in full already so check the papers and mortgage of the car. Second, since the owner is abroad and only the dad is transacting the sale of his car, better have him (son) contact you for verification and for your peace of mind. hth.