New member here need advice on selling recently purchased 370Z

nextelbuddy · 03-27-2009, 11:15 AM

Quote:

Originally Posted by semtex

Well, you can't really sell it, I don't think. Because you don't own it. There's a bank lien on the thing, so it's not yours to sell. Now if you were trading it in, that'd be different because the dealership would send the payoff amount to the NMAC, and you sign papers stating that once they do that, they own the car and the title gets sent to them. But I think you'll have a hard time doing something like that with private sale.

Quote:

Originally Posted by SoCal 370Z

I would look to get someone to take over your loan—provided the lender approves them—and walk away after that.

im pretty sure i can sell the car, the new person woudl go to a bank or financial institution and get approved for a loan and then their institution would give them the check to pay off the car to nissan and nissan woudl send the title to the new financial institution to hold until its paid itt to them.

what i was looking for more or less was price wise what could i drop it down to to entice a new buyer? i have some savings and would be wiling to cover the difference to bring the price down.

SoCal 370Z · 03-27-2009, 11:19 AM

Quote:

Originally Posted by nextelbuddy

what i was looking for more or less was price wise what could i drop it down to to entice a new buyer? i have some savings and would be wiling to cover the difference to bring the price down.

I would try to walk away without having to come out of pocket more than you already have. Tell the perspective buyer your situation; people are aware that times are hard, and there good people out there that might be interested in what you have through simply taking over to help you out.

Quote:

Originally Posted by semtex

Check your contract documents really closely. I can't remember for sure, but in GA new car sales may have a 'buyer's remorse' clause (also sometimes called a 'right of recisison'). It allows you to reverse a sale within a fixed period of time.

Great point Semtex!

streetrod · 03-27-2009, 11:27 AM

Not a fun situation to be in and the answer to your question is not a happy one. A base M/t + sport invoices around $31K with destination. Many are buying new for around invoice and more and more seem to be finding under invoice by about $500. If yours is an m/t and you have to dump it, my guess is you'll be looking at at least $1.5-2.5K less than invoice. That's going to put the sale price range from $28.5K - $29.5K. Many will still opt for a brand new ride to be the original owner even at that price.

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03-27-2009, 11:27 AM	#3 (permalink)
streetrod Base Member Join Date: Feb 2009 Location: above ground Posts: 17 Drives: checker cab Rep Power: 18	Not a fun situation to be in and the answer to your question is not a happy one. A base M/t + sport invoices around $31K with destination. Many are buying new for around invoice and more and more seem to be finding under invoice by about $500. If yours is an m/t and you have to dump it, my guess is you'll be looking at at least $1.5-2.5K less than invoice. That's going to put the sale price range from $28.5K - $29.5K. Many will still opt for a brand new ride to be the original owner even at that price.