Hi I want to buy a used car I saw car by dealer who has

Tell us more about yourself

 

Please let us know your details to help us answer your question.

 

 

 
Hi, I want to buy a used car. I saw car by dealer who has finance the car. Dealer said to me,the car owner donot pay remains finance amount. May I buy the car from dealer? If yes, What will be terms & condition?
  • 3832 day(s) ago by Dharmendra Prasad
Under:   #Cars
4
Answer(s)
Post an Answer

Answers submitted by Users

Hi,
You can buy the car provided all correct information is given about finance aggrement of previous owner with finance company.like bank balance left EMI etc .Best thing is to ask the previous owner to complete Balance of loan .or get loan account to transfer to your account.Its always better to complete all formalities before taking possession of car so that you can be free of burdons of keeping in touch with previous owner.
 

Posted: 3831 day(s) ago


B Senthil Kumar
Hello Mr. Prasad, (Looks like some people do not understand your question! They want to sell you a Tata Indica!)

Jokes apart, buying a car repossessed by a lender is by all means a viable option of getting a good deal on a fairly new vehicle. This is very much possible, and the process of transfer to you by itself should not be something you would worry about. First of all, be willing to negotiate the price and the rate of lending, if you are thinking of taking over payments. The fact that the car has been repossessed means the dealer is not making money on it until it is sold or taken over by another party. So, negotiate.

Secondly, take a good look at the registration papers and make sure this "dealer" is indeed the lending party or an authorized representative.

Do not listen to them trying to tell you that the price and the lending rate are all fixed. These are not fixed, and they will be more than willing to "settle" for less!

Hope you get a lovely car for a great price!
 

Posted: 3830 day(s) ago


Ashwin
hello prasad
if you are transfering the loan then you should have a clear idea about thel interest.there is a chance of the interest rate to get doubled.
 

Posted: 3830 day(s) ago


Saurabh
Hi!
Incase you interested in Tata Indica - 2002 (petrol) single owner car. please do let me know.
9920804233
 

Posted: 3811 day(s) ago


Post Your Answer Here

Type the characters you see in the image below

Recently Asked Questions

Find New Cars

By Brand

Get complete details of new cars

By budget

5 Lakhs to 10 Lakhs

Ad
Ad