Taking over someone else's car payments?
By davisdivaSS
@davisdivaSS (22)
United States
May 14, 2010 12:17pm CST
I seen an ad on Craigslist about taking over someone car payments. They want $900 down to recover some of their down payment and the payments would be bi-weekly at $153. I have talked with this person but I'm not to sure of this process. My grand dad is a mechanic so I plan on taking him with me. The car is a 08 Fod Focus. What concerns should I have or what questions should I be asking to get to right deal?
1 response
@schenn (67)
• United States
15 May 10
Save your money and buy a car a couple years older. The car is still so new itll depreciate faster then you can pay it off, meaning by the time you pay it off, itll be worth a lot less then what you paid. Not to mention insurance rates are a lot higher on new cars (more expensive to replace/repair) Its better to get a car 5-6 years old, which will only be a little more then the 900 you were already thinking about. It'll still run great, most of the kinks will have been worked out or at least discovered meaning you'll know what youre getting and be getting a better deal for it.
