A growing trend amongst car sellers in the Beaverton Oregon area is the takeover payment method. Every year, thousands of people in this area fall behind on their car payments for various reasons. Sometimes people get so far behind that they are not able to catch up. In an effort to sellers their credit, they decide to basically give their car away. While the car may have several payments left or maybe just a few, this can be a really great way to get a great deal on a used car on craigslist. There are a few things that you should know about a takeover payment car before you decide to purchase. The first thing that you want to do is a bit of research to determine the actual retail price of the car that you are interested in.
Sometimes people would like to seller car but realize that they are upside down on their loan. And upside down loan means that you simply owe more on your vehicle and it is currently worth. That being said, this is not the type of card that you will be interested in because if this were the case you could simply go to a car dealer and make this purchase. The type of deals that you are looking for are those that are significantly below value. For instance, you may be interested in a Honda Accord that is used and retails for around $15,000. You noticed an ad on craigslist for a takeover payment and they are asking for 9000. This may prove to be a good deal and may be worth checking out.
In another instance you may run across a Ford F1 50 that is worth $20,000 but the seller is asking $19,500. In this case, it is likely not worth pursuing such a deal because the car seller is likely in and upside down deal and does not have much room to negotiate. One way to avoid coming upside down on a car loan is to choose a vehicle that appreciates at a slow rate. There is lots of information available online that can help you choose these types of cars. For instance, many foreign cars such as Toy it is in on this depreciate at a much slower rate than American-made cars. While this rule of thumb is not always true it is a good guideline to go by. If the car has several known problems and defects than the overall my you will be greatly reduced for all vehicles in that particular year. One way to get an idea of how quickly something appreciates is to look at the Kelly blue book for the current value of the car that you are interested in and then look five years back to see how much the car will be worth in five years. This is usually a good indicator and can help you decide whether or not you want to choose to a particular car. Buying a takeover payment car is a great way to save thousands of dollars.