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Price on 2004 Cobra
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<blockquote data-quote="choate" data-source="post: 15534792" data-attributes="member: 137485"><p>I have excellent credit and I probably should have shopped around but I had been trying to buy the car off the individual for like 3 months so when he said can you come this week I called the first credit union in town I could think of, they told me 5% for 60 months on 100% of the NADA so I said just run it. I ended up financing for a shorter term but I was still short 5 grand which I had but the value of the car was only 16k per their resources.</p><p></p><p>The weird part about the buying for me was I met him at the bank that had his loan, and I had a check from my credit union made to him for the difference of what he owed, vs what I was buying it for and my credit union was going to overnight the check to payoff his loan from there. My credit union had already signed papers along with him that they were going to pay off his loan, but my thing to my CU was what if I don't want the car, then I wouldn't want them to pay it off, and they said just call us, and we won't send a payoff check to pay it off if you don't purchase the car.</p><p></p><p>So, I met the guy at his Bank, we walked into the lobby and he goes to me "hey man I don't even have an account here to deposit these checks (only had the loan there), and if I let you drive off in my car how do I know your bank is going to pay off my loan if you tell them you didn't buy it?" Touche my friend.</p><p></p><p>We'd already somewhat discussed this but we ended up taking pictures of each others drivers license, did a handshake and said just let me know if there are any problems, and off I went in the car. Btw I had all kinds of hassle dealing with my credit union with the paperwork for the out of state title etc and it really helps if the person you are working with is cool</p></blockquote><p></p>
[QUOTE="choate, post: 15534792, member: 137485"] I have excellent credit and I probably should have shopped around but I had been trying to buy the car off the individual for like 3 months so when he said can you come this week I called the first credit union in town I could think of, they told me 5% for 60 months on 100% of the NADA so I said just run it. I ended up financing for a shorter term but I was still short 5 grand which I had but the value of the car was only 16k per their resources. The weird part about the buying for me was I met him at the bank that had his loan, and I had a check from my credit union made to him for the difference of what he owed, vs what I was buying it for and my credit union was going to overnight the check to payoff his loan from there. My credit union had already signed papers along with him that they were going to pay off his loan, but my thing to my CU was what if I don't want the car, then I wouldn't want them to pay it off, and they said just call us, and we won't send a payoff check to pay it off if you don't purchase the car. So, I met the guy at his Bank, we walked into the lobby and he goes to me "hey man I don't even have an account here to deposit these checks (only had the loan there), and if I let you drive off in my car how do I know your bank is going to pay off my loan if you tell them you didn't buy it?" Touche my friend. We'd already somewhat discussed this but we ended up taking pictures of each others drivers license, did a handshake and said just let me know if there are any problems, and off I went in the car. Btw I had all kinds of hassle dealing with my credit union with the paperwork for the out of state title etc and it really helps if the person you are working with is cool [/QUOTE]
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