Okay so! I have a car, nice car that is fairly new, I got it brand new in like November.. it's a 2010 with 12,ooo miles, Anyways I do not need the car anymore, my brother moved over seas and gave me his car, which is a bit older, but it's smaller, better on gas, better for me.. I've been watching that Barter Kings show and it got me thinking.. I checked the Kelly Blue Book value on the car it's around 27,000$ I have looked on Craig's list and some people are trading some crazy shit. Do you think it would be stupid to offer the car as a down payment on a house? I live in an apartment and have been considering a house for a long time.. There could be people out there that have houses that they are too lazy to sell, or can't sell it or want a car instead.. Obviously I know I'd have to involve a lawyer. I don't feel like selling the car, but I think it would be cool to trade it, but, maybe I am just stoned and dunno what the hell I am talking about. Anyways, good idea or totally stupid?
I dont think is that stupid. Personally I would see what other cool trades could go down, could turn out like the guy with the paper clip.
The way I would do it is give the car to the bank who's handling the mortgage, not the owner directly. Banks often take things like that
I'm the only one is wondering what car ?? whats the point of leaving it out of the post ? it would help me envision the predicament at hand , and ultimately help me determine if you are in fact , stupid ..
I'm curious about the car too. It's nearly 3 years old and lists at $27,000? It must have sold new for like $40,000.
Can you afford a house that's the question? It's not just the down payment or the mortgage, there's upkeep and insurance as well. Do you work? How's your credit history - these are all factors you need to get in line before you take such a big step. Good luck
I can afford a house, and I've been looking for a while. I am sick of paying rent, paying someone's bills, I'd rather pay for my own place. even if it's tiny
I don't see anything wrong so far. Do it!! if i was in your place i would rather sell the car and keep the money in hand rather than putting it for down payment but that's just me.
Now's the time to jump in (depending on where you live) with real estate prices in the tank. It hasn't had much effect where I live, but I read somewhere that condos in Nevada that originally sold for a million were now listed at under $250,000.
Dam idk if I paid 40k for a car I wouldn't want to sell it two years later for 27k, I would try to sell it privately for at least 32k or just keep it. What type of car if you don't mind me asking?