How do i pay for a car from a private party while also wanting to make montly payments
Asked by Tanishalorenzo Mar 23, 2019 at 08:11 PM about the 2005 Mazda RX-8 6-Speed
Question type: Shopping & Pricing
I want to buy a car from a private seller and its
about 3600 and i dont know how to pay. I also
want to make monthly payments but i dont know
how to pay at all for the car when i go to check it
out.
7 Answers
Tanishalorenzo answered 5 years ago
Do i give a check out to the seller?
You pay them if you want the car but sellers want payment in full.
Tanishalorenzo answered 5 years ago
Sorry ive never bought a car before im 16 and i dont really know much. So i get a bank loan. And im wondering if i give a check of 3600 to the seller and grt the car and pay the loan off to the bank. So is that what i do
Once you get a loan you make monthly payments to the lender but since you are under aged you will need a cosigner. The lender will hold the title until you pay off the car. You will also have to buy full coverage insurance which you may not be able to afford. Get an insurance quote before you go car shopping.
Tanishalorenzo answered 5 years ago
Alright thank you. And what if a adult buys it. What do they have to do?
