Creative financing ideas?

Did you ask the seller if they are willing to finance and how much cash are you going to put down?

 

Who will pay for repairs if engine blows a month after you start driving?

 

My opinion seller would be a fool to finance it like that.

 

Your 20% cash down plus something of yours of equal value ( car, boat, property) as collateral, for the truck owner to hold title to, until the balance is paid in full.

 

What is the asking price?

 

If I was looking to sell my rig absolutely no way no how, not gonna happen in a million years. Way to many ways that could go wrong. Use a bank, thats what they are for. If a bank won't approve you for financing why should I?

If you did find someone crazy enough to do something like that use a lawyer to draw up a contract covering everything possible, but still wouldn't do it

 

Personally I would be willing to finance 1 payment in $100 bills if I were to sell my truck..... I MIGHT take a check but you are not getting the truck or title until it clears

 

If you've got 20% down of say a $50,000 truck then you've got $10k, just using these numbers as examples. $10k is a semi-bad day at the repair shop, $20k is a bad day. MIne rarely goes in for less than a couple grand.

Then tires, fuel, so many other things.

Then brokers, or anybody really, is going to make you wait 30 days on average to get paid. How are you going to eat and pay your bills?

I"m sorry to say this is a bad idea all around. Keep working and saving.