How to owner finance a car?

8th Dec 2009 by Gary

To owner finance a care requires nothing else than agreeing to do it by the two parties. If you are the one buying the car, you would want to be sure the person selling it to you has the title, as it would cause you major headaches if they didn't. Other than that, test driving it or having it checked out by someone that knows cars is a good strategy before buying. We all know many horror stories of those that have been swindled when buying a used car. If you're the owner of the car, then it's more checking if the person has a predicatable stead income and whether they would be able to pay the monthly payments they would owe you. You would also want to get enough of a down payment, along with the first monthly payment in case someone decides to take off with the car and you're stuck with nothing. You want to be able to at least cover the real value of the car and make a little money on it at least in the deal.

This answer is the subjective opinion of the writer and not of FinancialAdvisory.com