I have found a 2k3 Maxima TE with 26k miles for 17k. I think it's a really good deal. Old couple owned it and are now getting to the stage where they can no longer drive. Carfax is clean.

I have never bought from a private seller before and i'm wondering what type of paperwork and other things i need to get ready/know beforehand. I've looked through the classifieds here and i guess people have had experience selling/buying from other org'ers.

thank and i appreciate any kind of help.

 

btw, my 2k1 got tottaled. some kid ran a red light and crushed my front end. i got 12.5k for it with 110k miles.

 

Make sure the people have the title in hand, so you dont have to deal with banks to get it.

 

The only paperwork involved should be the signing of the title by them, transferring it to you. Than you'll have to go to DMV to register the car and pay the sales tax on it.

 

i found out he still owes on his loan. about 9.5k. i'm reconsidering if i should take this car for 17k.

 

That just adds an extra step really. You give him the money, he pays the loan off, the bank mails him the title and he than transfers it to you. You may have extra bargaining power if he still has an outstanding loan on it.
$17K seems a little high to me.

 

Why don't you make an appointment with his bank and consummate the transaction there? Bring a certified cheque for the negotiated final price and have him pay off the loan right then and there in an effort to expedite the paperwork.

 

^^^ someone is using their noggin . i would do what bobo says definetly and you can definetly haggle him down a little bit on the price that does seem steep

 

17 does sound high. Make him an offer of like 14 if you really want the car.

 

17k sounds a little high for me too. Do a search - Ebay, local classifieds, AutoTrader, etc. to get a feel for what people are asking. Don't forget, what people ask and what they recieve are two separate numbers.

 

I would do that, plus have them provide a bill of sale.

A bill of sale (made out to buyer, signed by seller) is a very, very good idea on any kind of private party transaction.

 

Go to kbb.com., and check to see what they say. As a rule of thumb I pay no one more than the car is worth in good condition. No used car is in perfect condition so disregard that number. In my zip, that car in good condition is only worth 14700.., meaning that is THE MOST i would pay for that car.

 

I only paid a few hundred bucks above fair condition TRADE IN value according to KBB. I did get an excellent deal, but it just goes to show that KBB isn't the Bible.

 

My zip its 16,600 private sale, plus you did not mention if it had leather etc. so 17k might be on par depending where you are and the options from a pvt seller. Of course some might go for less or a little more depnding on how bad the seller want s to off load the car, just a side not here retail 03's are going from 17,500 into the 18,000's still at most lots you can find one.

 

Try your local DMV website for forms, that is where I downloaded a bill of sale and sold as is form. They are free and should do the trick. That is a good sugestion to meet at the bank that holds the title to eliminate any hold ups.

 

nadaguides.com
kbb.com
carfax.com

All great sources

 

MY advice is that a stealership wouldnt give them a drop over 14k for that car, and the 9.5k in loan left on the car makes me wonder. I only have about 4.5k left on my loan, but i'll admit to trading in a truck worth 15k to the dealer. I worked car sales enough to know that older people tend to just come in, pay cash, or get a SHORT term loan, because they're up there, their credit is set in stone, and they're not earning anymore income. You can't exactly fix 60years of credit history with 7perfect years of it. Offer them 14 and let the haggle begin! In all likelyhood, they don't need the money, and it sounds like they can't use the car anymore anyway.

 

Look elsewhere. The good thing about having the option of buying from a private party is that you can shop around for a kickass deal. They are definitely out there. You'd be better off looking for it in autotrader, etc, and letting this higher priced one slip by if you can't get 'em down to about 14 like suggested.

One word of purchasing advice. Check the framerails to make sure it hasn't been on a frame machine.

 

there is no sales tax from private individuals, at least in several states