My friend is looking at a 2005 Acura TSX with 76000 miles(90% freeway), one owner, clean title. Owner was asking $14900, which was even hingher than book value. He came down to $13800 and not going any down. Problem is he still owe around $8000 on it. We have couple of options to go with don't know what to do

1> Pay owner in cash, he'll take care of everything (giving big amount to stranger with no proof of purchase??!!)
2> Take over payments
3> Pay difference to bank and rest to owner.

Bank is Community One Federal Credit Union.

 

Go to the DMV or meet your insurance agent. [/thread]

 

Work it out with the bank and pay the owner the balance once you receive the title/lien release. It's going to take a while but you want to take a safe route with this.

 

I'd still work the price a bit...

 

Wait!! You mean pay the bank first then wait for title to arrive and then pay rest to the owner, right??

We are going to owners house tommorow, hopefully we'll work something out.

 

I was trying somewhere around 12000 to 13000 but he don't wanna go any lower. And this was the cheapest one I found. Clean car just some rock chips on hood because he used this car for everyday cruise to his work.
(around 80-90 miles a day+his runs to grocery store..lol)