Monthly payments

10

Asked by Dec 24, 2017 at 12:14 PM

Question type: Shopping & Pricing

How does the monthly payments work with private
dealer

9 Answers

10

Some listings are from private dealers someone who used this site to sell there unwanted car...I would like to know how does the monthly payments work between buyer and seller I know how the process works with dealers

39,675

A private seller is not very likely to take payments. Those 'suggested monthly payments' are just estimated amounts based on car's asking price and an average APR. They have no bearing on any actual deal you make with a seller.

2 people found this helpful.
10

O ok... Is that definite or most likely?...

39,675

It's neither. It's to help people shopping for cars see what a potential payment amount MIGHT be, but has no bearing at all on the deal struck between a buyer and seller. Your credit history and down payment (and purchase amount) will have a big impact on your monthly installment. So only look at those suggested amounts displayed by this site as a very, very rough guide.

10

Thank you

10

They're full payments or I can have payments set up thru my bank if the seller agrees? Is that what you mean

134,215

Whatever you do, do not buy from a Buy-Here-Pay-Here loan shark!

134,215

Most dealers that offer financing give you a loan through a bank and your payments will be to the lending agency, NOT the car dealer with the exception of buy-here loan sharks that do their own lending at 30%!

10

Ok I won't thank you

1 people found this helpful.

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