Selling a car under finance..

[Manaz]

Some other sister turns up - some rough bitch from punchbowl and begins to literally yell and start a fight in ANZ - in Neutral Bay mind you.

The fact that this woman (sister? What are you, some american gangster rapper lost down under?) is from Punchbowl, and you're in Neutral Bay is of no consequence, and the fact that you're mentioning these as if they matter is quickly losing you any sympathy you had (and yes, I lived in Neutral Bay at one stage, so I'm not just some bogan westy with a chip on my shoulder about the rich and elite lower north shore yuppies with their noses up their own bums - oh, wait, that's stereotyping, isn't it...).

You're selling an encumbered car. You've put yourself in the position, you need to accept the responsibility for the fact. Given that the buyer is the one taking the risk here, I don't see what your issue is - ask them how they want to handle the sale, if you don't like their terms, don't sell it to them. There are other buyers for you, there are other cars for them. It stinks that they're making a scene and making things more difficult than they need to be, but again, go back to my first sentence in this paragraph...

[STV4SYT]

This is precisely the reason i dont finance anything,

too damn hard.

Hopefully u get it sorted out.

[Rocket36]

You're lucky you've got anyone wanting to buy it. Nobody I know would ever buy an encumbered car. Far too much risk involved...

[elisiX]

The fact that this woman (sister? What are you, some american gangster rapper lost down under?) is from Punchbowl, and you're in Neutral Bay is of no consequence, and the fact that you're mentioning these as if they matter is quickly losing you any sympathy you had (and yes, I lived in Neutral Bay at one stage, so I'm not just some bogan westy with a chip on my shoulder about the rich and elite lower north shore yuppies with their noses up their own bums - oh, wait, that's stereotyping, isn't it...).

You're selling an encumbered car. You've put yourself in the position, you need to accept the responsibility for the fact. Given that the buyer is the one taking the risk here, I don't see what your issue is - ask them how they want to handle the sale, if you don't like their terms, don't sell it to them. There are other buyers for you, there are other cars for them. It stinks that they're making a scene and making things more difficult than they need to be, but again, go back to my first sentence in this paragraph...

Hold on a second mate - I never said I was from Neutral Bay - I said my Mrs works there.

This family are from Punchbowl/Roselands - I grew up in Beverly Hills - so get your facts right.

As for selling an encumbered car, I would hazard a guess that a vast majority of cars sold these days are encumbered.

Now I had planned on actually paying out the balance of the loan before selling the car but things moved quite quickly.

The buyers felt more confident in paying Esanda directly and as such, I honored thier preference.

The issue, if you have actually read what I wrote before mouthing off, is that they changed the arrangement at the last minute.

From the first discussion with them my preference was that the date of payment be the date of delivery.

They wanted otherwise but changed thier tune/minds at the last minute which left me no room to move - hence my frustration.

Dont talk to me about losing sympathy - I didnt come here looking for any. Rather to simply state my experiences for others.

[elisiX]

You're lucky you've got anyone wanting to buy it. Nobody I know would ever buy an encumbered car. Far too much risk involved...

As for this comment - I had a good 12-14 buyers lining up to buy it.

I just happened to make the deal with these guys first even though others offered higher amounts.

Please guys, dont make ridiculous comments without either knowing all the facts or thinking first.

[Rocket36]

Majority of cars encumbered? WTF???? I seriously doubt that. Owing money on a car is ridiculous!

And I'm not talking about leasing here, I'm talking about getting into debt to aquire a depreciating asset. Seriously? WTF????

[elisiX]

Sorry, let me clarify. The majority of newer cars, lets say under 5 years old, would be encumbered in my opinion.

So I am not sure why something like this would surprise you so much - even if you personally dont believe in financing a vehicle.

[Speed]

The fact that this woman (sister? What are you, some american gangster rapper lost down under?) is from Punchbowl,

I took the sister comment literally, thinking that this person was a sister to one of the people buying the car.
I also thought that elisiX was telling the story from what he was experiencing. Sure he could have sugar coated it and been more diplomatic/politically correct but then we wouldn't have the full story and level of anxiety that elisiX was trying to express.

Manaz makes a good point that elisiX is selling an encumbered car and that he put himself in that position.

Rocket36 also makes a good point that it is not wise getting into debt to aquire a depreciating asset.
I personally have never financed the purchase or leasing of a car but what others do with their money is their business.

In my experience it has always been easier and more enjoyable buying a car than selling.

[elisiX]

Generally, yes I agree getting into debt to purchase a car is not a good idea.

However when we purchased the 07 SP23, I still had my 2006 Audi TT (which I owned approx 80% outright).

With 2 mortgages (both very positive), this was a suitable solution for us.

So any comments about it being stupid, not wise and so forth about financing a vehicle in my situation are not needed.

I'm not some 20yo who got himself $50k in the red to buy a car.

[G-rig]

You're lucky you've got anyone wanting to buy it. Nobody I know would ever buy an encumbered car. Far too much risk involved...

It's not that hard or risky, the buyer pays your finance company directly for the encumbered amount via funds transfer with the payout figure for that day. You get the tellers receipt with original stamp and usually if they pay for a fast transfer you can call up your finance provider and verify it's been paid.

Leasing isn't automatically better either. At the end of it you have a car with high km which would depreciate more anyway and you don't own it.