Quote:
Originally Posted by gprsh924
Given all that, would a college student with no job and no income have any realistic shot at getting any type of decent rate on a used car loan for approx. $10,000? (I would put $5K-$7k down and then finance the rest).
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Re-read that for me please. Anything not quite vibe? Loan....no job....no income? $5-7k will easily buy you a very nice condition, reliable car. It will also buy you a BMW. But it won't buy you a nice condition, reliable BMW.
Sell the 525, use CASH to buy a better car. Now is not the time in your life to go into debt. Keep your head above the water, you'll be better off than 90% of the other people your age.
Rick, how long have you been seriously trying to sell? If it's been a little while, you need to look at the situation. Is the price too high? Do you have proper exposure (Pelican, Bimmerforums, Autotrader, Craigslist, etc)? Does your ad or car have issues that might scare people off? One thing I can guarantee about CarMax, they will offer less than you can get yourself. So if you're really not that motivated, try a little harder to sell it yourself.
Also, I agree with Kurt about the ad, remove the blurb about not having the title. Wait until they speak with you and see the car, don't scare them off at the beginning. Also, coming from someone who has bought and sold a LOT of cars. you need more pictures. Pictures sell cars on the internet, pure and simple. You can never have too many pictures. Take a bunch of high-res pictures, preferably in a decent setting (not in front of Tab's trailer). Post enough of them in your ad for a potential buyer to see all important aspects of the car. Your current ad doesn't even include the interior. I typically then post a link to a bunch more photos in a photobucket album. I took 63 pictures of my Saab 9000, it sold in less than 24 hours. Also, post it everywhere. Too much exposure is just right. Pelican, Bf.c, and Craigslist are free. Though it's $30, I sell most of my cars on Autotrader.