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Old 19-08-2005, 16:28   #13
Chris
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Re: What do you think of this car?

As others have said - the car is worth its market value, not what your friend's sister still owes on it. If it's not worth £3,700, then don't pay £3,700. Personally I wouldn't, you wouldn't expect to pay the top price except to a dealer who will also give you a warranty.

She may have a wait if she insists on that price, and she may find that the car depreciates faster than she is paying off the loan.

Additionally, find out what kind of loan it is. If it's HP, walk away. She can't legally sell you the car until after she's paid off the HP. You do not want to be buying a car with outstanding finance secured on it!

Finally, never, ever, ever, buy a car off a friend, family or workmate. When it goes expensively wrong in three months, you will find your relationships strained. It's not worth it.
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