Selling a car...

[Nutdotnet]

Ok, so I have an interested buyer. I haven't met him yet, however, he says he's a local.

Yesterday he sent his first email asking "if it was still available". This morning he sent me an email saying "I've been approved for the loan". Can someone explain to me how this is possible? Do certain websites (CapitalOne for example) not need all the vehicle information to get approved or...?

Just curious more than anything...

 

[BigJ]

Maybe he took out a personal loan because he knew he needed a car anyway?

 

[BrunoPuntzJones]

Could be an unsecured loan. Personal loan, doesn't have to be auto.

My dad buys a lot of rental property and all he has to do is call his guy at the bank and say he needs x amount and the guy says ok or no. They already have all his info so doesn't take more than a few seconds to see if they can extend him more credit.

So it's possible.

 

[radioouman]

Not too hard. Late model cars aren't a risk to a bank, so a credit check and a quick year/make/model of the car is all that the bank needs. Then the details can be worked out later.

 

[Garet Jax]

Originally posted by: Nutdotnet
Ok, so I have an interested buyer. I haven't met him yet, however, he says he's a local.

Yesterday he sent his first email asking "if it was still available". This morning he sent me an email saying "I've been approved for the loan". Can someone explain to me how this is possible? Do certain websites (CapitalOne for example) not need all the vehicle information to get approved or...?

Just curious more than anything...

What do you care? If he shows up with a certfied check, then it doesn't matter where he got the money.

 

[Nutdotnet]

Originally posted by: Garet Jax

Originally posted by: Nutdotnet
Ok, so I have an interested buyer. I haven't met him yet, however, he says he's a local.

Yesterday he sent his first email asking "if it was still available". This morning he sent me an email saying "I've been approved for the loan". Can someone explain to me how this is possible? Do certain websites (CapitalOne for example) not need all the vehicle information to get approved or...?

Just curious more than anything...

What do you care? If he shows up with a certfied check, then it doesn't matter where he got the money.

Because I was curious? That's about it. I was surprised...considering it went exactly like this:

First email: "Is the car still available, if it is, I want it."
Second email: "Yeah I'm on XXXX" (I asked if he was local)
Third email: "I got approved for the loan, let's meet up"

All of this happening on a Sunday...

I understand everyone's buying habits are different but just more surprising more than anything...I guess part of it is I wasn't expecting to possibly have it sold so soon (I only put an ad on craigslist last Saturday)...it's been my "baby" for the past three years...