Sometimes you need to sell your car because you want to eliminate some of your debt. Lenders are sensitive to the sum total of the amount of money you owe relative to the amount of money you make. This is called “earnings to debt ratio.”
So the time might arise when you have to lower your debt so that you can appear more attractive to lenders when you might want to buy a house for example.
This can be accomplished by selling your used car. And here is where a qualified car dealer like Dennis Buys Cars comes into play. We are experts at buying cars and all it’s nuances. We will handle every aspect of buying your car, truck or motorcycle.
We first evaluate your used car and determine what we can pay for it. We then contact your lender and get what is known as a “ten day payoff”. That is your payoff amount which is frozen as long as the bank receives that amount within ten days.
If the amount that you owe is less than what we can pay you then we will cut you a check for the difference. If the amount you owe is greater than what your used car is worth then you have to write a check for the balance.
Either way we will evaluate the worth of your used car, we will determine your payoff and you will be on your way in less than fifteen minutes with no hassle.
Dennis: So James tell us about this car you’re selling today
James: Well this is a 2012 Toyota Sienna family car. We love it but we’re lowering our debt to income ratio to buy a house. So I’m really sad to see it go but someone’s gonna get a fantastic car.
Dennis: Your wife was telling earlier that you have another pretty cool car that you can drive; the 1965 Falcon.
James: That’s right. That’s right. That’s a chick magnet; also she doesn’t let me drive it often.
Dennis: That’ll be great and James how did you find Dennis at DennisBuysCars? Did you do a search online or do you remember how you got to us?
James: My wife did some research. Online.
Dennis: Ok do you remember what you guys typed in when you did the search?
James: I think we typed in sell my car…yeah sell my car Los Angeles and Dennis came up.
Dennis: Awesome. Great.
James: And Dennis is a pretty cool, straight forward guy, he used to play the blues and he has a pretty tight operation here and he’s pretty straight forward. I like dealing with him.
Dennis: Great and I understand that there was a payoff on this car and that…tell us about the transaction
James: Well we had X amount to pay off on the car they’re taking care of that we had to pay a few bucks extra to finish that transaction but uh but it’s all done and moving forward.
Dennis: And James what would you say the best part of the whole transaction was?
James: I think it was uh….knowing that I can work with Dennis and he came up with a solution that we could agree on.
Dennis: Well great. We really appreciate you coming by and of there’s anything that we can do car wise in the future please give us a call. Thank you so much
James: Will do. Thank you.