Wtb Elise - LotusTalk - The Lotus Cars Community
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post #1 of 7 (permalink) Old 11-01-2018, 10:42 AM Thread Starter
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Make Payments on an Elise?

Would anyone sell an Elise and let someone make payments on it?

I have 10K to put down and can prove that I make enough to pay you the total of your car in a reasonable amount of time. I don't feel like getting a loan at 8% and giving a company $3,000-$4000.
I live outside of Philly and would prefer a local transaction, willing to drive within reason.

Could I wait until June or July of next year when I will have probably saved up enough to pay cash? Yeah, I guess so. Am I feeling impulsive, and have I always wanted an Elise? Yup.

Let me know if there is anyone out there
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post #2 of 7 (permalink) Old 11-01-2018, 07:40 PM Thread Starter
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Wtb Elise

Would there be anyone open to selling an Elise if I can put $10,000 down and make payments? I can prove that I make more than enough money to pay the total in about a year, I just don't want to get a loan at 8%. I live near Philly and would prefer a semi local transaction
I'm willing to drive about 4-5 hours one way
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post #3 of 7 (permalink) Old 11-01-2018, 08:25 PM
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Have you tried a credit union to see if you can get approved for a more reasonable interest rate? It's extremely risky and ill-advised to privately sell a car via payment plan.
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post #4 of 7 (permalink) Old 11-02-2018, 06:36 AM
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Originally Posted by Dreamcarnow View Post
Would there be anyone open to selling an Elise if I can put $10,000 down and make payments? I can prove that I make more than enough money to pay the total in about a year, I just don't want to get a loan at 8%. I live near Philly and would prefer a semi local transaction
I'm willing to drive about 4-5 hours one way
You don't want to pay interest on a loan, but you're basically asking the seller to give up the utility of his money...whether being available to buy another car or to earn money in some type of investment.

You might find someone to go with this, but it's a very long shot. Years ago I was selling my MGBGT. Guy came to look at it, said he'd pay me $500 down and then $25 a week. Nope, lenders take risks when lending money, the interest is both their profit, AND their risk mitigation.

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post #5 of 7 (permalink) Old 11-02-2018, 07:14 AM
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If you're gonna put $10K down, and you're able to pay it off in a year...get a traditional car loan from the bank (put $10K down, and pay the loan off in a year). You won't pay that much interest.

Even if I was interested in selling my car, and even if I was interesting in financing it for you (or anyone else), I'd want something in return for my risk...a.k.a interest.

Or are you asking if there's someone who is willing to give you an interest-free loan to buy their Elise? Because, if that's the case, I'm sorry to be the one to tell you that you'll be unable to enjoy the ownership joys of an Elise. The cabin is very tight, and someone with balls that big simply won't fit comfortably in the stock seats.

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Last edited by Habious; 11-02-2018 at 07:23 AM. Reason: rong werd.
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post #6 of 7 (permalink) Old 11-02-2018, 07:46 AM
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If you can afford to pay off a loan within a year, just put that money aside and wait until you have enough to buy a car outright.
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post #7 of 7 (permalink) Old 11-02-2018, 08:38 AM Thread Starter
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You guys are definitely right, I could just wait the 6 months. As far as not paying interest to a private seller, I was just planning to negotiate a price that made the payment period worth it. I know it's a long shot, but it never hurts to ask. Thanks for all your opinions.
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