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anyone has any encounter with the above mentioned second hand car dealer?

Hi guys, have got a theoretical scenario which i've recently heard of someone being in - it's not anyone i know, so purely academic purposes, and seeing if anyone has any ideas. So car owner currently has a vehicle, with a 50k car loan left. Take for example he's paying 1K a month. He feels that he can't afford to pay this monthly installment now, and wants to reduce the amount he pays monthly. Repricing is out of the question, as the market is homogeneous. He inquires as to the price he can sell the car at. Unfortunately, it fetches a bid of say ... 25K. He doesn't have sufficient cash to cover the additional 25K, even after selling the car. However he doesn't mind paying off the 25K in (lower) monthly instalments. What are the options open to him in this case? I know that taking a personal loan - assuming his income can support - is one option.

hi all, need some advice here went to car dealer, bought a 2nd hand golf, exchanged hands (signed documents, payment all settled) today morning approx 1130am. our civic sold to them as a trade in. at about 1230pm, dealer called and say the civic caught fire while he was driving on the road OMG he took photos to show us, luckily no one injured. on our side, we definitely didnt sell them the car cause we know got problem and going to catch fire.. but i think they feel like we cheated them . (they are a reputable company, and we have good relations before this incident). we still want to keep the good relations but not sure how we can settle this so now the question is.... who will bear the costs of this "lemon" car? will insurance do payout for such case? will it be on our side or their company side?? thanks in advance all

Hello all. I am just wondering within these two or three months, have you ever tried to sell your car or gauge the value of your car in the second hand market. I did try to sell two cars and im in the midst of helping my brother in law selling his car. By now you should know that there are dealers pretending to be direct sellers when selling their cars. Their asking price is also very similar to the price displayed by the car dealers. I am sharing my personal experience when i sold my relative's car three weeks ago. It was a September 2008 corolla altis , 2 owners , car very tip top condition with a mileage of 116 000 . If you were to look at the price advertise by these dealers, it ranges from 54 000 to 59 000 but some of the calls i received by the dealers, they are just offering for 47k to 50k only. In fact, they have the cheek to tell me that once the car comes in to their garage , they will spend up to $3k to do up the car which i think is pure nonsense because the most they do is one coat of paintwork that costs around $800 to $1k. And these dealers also will charge admin fee and whatever else to further 'burden' the potential buyer. In another case, a dealer bought in a japanese mpv for 32k and two days later advertise it for over 41k. So ladies and gentlemen, i am just sharing with u as an end user we have to be very careful because the market practice is so bad and most of the time we are at the mercy of these dealers. I am sharing this so that we will be more aware of things and practices that happens around us. I hope there are other forummers who are willing to share your experience.