Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

Account Closed
  • Specialist
  • San Antonio, TX
351
Votes |
865
Posts

Taking a Hummer as a down payment?

Account Closed
  • Specialist
  • San Antonio, TX
Posted

I have a house that a prospective buyer wants me to  Owner Finance the sale. He wants to put a hummer down as the down payment. I’m not sure how to value that and exactly how to write it up to show the value and such. Anyone done a deal like this that could give me insight?

Most Popular Reply

User Stats

869
Posts
920
Votes
George W.
  • Investor
  • New Jersey
920
Votes |
869
Posts
George W.
  • Investor
  • New Jersey
Replied

I would give him half the book value of the hummer as a down payment and that's being very generous if it's in great shape mechanically & cosmetics. Automobiles in general are a bad investment unless you are mechanically inclined and can get them dirt cheap. You can easily spend a thousands bucks just on tires if it needs them and another 600-800 on brakes. Plus they haven't made hummers in years so it most likely has rust and needs other repairs to look perfect. 

Loading replies...