Buy Car with Reverse Mortage Funds

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Buy Car with Reverse Mortage Funds

Post  Cherry Pearl on Tue Feb 05, 2008 9:25 am

I'm thinkiing about the reverse mortgage and I also need a new car, at my age it will probably be my last one. Can I use the money to buy a car?

Cherry Pearl

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Re: Buy Car with Reverse Mortage Funds

Post  Linn F on Tue Feb 05, 2008 9:39 am

I'm not 100% sure but I would think you could buy anything you want.

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Re: Buy Car with Reverse Mortage Funds

Post  Nini Stone on Tue Feb 05, 2008 10:09 am

Yes you should be able to buy a car. Just becareful when you start buying you only have a limited amount of funds that have to last.

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Re: Buy Car with Reverse Mortage Funds

Post  Walter Cabe on Thu Feb 07, 2008 9:58 am

You can buy what you want with the money, but as a senior myself I can tell you from experience you need to be careful how and when you spend your money that you get.

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Re: Buy Car with Reverse Mortage Funds

Post  Ralph J on Thu Feb 07, 2008 10:16 am

If you are going to invest in a new car you might want to take someone with you. I know women can buy cars on their own now but for some reason it seems like the car salesmen just don't give a woman as good a deal. That is my wife and my experience.

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Re: Buy Car with Reverse Mortage Funds

Post  Foster Brown on Thu Feb 07, 2008 11:00 am

I haven't had a new car in years and will probably never get one now as I'm limited to where I can drive now. You go Cherry Pearl, get a good looking red car for me and enjoy.

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Re: Buy Car with Reverse Mortage Funds

Post  Sun Shine on Thu Feb 07, 2008 11:04 am

Oh no Cherry I always wanted a "White Cadallic" get that one they are beautiful.

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Re: Buy Car with Reverse Mortage Funds

Post  Lizzy B on Fri Feb 08, 2008 12:42 pm

Well I'm going to ask for a Lincoln Escalade I think they are beautiful and I'd also like a driver please.

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