cars. If he says he can get competitive rates for financing, clarify with him what he means by competitive rates (and know that anything over 2-3% APR isn't competitive these days - I just closed on a 6 year loan at 1.65%). Then give your insurance agent a call to make sure there won't be any problems insuring the car and that it won't jack your insurance rates up.

And if you do buy it, as others have said, don't plan on selling it anytime soon.