:( need to sell my truck

[DRamSrt10]

Hey guys. I wish it don't happen but it have to be happen and I need to selling my truck. I have some of the questions and need your help. I want to selling my truck to a dealership and trade in for 2002 or less year of vehicle and cheap price too. I am not sure how can I doing that. I mean if I want to buy a truck for maybe...$12k. My truck is currently $27k left to pay off. So....I am guessing that dealership probably will pay me $20k for my truck then I can pay $20k to my truck and I will still have $7k left to pay off my truck plus $12k for another truck. Right? Educate me. Any help would be great. Thanks.

 

[TREKER]

Tyler.... I am sorry to hear about this.... Think long and hard before you do this. If there is another way to keep it, do.... Its not that they are so hard to come by these days, but one day they will be very sought after...

If possible, get something very cheap and store / garage the SRT if you can. You are looking at a similar payment anyway...

Dont want to lose a NE member... Stick around....

 

[eddie102870]

try to sell it outright first, youll get taken on trading it in.

 

[VIPR PWR]

don't sell it to a stealership----you should be able to sell it and not have to still owe 7k ----sell it out right ---try shmebay also ,

 

[FATJACK]

I work at an RV Dealership and any time you try to trade down (for a vehicle of less value) you will lose your shirt. Sell your truck yourself.

 

[dragon]

sell your truck yourself you will make much better then a trade in.

 

[Kevan]

Sorry about the sale, Tyler.

Here's where to go:
www.autotrader.com

I think the listing with unlimited pictures/unlimited time is about $45.
It's a good deal.

I'd be happy to help you write the ad.

 

[DRamSrt10]

Tyler.... I am sorry to hear about this.... Think long and hard before you do this. If there is another way to keep it, do.... Its not that they are so hard to come by these days, but one day they will be very sought after...

If possible, get something very cheap and store / garage the SRT if you can. You are looking at a similar payment anyway...

Dont want to lose a NE member... Stick around....

I did try that and it would just add up to my bills. I have been thinking about it a long time. I will still thinking about it and see from there if it dont get any better then I will sell it. I really dont want to sell it either.

Yeah, I think I will try to sell it myself. I am going to post my truck in craigslist. I will try autotrader too. Kevan, that would be nice if you write the AD for me. Thanks!

 

[JTS VENOM PERFORMANCE]

I did try that and it would just add up to my bills. I have been thinking about it a long time. I will still thinking about it and see from there if it dont get any better then I will sell it. I really dont want to sell it either.

Yeah, I think I will try to sell it myself. I am going to post my truck in craigslist. I will try autotrader too. Kevan, that would be nice if you write the AD for me. Thanks!

Tyler here is how it would go bud , and its not very pretty.

you want a $12,000 vehicle.

You owe $27,000 on your current truck.

trade in on your truck hopefully $20,000 (they will use wholesale)

So... they will give you 20k on your truck take the remaining balance of 7k add that tothe 12k, plus the document and legal fee's you should come out owing 20k on a 12k vechicle that is worth probably 10k.

Its called being upside down in a loan.

Ya better off trying to sell it outright , even if ya have to take a small lose of a thousand or two.

 

[Django]

Tyler here is how it would go bud , and its not very pretty.

you want a $12,000 vehicle.

You owe $27,000 on your current truck.

trade in on your truck hopefully $20,000 (they will use wholesale)

So... they will give you 20k on your truck take the remaining balance of 7k add that tothe 12k, plus the document and legal fee's you should come out owing 20k on a 12k vechicle that is worth probably 10k.

Its called being upside down in a loan.

Ya better off trying to sell it outright , even if ya have to take a small lose of a thousand or two.

It pains me to say this.... But Stinker is absolutely right....

What's worse...? Being a coupla grand upside in a really great SRT-10 or being 10 grand upside down in a POS...........

Don't sell it to a dealer...... Yer only making your situation far worse than it is.... At the very least, you could look into refinancing your truck and reducing your payments that way..... The scheme you've outlined is like cutting off your nose to spite your face.... It's madness....

Good Luck and God bless....

D

 

[DRamSrt10]

Tyler here is how it would go bud , and its not very pretty.

you want a $12,000 vehicle.

You owe $27,000 on your current truck.

trade in on your truck hopefully $20,000 (they will use wholesale)

So... they will give you 20k on your truck take the remaining balance of 7k add that tothe 12k, plus the document and legal fee's you should come out owing 20k on a 12k vechicle that is worth probably 10k.

Its called being upside down in a loan.

Ya better off trying to sell it outright , even if ya have to take a small lose of a thousand or two.

Hmm..I understand how it work now. Ok, I am going to try sell it myself for $28k to pay my truck off. I would try to start saving up the money to buy my a car that is worth $5k. Lol. I just need a car for a transportion to my college. When I am finish with the college and get a job with good pay then I def will try find another srt10 truck. Thanks guys.

 

[milkmanedi]

maybe your credit union can refinance your existing loan?

 

[tidnab]

Question
You've gotta add 10% into the cost of buying another car... so
12K = 13200
18,000=19,800

what % rate are you getting on your current truck?? Mine's 0%... figure that math in too.. used car %'s are higher... ~6.5-7%....

so if you trade in your truck... +12K <assuming they give you 20K> that's 21K right there..<YES that's right they're going to tax you on it >


ok 21K @ 7%=415.83
or 29,000 @7=574.23
the diff is 160 bucks
what's ur current payment< I assume it's higher> but keep in mind if your % rate is lower you're paying off more principal every month...

Figure all this in before you trade or do anything...

good luck