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The time has come for me to sell my truck. It is to tall to load dirtbikes in.
I have had this truck only about 2 months and roughly owe 19K on it. I figure selling it I could get around 15K for it. But the loan/title is obviously in the banks name. How do I sell the truck/trade it in and not pay the remaining balance at once? Anybody done this before?
__________________ Early 99 F350 - CrewCab - 7.3L PSD
You can "roll over" the existing loan into a new one if you trade/purchase another truck, but I'm sure you know that you are "upside down" on the purchase. Don't mean to rain on your parade, but KBB.com shows a Private Party book value of about $10-12K for a '99 F350.
I'd look for an inexpensive trailer for the bikes.
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'06 Ram 3500 4X4 QC CTD 6sp LB
'01 F350 PSD 4X4 6sp Crew Cab (sold)
'68 F250 C/S 4X2 C6/428PI
Stidham 24' enclosed car hauler
Bunch of big old cars
In theory, practice and theory are the same.
In practice, they are not.
The time has come for me to sell my truck. It is to tall to load dirtbikes in.
I have had this truck only about 2 months and roughly owe 19K on it. I figure selling it I could get around 15K for it. But the loan/title is obviously in the banks name. How do I sell the truck/trade it in and not pay the remaining balance at once? Anybody done this before?
Take the lift off, and get some decent sized tires.
You'll take a lot of stress off the drive train, increase your fuel economy, and make so you can get the bikes in the back. You might even be able to sell the lift components.
In today's economy with fuel prices like they are, a lifted truck is a real liability. Looks cool, but god, you sure pay for it.
OMC
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Feb 03 6.0 Silver F-250 SD SC XLT long box, 6-spd 3.73ls, Fx4, Stock, Spray-in liner, Contico box.HARPOONED.
The time has come for me to sell my truck. It is to tall to load dirtbikes in.
I have had this truck only about 2 months and roughly owe 19K on it. I figure selling it I could get around 15K for it. But the loan/title is obviously in the banks name. How do I sell the truck/trade it in and not pay the remaining balance at once? Anybody done this before?
I have never known a bank to release the title until they are paid in full. If you are dead set on selling you will have to go and see if they will finance the remaining balance unsecured or get it from another source. If you have good credit it is pretty easy to get a 4k loan. That is a pretty big hit for two months of ownership. I would try to find some way to make it work for you without selling.
Dirtbikes are part of the reason i am selling the other is that I owe another 20K on my corvette. So I want to get rid of the truck and buy a cheap old toyota truck for dirtbiking.
__________________ Early 99 F350 - CrewCab - 7.3L PSD
You could try advertising the truck and line up a buyer for it. They get a loan for it or write a check to your bank, and you make up the difference it the amount is less than you owe.
If your loan is through a small bank or a credit union you can go in to see the president and explain that they have a PARTIALLY secured loan (truck is not worth the face value of the loan) and ask them to give you a loan on the balance the truck doesn't bring when you sell it as they would be no worse off than they are now. If it is through a big bank you will have to get a personal loan for the difference........
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05 Expedition 5.4 3 valve. (It does better in the mileage catagory on the interstate than my 6.0 EVER did!!!!)
GONE!!!!!!2003 F250 CC 4x4 <font color="red"> 6.0 PSD</font> 6 Speed, 3.73 XLT Dark Shadow Gray ,Moonroof, Camper Package, Skid plates ect. (Gutless PIG from idle to 1800) May 12th 03 build week. 122,000 miles as of 01/01/07......... 4" exhaust and AFE intake b&w turnover ball.
Flashed 6 times, EGR cooler replaced, VVRT solenoid replaced, Turbo Ped Replaced, EGR valve replaced 2X NO LEAKS!!! 8 new injectors, new fuel pump, new FICM, new ball joints, Exaust manifold gaskets, both front wheel bearing assy's, The list goes on and on!!!
Former trucks:
89 F250 2wd 7.3 5spd with 256K when sold
94 F250 4X4 IDI Turbo 7.3 5 spd 160K when sold
95 F250 S/C 4x4 PSD 5 spd with 146K when sold
00 F250 C/C 4X4 PSD 6 Spd with 126K when sold (160K now)
None of these trucks EVER spent a day in the shop!!!!
To cover the difference between the selling price and what you owe, you will either have to ask the bank to give you an unsecured loan, which will have a higher rate of interest, or if you have anything of value, you may be able to put it up for collateral to get a lower rate of interest.
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2001 F350 XLT 4X4, shift on the fly, 38 gal fuel tank, running boards, sliding rear window, black, crew cab, long bed, 4.10, automatic transmission, 11,500 gvwr, 20,000 gcwr, 7500 gvw, dual rear wheels, 7.3l turbo diesel, completely stock, 114,00 miles when purchased, now has 125,000 miles, repairs so far: starter, batteries, cps.
2005 Nomad Rampage toyhauler made by Skyline. 11,500lb gvwr.
To cover the difference between the selling price and what you owe, you will either have to ask the bank to give you an unsecured loan, which will have a higher rate of interest, or if you have anything of value, you may be able to put it up for collateral to get a lower rate of interest.
This is where the banks get stupid. They already have an unsecured loan so you would think they would just re figure the balance and adjust the payment. Damn it's nice to pay cash and not deal with this kind of garbage!! Paying myself a payment right now to a money market account and when their is enough in there i will write a check!!
__________________
05 Expedition 5.4 3 valve. (It does better in the mileage catagory on the interstate than my 6.0 EVER did!!!!)
GONE!!!!!!2003 F250 CC 4x4 <font color="red"> 6.0 PSD</font> 6 Speed, 3.73 XLT Dark Shadow Gray ,Moonroof, Camper Package, Skid plates ect. (Gutless PIG from idle to 1800) May 12th 03 build week. 122,000 miles as of 01/01/07......... 4" exhaust and AFE intake b&w turnover ball.
Flashed 6 times, EGR cooler replaced, VVRT solenoid replaced, Turbo Ped Replaced, EGR valve replaced 2X NO LEAKS!!! 8 new injectors, new fuel pump, new FICM, new ball joints, Exaust manifold gaskets, both front wheel bearing assy's, The list goes on and on!!!
Former trucks:
89 F250 2wd 7.3 5spd with 256K when sold
94 F250 4X4 IDI Turbo 7.3 5 spd 160K when sold
95 F250 S/C 4x4 PSD 5 spd with 146K when sold
00 F250 C/C 4X4 PSD 6 Spd with 126K when sold (160K now)
None of these trucks EVER spent a day in the shop!!!!
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