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  #26  
Old 04-13-2006
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Originally Posted by HarryTasker
John,

Why not just refianance the truck through another institution?

How many more months do you have on the truck loan now? what was the orginal length? what is the interest rate?

What will the new rate be?

The real determining factor is how much interest you will pay on your current loan comapred to what it will be on the new loan.

Buying and selling a new truck will most likely eat up any savings you will get from refinancing.
I have thought about that alot. It will be paid off in Feb 07. So if I get the 14k for it I will keep about 9K in the bank then When I close on the house I will go out and buy a fullsize probably or a new ranger and either have the same payments (Full size) or less (Ranger) I can get the FX4 I want for about 26K and if I take 9K off that that is 15K and a three year loan at roughly 6% interest will equal 453 per month. Now if I put the same money down on a new ranger at 20K I will finance 11000 for a payment of 332 per month. Right now I pay $600 a month on a three year loan. If I was really attached to my truck I would just refinance but I kinda like the Idea of having a warranty again and if I get a ranger it will be the same thing. FX4 Level II in Dark shadow grey (So the topper will work).

I don't know if it doesn't sell for what I want It won't break my heart if I keep it. I like that little truck. I would refinance it then for a five year loan to get the payments low and then put it back on a 3 year level payments. Right now I have a 4% Interest rate and the used veicle rate now is pushing 7%, but I will do what I have to do.

~HJ
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  #27  
Old 04-13-2006
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Quote:
Originally Posted by HarryTasker
John,

Why not just refianance the truck through another institution?

.

it's about not having that loan on his credit report if I understand it right. That will get him a better rate on the home mortgage.
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  #28  
Old 04-13-2006
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Originally Posted by graniteguy
it's about not having that loan on his credit report if I understand it right. That will get him a better rate on the home mortgage.
If I can lower it to about 150 a month they won't care. Part of the problem is my Wife has an Expedition too, and we need to keep that. We can't get rid of that and then be stuck with only a two seat Ranger, not that I have kids but They will come. And I am not comfortable with her driving the Old explorer (My Plow truck) To work in the morning. She also made less last year as she was still in college and that hurt's us. It sucks because we can afford this house now but not last year. and the Government loans (Which I am a Hypocrite on these cause this goes against my principles, but I can't turn it down, I'm weak ) Base how much they will loan you off of last year's income minus your revolving debts (car payments, student loans, Credit card payments...) So to get ours down where they will be comfortable we need to be about $400 a month less. Buying a house is a big pain in the a**. I should have learned from the first one!

~HJ
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  #29  
Old 04-13-2006
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Originally Posted by HAZZARDJOHN
I don't know if it doesn't sell for what I want It won't break my heart if I keep it. I like that little truck. I would refinance it then for a five year loan to get the payments low and then put it back on a 3 year level payments. Right now I have a 4% Interest rate and the used veicle rate now is pushing 7%, but I will do what I have to do.

~HJ
IMHO keep the truck, and keep the loan, you will lose more money in interest. If you must sell it put it up for sale at 18K don't accept anything less then 15K, 16k if you include the topper.



Quote:
Originally Posted by graniteguy
it's about not having that loan on his credit report if I understand it right. That will get him a better rate on the home mortgage.
True,

But some banks/ credit unions, won't do a straight refinance, some require you add $1k or more to the loan. If he refinances through someone else hw will get a better interest rate.
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  #30  
Old 04-13-2006
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Originally Posted by HAZZARDJOHN
They offered me 13K for it on trade. Not sure if it is the same around the counrty but that is the going trade rate here.
That sucks..
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  #31  
Old 04-13-2006
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Originally Posted by NHBubba
That sucks..
Yeah I laughed all the way out of there. My 01 at trade they would only give me 8500. It was three years old with 60,000 some odd miles but are you kidding me? I ended up selling it for 11K The used vehicle market was a little flatter back then. Fallout from all the 60 month 0% interest loans the dealers were doing in 02-03

~HJ
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  #32  
Old 04-13-2006
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John, Back in August I slapped my truck on autotrader for 20,500 and a note saying the truck wasn't for sale at this time (long story as to why i did this, don't ask). I still got about 3 calls over 5 months from people interested in it.
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  #33  
Old 04-13-2006
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Originally Posted by HarryTasker
IMHO keep the truck, and keep the loan, you will lose more money in interest. If you must sell it put it up for sale at 18K don't accept anything less then 15K, 16k if you include the topper.
Yeah I need to do some real thinking. I upped the asking price to 16K and we will see if anyone calls. If I get an offer I will make my decision there.

Man being a grown up sucks! I want to go back to worrying about what time my cartoons are coming on!
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  #34  
Old 04-13-2006
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Originally Posted by HarryTasker
John, Back in August I slapped my truck on autotrader for 20,500 and a note saying the truck wasn't for sale at this time (long story as to why i did this, don't ask). I still got about 3 calls over 5 months from people interested in it.
Wow, I Love to hear that! I hope I got that kinda response.
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  #35  
Old 04-14-2006
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Quote:
Originally Posted by HarryTasker
John, Back in August I slapped my truck on autotrader for 20,500 and a note saying the truck wasn't for sale at this time (long story as to why i did this, don't ask). I still got about 3 calls over 5 months from people interested in it.
Calls are great.. but I'd be more impressed if you actually sold the vehicle or had serious offers. I dunno, I've never sold a vehicle through private party sale.. but I'm highly skeptical that I'd ever get that great a deal.. after haggling.

Not that I need it. I'd be perfectly willing to sell the vehicle quickly for $17 something than wait and wait and have it go for 18+. Simplicity is worth $1k here, in my opinion.

Right now my plan is to pay the truck off in early May. By then specs and ETA for the '07 models I'm looking at should be known. At that point I'll decide if I want to wait until fall for the 07's, or go for an '06 on some lot right away. Then I'll see what a dealer wants to gimmie in trade.

Besides, everyone's telling me I'll get more for my 4x4 in the fall than I will now in the spring.. despite the extra mileage.
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  #36  
Old 04-14-2006
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Bubba,

I probably wouldn't have been able to sell it that much, but it would have been a starting point I could have sold it for 16K or 17k easily when a dealership would have given me only 12k - 13k for it. Selling it private party is of course more work, but it is the better option the tiem spent selling it is definitely worth the thousands you will save.
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  #37  
Old 04-14-2006
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True.. just a lot of work.

16-17k is far, far more reasonable. Like I said, I'm not much of a haggler. I'd probably just set the price at 17k and try to do less BSing..
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  #38  
Old 04-14-2006
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The other point i was trying to make is that I deliberately set the price high and said I am not selling the tuck, yet people still called.
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  #39  
Old 04-14-2006
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Originally Posted by HarryTasker
The other point i was trying to make is that I deliberately set the price high and said I am not selling the tuck, yet people still called.
Yeah I am bummed 24 hrs and No calls! *Impatience setting in*

I got a call from the realtor lady and if I sell it I am eligible for an $8000 Interest free grant from the county (I will have to pay it back when I sell, but that will be years from now as this place is paradise for me) and a even better interest rate than before! So My payyments will be $900 a month! I pay 1300 right now! I was in awe when I heard that.

It is well worth selling the truck for that kind of Bread! I might even be able to afford a new fullsize and still be better off. I am going to hold on that until I get an accurate quote on the property taxes. The rest of this year I only owe the balance of the lot tax ($171 dollars a year) But starting in January I get the new tax appraisal and I am just guessing it will be aroung ($2500) with a house added to the property. So It is best to wait until January before I buy a 30K truck!
~HJ
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  #40  
Old 04-14-2006
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Quote:
Originally Posted by HarryTasker
The other point i was trying to make is that I deliberately set the price high and said I am not selling the tuck, yet people still called.
Alright.. I'll bite.. why the hell did you post this ad?!
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