Possibly selling My Level II
#26
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.
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 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
#27
#28
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.
~HJ
#29
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
~HJ
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.
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.
#31
Originally Posted by NHBubba
That sucks..
~HJ
#32
#33
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.
Man being a grown up sucks! I want to go back to worrying about what time my cartoons are coming on!
#34
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.
#35
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.
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.
#36
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.
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.
#39
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.
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
#40
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