I have a 03 ford f-150 ex cab and i owe more than what it is worth trade in value so to speak . I wanna sell it and i boughtit from a used dealer and iam financing through a bank ........ i need some help i cant just trade it in cause iam upside down on the trade and i will still owe as much as i do even worse so what can i do?
2006-06-16 12:49:16 · 8 answers · asked by lovlisuzy51880 1 in Cars & Transportation ➔ Buying & Selling
Set it on fire.
2006-06-16 12:52:26 · answer #1 · answered by parshooter 5 · 2⤊ 0⤋
You could sell it to a private buyer for what you have into it, plus they pay off your loan to the bank. A dealer will never give you what the vehicle is really worth as a trade in. Deal with private parties only, and when you purchase another vehicle, make sure you have a good mechanic look it over before you purchase it. You have to consider the value of the use of the vehicle for the period you owned it too, when selling to a new buyer, so if you bought it for say, $10,000, have owned it two years, and you still owe $5,000.00 to the bank, you would ask them to pay the $5,000.00 to the bank plus $3,000.00 cash to you, and figure you paid $1,000.00 a year for the use of the vehicle in the end.
Hope this helps.
2006-06-16 13:06:38 · answer #2 · answered by barbimine 1 · 0⤊ 0⤋
Unfortunately, you're just going to have to live with it until you're no longer upside down on the note.
You might consider trading down. You'll still be upside down, but your debt and the monthly payments might be more manageable.
2006-06-16 12:56:30 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
I am sorry to say, but cars are a very poor investment. What I would do if I were you: Go to your bank and see if you can get it refinanced. It will lower your monthly payments, but you will have to pay longer. That is what I did, and I actually ended up saving like $4000.
2006-06-16 12:55:18 · answer #4 · answered by jessec 2 · 0⤊ 0⤋
suzy, your answer might be in the purchase of a new vehicle, with rebates and incintives a good dealer might be able to wash you out of that bad loan and absorb it into a lower interest new loan , I noticed you are in Houston , I worked for many years at a Popular Houston Dealership ,,towards the end of the month , quotas have to be made and deals are easier to get,,Feel free to e-mail me !!!!
2006-06-16 13:07:45 · answer #5 · answered by john l 5 · 0⤊ 0⤋
got insurance??
got any cliffs near your house??
you know you'll just get a new truck...lol
2006-06-16 12:53:13 · answer #6 · answered by alfjr24 6 · 0⤊ 0⤋
You need to find some more money, dear!
2006-06-16 12:53:02 · answer #7 · answered by Texas Cowboy 7 · 0⤊ 0⤋
go to cartrader.com andput your car on there
2006-06-16 12:54:25 · answer #8 · answered by Anonymous · 0⤊ 0⤋