Okay i bought this truck and now i realize that the notes are to much and i 'am about 5,000 upside down on the

Question

Okay i bought this truck and now i realize that the notes are to much and i 'am about 5,000 upside down on the note what can i do about this and sale and clear my name on it it"s a 03"ford f150 ex ccab xlt red with sun roof in houston tx.

Answer 1

should have though or that Before you signed the note
suck it up and pay your bills

Answer 2

trade it in for something with lots of rebates to absorb some of the 5000 grand. I sell cars it happens alot. Even to me i was 6000 upside down in my truck i traded it for a mustang when they had 4000 rebates.


yes i sell at a ford dealership in new orleans. being 6000 upside down it will be hard to absorb all of the 6000 grand but if you trade it in for i would suggest Mazda because they have large rebates it can pick up some of the slack for being upside down. Wait until the 30 or 31st of the month to go because most places are trying to make quotas set by the factory. Tell them you want to see the invoice when going to buy. for example if you trade in you truck and get 10000 for it and buy a car for 28000 it will bring it to 18000 but you have to add the 6000 that will bring it to 24000 the subtract 4000 for the rebate the car will be 20000. i know its still high but if you wait to trade it in the value will go down even more.

Answer 3

Try to sell the vehicle outright yourself. You will never break even trading it in. If you do trade it in trade it for an import. Imports have a slower depreciating ratio the domestic and you can recoup your loss quicker.

Answer 4

Trade it in for as much as you can.