F/S 05 Red Brawn CC SE....Maybe

SickWhip · 04-15-2005, 08:45 AM

I have to try to sell my truck. We are buying a house in a few months and money is always tight moving into a new place. This will be my first home, so I'll need al the extra money I can get! To make matters even worse (Figure of speek of course) I am getting married on May 7th. The sticker price for my ride was $29,010. I owe $26,500 on it. Let me know what you guys think is a FAIR price. I've only had it since 12-31-04. Mileage is just under 6,000. I'll try to get some pics this weekend.

2005 Red Brawn Crew Cab SE
Utility bed package
Floor mats
Wheel locks
plus I have (2) Sony Xplod 10" subs mounted under the rear seats. System is all ready to play, just missing the amp.

TOK · 04-15-2005, 09:58 AM

Quote:

Originally Posted by SickWhip

I have to try to sell my truck. We are buying a house in a few months and money is always tight moving into a new place. This will be my first home, so I'll need al the extra money I can get! To make matters even worse (Figure of speek of course) I am getting married on May 7th. The sticker price for my ride was $29,010. I owe $26,500 on it. Let me know what you guys think is a FAIR price. I've only had it since 12-31-04. Mileage is just under 6,000. I'll try to get some pics this weekend.

2005 Red Brawn Crew Cab SE
Utility bed package
Floor mats
Wheel locks
plus I have (2) Sony Xplod 10" subs mounted under the rear seats. System is all ready to play, just missing the amp.

Selling a vehicle less than 3 years old is where you always take a beating on price. I don't know the value of your Titan, but maybe someone on the board will see it and know it's been loved.

If it's any help, I think you are doing the right thing. I lived in an apartment for almost 10 years before I worked up the nerve to take the huge plunge of buying a house. I been in here 3 years, you learn to spend wisely, and things stabilize. Now I'm kind of kicking myself in the butt for renting all that time.
It's great to see your money work for you and actually have something that goes UP in value by a few thousand every year.
I wish you the best of luck!

SickWhip · 04-15-2005, 04:16 PM

Thanks for the support TOK. Its been so hard for me to even think of giving her up. But family comes first. Does anyone have any suggestions on how I can get the most for my trade?

SickWhip · 04-18-2005, 06:15 AM

125 views and no one else has any advice for me.

docopharm · 04-18-2005, 06:21 AM

I've sold three cars on autotrader.com. It's like $25-30 with a pic and runs till it's sold. All three have sold within 2wks of when I posted them. I've found the best method is to check edmunds and kbb just to get an idea of what range, then look at the autotrader site and see what they are selling for within about a 500 mile radius. That should give you a pretty good indication of what you should ask.

Good Luck and congrats on the new house!!

SickWhip · 04-18-2005, 02:49 PM

Thanks Docopharm, I tried kbb.com, but didn't have an option for 2005 models. And what if I sell it for 24 of 25,000. How does it work out with the remaining balance. I have to keep making the payments until I pay that off right. And how do I get the title for the truck from Nissan to give to the buyer?

*jhromy* · 04-18-2005, 03:03 PM

you will have to pay the whole truck off and then when you receive the title sign it over to the buyer of your truck...if you cant get what you owe you might as well hold onto it

Justintoxicated · 04-18-2005, 03:25 PM

I wish I didn't have to rent but there is no possible way I could afford a house in Cali!

kvoman · 04-18-2005, 03:42 PM

Sickwhip -

Don't sell, you'll take a big hit. Get a pre-approved loan for your house first. That way you know exactly how much you guys can buy while still keeping your truck. Plus, you'll need the truck to buy and haul material for your house anyway. New or old house, there's always a need for a truck. Plus, once you sell the truck, you'll still need to buy another car anyway for work/commuting?

Don't know about the housing market and loans in AL but here in CA, you can buy a house and finance it 100% (not even a dime down). All you have to do is make a little higher payment the first year. You can even buy a house with negative armortization loans!!! Two of our friends did that here in CA with negative armortization loans (finance it based on expected equity build-up in X years). No matter what you do the first year, it'll be tough. If you can stick it through the first year, you'll be fine.

If you decide to sell, you'll never be able to get what you owe on it because the first two/three years of the loan, you're upside down on your loan.

Good Luck.

kvoman · 04-18-2005, 03:46 PM

Quote:

Originally Posted by Justintoxicated

I wish I didn't have to rent but there is no possible way I could afford a house in Cali!

Justintoxicated - sure anyone could afford a house in CA as long as they are willing to sacrifice!!!

You know that!!! Looking at your ride & your toy, that's at least half a year to a year of mortage payments there!!!

PHOEBISIS · 04-18-2005, 05:02 PM

Keep it.It will cost you about $5000 to sell it.A new 2005 like your's will cost a little less than you owe-say $25500-$26,000.The best you can get for it is $21000-$23500.The absolute best price you could get would be about 90% of a good,local price.
The only way to sell it for under what you owe is to BORROW the difference,otherwise you can't get the title.They will also screw you on the loan-charging higher interest since it will no longer be backed by a new vehicle.
Since selling it won't get you any cash,Just live with it and get some use out of it.Sorry,good luck,Charlie

Optimist · 04-18-2005, 05:38 PM

I agree w/ Phoebisis
Have you considered asking for a seller contribution? With a strong appraisal & some good negotiating skills a seller contribution of up to 6% can get you into the house with less initial down. You do need to consider you are still paying the difference through your mortgage & your tax is reflective.

docopharm · 04-19-2005, 12:05 AM

Quote:

Originally Posted by PHOEBISIS

The only way to sell it for under what you owe is to BORROW the difference,otherwise you can't get the title.They will also screw you on the loan-charging higher interest since it will no longer be backed by a new vehicle.
Since selling it won't get you any cash,Just live with it and get some use out of it.Sorry,good luck,Charlie

Yep, he's right there. You either have to get an unsecured loan or pay cash for the difference to get the title. You can't just keep paying on it unless you're willing to keep paying the insurance also and accept liability for whatever the next owner does (obviously not a good idea). I don't know what your housing situation is but if you could get a home equity loan bundled with your mortgage, you could use that to pay off the truck. Your payments would be lower, the interest is usually tax deductable and should you decide to sell, you'll have your title ready to go. Might be worth checking into.

SickWhip · 04-19-2005, 06:29 AM

Thank you to all that shared your wisdom. I totally agree that I will find a need for the truck after purchasing a home. I would love to do what docopharm was talking about, but I don't know exactly how that would work. I actually have a friend that payed off his truck (owed 11,000 on it) at the time of purchasing his first home. But he doesn't know how or what happened. His parents did it all for him. They sold him the house after his grandfather died. They sold it to him for way cheap and also gave him a huge gift in equity.

Justintoxicated-I know exactly what you mean about purchasing a house in CA. I used to live there (Santa Cruz) and the homes there where crazy expensive!

dragonhead08 · 04-19-2005, 07:48 AM

Try San Ramon. You pay half a miliion for a tool shed these days. It's almost as bad as San francisco.