thinking about selling my truck...

[bonestock]

I am seriously considering selling my truck. Just not the right vehicle for the number of miles I have to drive now. I'm just throwing $ away with the miles I put on it. And I've grown to hate the auto trans. That said, Opinions on best places to advertise? Anybody have luck with ebay? I've had luck with craigslist in the past but only with cheaper vehicles. Any advice on selling a vehicle with a lien would be greatly appreciated! I know I'm going to eat some on the depreciation but trading in is the last option I want to use. Thanx again.

[upflying]

Describe what you are selling, where you are selling and the pay off amount on the loan

[HeavyDuty]

AutoTrader.com doesn't have the...site hits it used to, but I did get quite a few inquiries when selling the wife's Odyssey last August-September.

Craigslist had about 1/2 as many hits, and of those people, everyone tried to make an offer without even seeing it, needless to say driving it. Who makes an offer on a used vehicle sight unseen?

I did get an appraisal from CarMax, and for what it's worth, they offered $11,000 on it where I had trade in offers from $8,500-$10,500. That was really surprising.

[bonestock]

I've checked out carmax online. They only have half a dozen Pro 4x's nationwide. I may get a good offer. comparable trucks are selling for 28k. mine is a 12 with the lux package and lava red. nobody has one. Just hate to eat the extra $ on trade. I owe 28.5k. how much can I expect to eat?

[scott9050]

Any reason not to get a cheap beater 4 cylinder to drive back and forth and keep the truck?

Owing that much, you are going to get raked over the coals on trade.

[upflying]

Originally Posted by HeavyDuty

Craigslist had about 1/2 as many hits, and of those people, everyone tried to make an offer without even seeing it, needless to say driving it. Who makes an offer on a used vehicle sight unseen?

Those are the same folks who email to tell you have been chosen to hide $40 million dollars from the corrupt Nigerian government.

Originally Posted by bonestock

I've checked out carmax online. They only have half a dozen Pro 4x's nationwide. I may get a good offer. comparable trucks are selling for 28k. mine is a 12 with the lux package and lava red. nobody has one. Just hate to eat the extra $ on trade. I owe 28.5k. how much can I expect to eat?

You are upside down unfortunately. You owe a bit more than the truck is worth.
If you can sell the truck by breaking even, that would be a good deal.

[HeavyDuty]

KBB.com or NADAGuides.com has good trade in value information. Plug in your VIN, then select options, be realistic about the condition (only a new car is excellent) and you'll get an idea of what to expect.

The trouble about selling a used car in the same year it was sold, or even one year old is there's a *perception* that there's something wrong with it, otherwise why would you want to sell a new car?

I ran into the exact situation when trying to sell a one year old Altima SE-R and a same year FJ Cruiser TRD SE. Unless you got a hell of a deal on it new and put down a *considerable* amount when buying it you're likely to take a pretty big hit.

If you get a great deal with average credit on a 5 year term, your "break even point" is after the third year. If you go 6 year term, it takes four years to walk away from it without negative equity.

[07Nissan]

Originally Posted by bonestock

I am seriously considering selling my truck. Just not the right vehicle for the number of miles I have to drive now. I'm just throwing $ away with the miles I put on it. And I've grown to hate the auto trans. That said, Opinions on best places to advertise? Anybody have luck with ebay? I've had luck with craigslist in the past but only with cheaper vehicles. Any advice on selling a vehicle with a lien would be greatly appreciated! I know I'm going to eat some on the depreciation but trading in is the last option I want to use. Thanx again.

IMO, there's no wrong or right place to sell/advertise a vehicle. Personally, I've had great luck with Craigslist, cars.com, autotrader.com, eBay, and even for sale ads stuck on vehicle windows. One place worked great one time, another worked great the next--there's no magic bullet. Simply put, the more places you advertise, the more exposure you get. The more exposure, the better odds you have of selling your vehicle. IMO, advertising on Craiglist is a no-brainer--it's free! Yes, you'll spend more time sorting through BS inquiries, but that's the price you pay for free. I've purchased $20k vehicles on Craigslist. It's your choice.

As for selling a vehicle with a lien, unfortunately, it's a negative, especially for the buyer. The buyer has to pay-off *your* loan before they can receive the lien-free title from your loan company. This can take up to 3-10 days. Some buyers are not aware of the risks and have no problem doing so. Some are aware of the risks and will pass on your truck. It is what it is.

Chances are, trading-in, selling outright to a dealer, selling to Carmax, won't get you the best deal. But, you never know till you try. The only sure thing is, if you don't try, nothing will happen. Yes, you'll get low-ball offers that will hurt your feelings, but that's the price you pay to try and get the best price for your vehicle. Again, your choice.

Good luck!

[Suzokie]

Originally Posted by bonestock

Any advice on selling a vehicle with a lien would be greatly appreciated!

You will need cash available to cover the sell/owe difference.

You say that you owe $28,500. If all you can get out of it is $25K, you'll need to immediately be able to give your lender $3500 in addition to the buyers check for $25K in order for him to get a clear title.

I'd never do it, but a co-worker "sold" his vehicle to a buddy who makes good money but has terrible credit. (divorce/house fire/lost job in same year, not your typical deadbeat) Fortunately it worked out well, but its a huge risk.

If you don't have GAP coverage I'd suggest you look into it ASAP.

[JB'sFrontier]

how many miles are on it? post some pictures if you have any? I will say there is about 5k to eat up.