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Need ideas on Selling 2019 Taco to minimize lien payoff

Rob50lx

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May 29, 2020
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So my GF would like to sell her 2019 Taco TRD Offroad double cab, long bed. She owes 37k and Carmax offered her 30k. She would have to secure a private loan to pay off the difference. She has no interest in buying something right now as I have an extra vehicle she can use. She really doesn't want the hassle of private sale but we wouldn't mind listing it and trying for a couple of weeks. Are there preferred sites to minimize crack heads and spammers? She is going to check with her credit union which is the lien holder to make sure she can get a non-secure loan. Are there any other options?

30K is the low end of Trade in value as stated by KBB.
Private party is 33k-35.7K
 
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A hit for $7000 almost sounds getting off easy for getting out from under a payment for a new truck in a very questionable time ahead.

Someone smarter than I can probably give better advice though. :homer:
 
It's going to be hard to make up $7K.. that sucks!! Sounds like she got a bad deal upfront.

I know it sucks, but I've had pretty good luck on Facebook Market place. I've sold a car, fourwheeler, and other crap at my own pace (waiting to find the right buyer/price).
 
For that kind of cash I can put up with quite a few headaches to not have an $7k loan for nothing. Whats your out of pocket number for being able to cover the difference without a loan? That should be your goal number.

Not sure the official best option, but around here tacos listed on the facebook overcrapping groups seem to move pretty quick. Sounds like that one would be right up their alley

Obligatory I'll give you tree-fiddy :flipoff2:
 
Used trucks are selling very well right now because new truck lots are sitting empty. List it with a ridiculous price and see what happens.
 
Did you guys throw it up on FB Market place for 42K so you can haggle down to 37K for the overland crowd?

Heh, there is that too. Roof top tent and a few Jerry cans. cha-ching
 
If looking for a personal loan to consolidate I’ve had good luck with Prosper the last few years. They’ve always had the lowest interest rates if you have decent credit.
 
snip/ but I've had pretty good luck on Facebook Market place. I've sold a car, fourwheeler, and other crap at my own pace (waiting to find the right buyer/price).
Market place is pretty easy to sell on since you can easily see who you are dealing with , very easy to block low balllers, scammers etc.... what you need to know is what the daily interest is and actual payoff if you payed it off today..
.. Very different then the end of the loan payoff.
 
There is such a huge disconnect in people's heads between what a vehicle is worth and what they owe on it. The two have nothing to do with each other.

To give my $.02 on the original question, to minimize the amount you have to come up with for the difference, sell it for as much as you can, duh! By going someplace like Carmax you're getting cash, plus not having to deal with retards. If you want to get more money, you'll have to deal with the retards, I'm afraid there is no good solution or advertising method to avoid that.

Or, maybe do some searching on here for past discussions where people are bragging about dealers giving them above what they paid to buy their trucks back, and follow their example? Plenty of us swear that's how it works these days :rasta:
 
[Insurance fraud]Put gap insurance on the truck, drive for a couple more months, total truck and walk away clean[/insurance fraud]

A hit for $7000 almost sounds getting off easy for getting out from under a payment for a new truck in a very questionable time ahead.

Someone smarter than I can probably give better advice though. :homer:

Make your dad pay the difference since he wanted to see you in the truck? :flipoff2:
 
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I would try other avenues if you don’t want to deal with a private sale. Contact some local dealerships and see what a they will offer.
 
Is there a way that IBB can help with the cause? Does GF have an onlyfans that needs a boost in support? :flipoff2:


put that shit in marketplace, it will sell fast. You’re out of crackhead budget territory
 
Look up toyotatrucktrader on instagram the prices that some people are asking for used toyota trucks is insane. I have no idea if they are getting anywhere close to that price but it would put you out to a national audience.
 
Why does she want to get rid of it?
can she afford the payments?

Might be better just to keep it and ride out the loan... especially if, after dropping another 7k, she ends up decided she wants a different vehicle than your loaner.
 
Thread derail incoming. How do you sell a truck like this to a private party? How do you protect yourself and the party buying the vehicle? Do you pay off loan get clear title then get money from the private party? What if private party backs out when you do this? Or do you get the cash from the buyer and use that to satisfy the lien? What protects the private party from you not satisfying the lein and fucking them over?

reason I ask is I have never purchased a vehicle that still has a lein from a private party. I am thinking about making a deal on one but not sure how to approach this
 
What happens after the breakup and she needs her own ride again? Or is that your plan to make her stay?

Joking, but not. It's something to think about.

She can't replace that truck for $37k. I'd keep it.

We need pics of GF in truck.
 
Thread derail incoming. How do you sell a truck like this to a private party? How do you protect yourself and the party buying the vehicle? Do you pay off loan get clear title then get money from the private party? What if private party backs out when you do this? Or do you get the cash from the buyer and use that to satisfy the lien? What protects the private party from you not satisfying the lein and fucking them over?

reason I ask is I have never purchased a vehicle that still has a lein from a private party. I am thinking about making a deal on one but not sure how to approach this

If the loan is held at a bank that has a local branch, you usually can just do it there. They will usually handle the title transfer. Agree on a price, go in and pay. If there is a balance the current owner would need to figure that out before. I did it with a motorcycle when i was younger and poor
 
Thread derail incoming. How do you sell a truck like this to a private party? How do you protect yourself and the party buying the vehicle? Do you pay off loan get clear title then get money from the private party? What if private party backs out when you do this? Or do you get the cash from the buyer and use that to satisfy the lien? What protects the private party from you not satisfying the lein and fucking them over?

reason I ask is I have never purchased a vehicle that still has a lien from a private party. I am thinking about making a deal on one but not sure how to approach this

Standard practice around here is to meet the purchaser at the lien holders office and make the payment to satisfy the loan to the bank and seller gets the balance, then bank fills out release of lien and sends title to the dmv for transfer/releases title to the purchaser. if purchaser is taking out a loan, it goes bank to bank. in this case seller would need to have truck paid down to the purchase price before starting the transaction for the lien holder to release the title
 
If the lien holder is local I have done it in person. I as the buyer. Also much easier if you have an account with the business.
 
Thread derail incoming. How do you sell a truck like this to a private party? How do you protect yourself and the party buying the vehicle? Do you pay off loan get clear title then get money from the private party? What if private party backs out when you do this? Or do you get the cash from the buyer and use that to satisfy the lien? What protects the private party from you not satisfying the lein and fucking them over?

reason I ask is I have never purchased a vehicle that still has a lien from a private party. I am thinking about making a deal on one but not sure how to approach this

It is simple, buyer goes to bank or online, pays owner/ the lien holders /bank with cash/check , the bank will release the lien if it is paid in full, then if you are the buyer will get the title , this all depends on what state you are in for doing title transfers.
 
^^This. The market is excellent for sellers right now, don't be lazy.

Is it really? Huh. I know the motorcycle market was freaking flooded for the longest time. I figured lots of large purchases like this would be difficult. :homer:
 
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