Is this a fair trade?

[Tinkermc]

First off let me say I have no interest in what I am going to suggest, except it is a fellow membere here and I think a lot more truck. First a truck in Florida without air is no joke, it's pure hell. Look at c-10 oldschool's post for sale, a lot more truck and half price.

[67ChevyRedneck]

People keep mentioning "a lot more truck" and they're right. 12-15K should get you a really really nice SWB truck with a V8, PDB, air, PS, maybe even an LS and OD (or at least OD). 20K should get you a loaded show truck.

[thirdstreettito]

Thanks guys. That's what I was thinking, but like I said I'm rusty,

[special-K]

Well,you got plenty of confirmation now

Vehicles are a curse. Have you figured that out yet? I wonder where I'd be financially if I was a person who couldn't care less about what vehicle I owned. Having something "nice" is getting more and more expensive all the time (compared to salaries).

[67ChevyRedneck]

Originally Posted by special-K

Well,you got plenty of confirmation now

Vehicles are a curse. Have you figured that out yet? I wonder where I'd be financially if I was a person who couldn't care less about what vehicle I owned. Having something "nice" is getting more and more expensive all the time (compared to salaries).

I know the answer to that question... and I hate it

If it wasn't cars, it would be something else. At least my ONLY hobby is cars. I can't imagine how broke I would be if I smoked, drank, dipped, and was addicted to fast food.

[Grumpy old man]

the hardest working people you may see are alcoholics /smokers/recreational drug users , No money means no drinks and smokes .

[slikside]

Originally Posted by 67ChevyRedneck

I know the answer to that question... and I hate it

If it wasn't cars, it would be something else. At least my ONLY hobby is cars. I can't imagine how broke I would be if I smoked, drank, dipped, and was addicted to fast food.

Dead and broke!

[Elliot949]

My opinion is that truck is like a 6500-7000 truck...

[franken]

Well, as already mentioned, the truck is overpriced.
Next the deal makes no sense because the OP needs $20k cash to pay off the Mini to get the title after getting the $4.5k on the trade.

[Blue GMC]

Is this the new math everyone is talking about? I don't see a way that you won't be worse off in the future.I hope you are able to sell quickly and get something to get rid of the payments

[Grumpy old man]

It's amazing how the brain works ,and sometimes doesn't ... you can't sell what you don't own !

[litew8]

I'm guessing the guy with the truck did not know you still owe ($24K) on the mini loan. I have a bridge to sell, maybe I should call him.

[special-K]

The truck owner was ready to pounce because he'd have something worth the money and be getting rid of what isn't. Payments suck,but you do get something for it. Something you could never own w/o a loan. And,you do own it once the pay-off is less than the value. But it hurts you to back out too early. That's why I said stay the course. You are in it and it will be a while before you'll be out.
I bought my '92 new and had a loan. The loan was paid off by '95 and I've driven that truck 300,000+ miles with no payments for 19 years. I think that turned out pretty well.

[Vintage Windmills]

Only way I'd ever invest 20k into a truck is for a really clean survivor K20 or meticulously restored K20 both with nice options. Possibly a survivor k5 or the right survivor K10 swb. You can tell this truck was lacking attention to detail, especially in the engine bay. Look at the difference in shade of black there. I agree, truck is worth around 7500 or so.

Payments are a good thing if the interest rate is lower than what your money could be earning elsewhere.

[leddzepp]

You can't do any deal involving your vehicle since you don't own it, as previously stated. Even if you did I would pass on this truck. He would have been better off spending $$$ on air conditioning instead of air bags. The truck would appeal to far more buyers and in the end bring more money.

[litew8]

This might help some better understand. If you cannot afford the payments (contract/loan), and would like to rid yourself from them (the contract/loan you signed up for), selling the car/truck/etc... (the asset) outright to someone at cost (e.g. what you have left loaned or more) would then 1) enable you to pay off the loan and 2) pursue other options.

[leddzepp]

Yep, you can sell it and hopefully get out from under it if you have another vehicle to roll in while you look for a replacement.

[special-K]

You sell it for the pay-off,then you're out of debt and empty handed. Hindsight is 20/20 and the best decisions were to be made before buying. Now it has to be rode out,good or bad.