Gq85 Posted January 31, 2009 Report Posted January 31, 2009 By raffle I mean sell tickets you know a raffle. It will require some effort in your part but it can be done. You just have to figure out how much to sell them for and how many you intend to sell. Winner get's truck and you with the money you collected pay off the truck. You can break even or even make a profit if you sell enough tickets.
alvitae Posted January 31, 2009 Report Posted January 31, 2009 that looks like the best choice but i don't know if anyone would bite the monthly payment of 500+, might as well try it. how would you go about transferring payments to other people? When some one else buys it they will A. Pay cash. B. Get it refinanced. the payments you are making now have no bearing on it. All that will matter to someone is the pay off on the loan you have.
jcro_61 Posted January 31, 2009 Report Posted January 31, 2009 What is the interest rate. Thats the biggest factor, if your interest rate is sky high, I doubt you will sell it, because depending on the rate maybe up to 65 bucks or so each month is principal and the rest is interest. So you end up owing more than the car is worth. Right now brand new cars are so cheap you will have a hard time to sell it at such a premium price, what I would do, is call the bank, talk to them and tell them hey we dont wanna get the truck repo but we cant afford it exactly, then work something out, even if you have to pay late, alot of banks wont even tell the credit bureaus you are late if its within 30 days know what I mean. I would try and cut back other exspenses to help pay for it. Buy less exspensive brand name food etc. Buy chicken instead of steak, buy pork instead of chicken, change your cell phone plans to cheaper ones and use them less, turn the heat in your house down or off during the day and wear a sweater. I mean it sounds ridiculous but tough situations call for tough solutions. However I wouldnt wanna let this turn out bad and hurt the credit in the long run. I went through this before with my last truck. Somehow I managed to keep the last 2 years of the loan paid on time by sacrificing other stuff so I could maintain my credit and not lose my car. Besides if they repo the car you still owe the money, so Id rather pay it and keep the car than pay it and not keep the car. 2015 Chevy Sonic CTX65cs - Image Dynamics 6.5" front CTX65 - Image Dynamics 6.5" rear Rockford Fosgate 3Sixty.3Rockford Fosgate PBR300x4Sundown SAE-600D Sundown SD3-10
kentb Posted January 31, 2009 Author Report Posted January 31, 2009 What is the interest rate. Thats the biggest factor, if your interest rate is sky high, I doubt you will sell it, because depending on the rate maybe up to 65 bucks or so each month is principal and the rest is interest. So you end up owing more than the car is worth. Right now brand new cars are so cheap you will have a hard time to sell it at such a premium price, what I would do, is call the bank, talk to them and tell them hey we dont wanna get the truck repo but we cant afford it exactly, then work something out, even if you have to pay late, alot of banks wont even tell the credit bureaus you are late if its within 30 days know what I mean. I would try and cut back other exspenses to help pay for it. Buy less exspensive brand name food etc. Buy chicken instead of steak, buy pork instead of chicken, change your cell phone plans to cheaper ones and use them less, turn the heat in your house down or off during the day and wear a sweater. I mean it sounds ridiculous but tough situations call for tough solutions. However I wouldnt wanna let this turn out bad and hurt the credit in the long run. I went through this before with my last truck. Somehow I managed to keep the last 2 years of the loan paid on time by sacrificing other stuff so I could maintain my credit and not lose my car. Besides if they repo the car you still owe the money, so Id rather pay it and keep the car than pay it and not keep the car. thanks for the good advice man. New System 2 10" Fi SSD, Sundown 1500d Build I build and design enclosures(cheap price), PM ME Kicker L7 Navigator(plexiglass, fiberglass, aeroport) Build BTL 18" Escalade(plexiglass, battery tray) Build http://www.kentbaudio.com Old System
camino_1to3 Posted January 31, 2009 Report Posted January 31, 2009 NOOOO, Raffle is bad lol. It's way too easy to end up not having as much money as you wanted/needed. That's all the input I can give you. Hope it works out man. Team T3 Audio Team Sundown Audio Team O.B.M Operation Beast Mode "Believe half of what you see and none of what you hear" wigglez that was a bit over the top, i dont want to invison dw giving any young lady a "cream pie" let alone "throat babies".
str86diesel Posted February 1, 2009 Report Posted February 1, 2009 Call the loan provider, be honest with them and ask for advice. They might have some outs in which won't kill her credit as bad as if it were repo'd 2k6 Dodge Ram 2500...CUMMINS POWERED - SOLD
Gq85 Posted February 1, 2009 Report Posted February 1, 2009 NOOOO, Raffle is bad lol. It's way too easy to end up not having as much money as you wanted/needed. That's all the input I can give you. Hope it works out man. Raffle is not bad. It just takes time and effort to do it-but it can be done I was just throwing him an idea. I seen a couple on the news the other day raffle their 1million dollar house they sold over 23K raffle tickets if I remember right. If it can be done with a 1million dollar home it can be done with a 20-35K dollar vehicle.
IAMBUMP Posted February 1, 2009 Report Posted February 1, 2009 Can you not refinance? You know that old homage "Honesty is the best policy"? That's holds true with banks like you wouldn't believe. Craigslist is free so that won't hurt to try. I put random shit on there all the time. Most doesn't sell cuz it's complete garbage but it's free...so I try. I think the best idea would be to call the bank, as about refinancing or any other options you may have available to you while you ARE paying the note. If you've been doing something for 20 years, does that mean what you do it right??? __________________________________ Want: 2x Phoenix Gold RSD65CS Comp Amp Undecided AA Havoc AQ 1200 knu wiring set scew lugs for all connections Alpine IDA-X303 2v preout --this goes under the seat. Have: Alpine tape deck w/ Benzi Box and 6 disc changer Check out my Toyota build
Team Nemesis-DJ Posted February 1, 2009 Report Posted February 1, 2009 i think i agree with Craigslist ......
sri3850341 Posted February 1, 2009 Report Posted February 1, 2009 you call the lender and tell them to renegotiate the fucking loan or else they can come get it!!!!!! 07 mote carlo.. deh-p800prs hu-cdt gold 6.5's-cdt 6x9 2 ways-mcintosh mc431m(mids/highs) bxi2608,2 10w7's in 4rth order(designed by pete k)ported into cabin via armrest cutout dc power 260 amp alt-missing link module (15.4v)kicker 1/0 kit deka intimidator under hood metered 141.0 @ 32hz windows down @ kick,termlab
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