Can't give it away

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Jun 7, 2005 | 02:40 PM

hends5

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Can't give it away

Have a 2000 LTD V10 4X4 60K miles in excellent condition and we can't seem to give it away. We had it to tow our camp trailer and sold the trailer and planned on getting some kind of van. Dealers are only offering 14-16K trade and we tried selling it on our own (6 5 months) lowering the price to $18,500 and have only had one call on it. We owe around $22500 and planned on taking a loss but we can't really let it go for 14-16. Love it but isn't very practical for wife to drive anymore. We live in a small town 6 miles from a larger town and some days we have as many as 2-5 trips back and forth. I guess we are stuck with it

Jun 7, 2005 | 02:53 PM

Monsta

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Joined: Oct 2001

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From: Washington State

With gas prices the way they are people are staying away from large SUVs. Especially one with a V10.

Too bad...they are great trucks.

Jun 7, 2005 | 03:17 PM

cficare

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Joined: Feb 2005

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From: SEVA

Look at what they're selling for on eBay in an area close to yours. You're definitely upside-down on your loan amount ... meaning you have negative equity. I didn't pay much more than what you owe for a (then) 2 year old 2001 4x4 V10 LTD with 53K miles (paid $25K in early 2003).

Where I live, the economy is doing well. Several of my coworkers are enjoying this current lull in big truck prices, and they're steadily upsizing.

Jun 7, 2005 | 03:26 PM

Shad's EX

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From: WI

I am sorry to hear that.....Just to let you know the reason I am here on this forum is I bought a 01 2wd xlt leather,v10 w/29,000 mile for $16,500. back in oct. Good luck with your sale however the prices are coming down. I think these are great pull vehicles and can put a lot of peple and stuff in them.

Jun 7, 2005 | 03:46 PM

Coolstrategist

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Yes prices are soft. I bought my 2003 V10 Limited with dvd and 36K miles for $23,900 in December.

Jun 7, 2005 | 03:52 PM

JLMoreno911

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Unless you offer it as "take over payments" you are going to take a big loss...talk to your tax advicer and MAYBE the loss will be a plus on your taxes (just a thought)

Jun 7, 2005 | 06:17 PM

polarbear

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From: Damascus-Boring, Ore

Market's firming up a bit in the Nwst (I peeked at your profile), but they are soft compared to what they were 6-12 months ago. One big question to ask yourself is whether taking such a big loss is practical- those dollars would buy a lot of gas.

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Jun 8, 2005 | 11:20 AM

C_H_A

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Joined: Feb 2005

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I got my 2000 LTD Ex with 80K miles for $13500 back in March. It's also lifted and has Centerline aluminum wheels and a nice brush guard. Best vehicle purchase I have ever made & I did it without ever seeing the vehicle in person.
I'd go to eBay if I were you but I doubt you'll get what you owe out of it. Sorry.

Jun 8, 2005 | 01:07 PM

#10

fomoco_1

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Joined: Dec 2004

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From: Elm City,N.C.

Thats the downside of putting little or no money down and long term financing. If you are dead set on getting rid of it you need to take out a personal loan for the deficiency. A good rule of thumb is never finance a vehicle longer than 36 months.If the payment is too uncomfortable then you dont have enough down payment or should be looking at a more economical model. Good luck on the sell !!!

Last edited by fomoco_1; Jun 8, 2005 at 01:10 PM.

Jun 8, 2005 | 01:12 PM

#11

bcollinrogers

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My 2000 ltd 4x4 x with 68000 miles was bought in August last year for $16,900 and I thought it was a steal since they actuallly wanted $23,990. I guess the market is really dropping!!!?!?