I just bought a Truck
#1
I just bought a Truck
I just bought a 97' F-150 . I got it from my father (he was about to lose it).
He bought this truck in 97, and this thing isnt even paid off yet! I believe he owes about 10,000 for it still. U guys think that I should get it refinanced and try to pay it off or should I just trade it in and let the dealer pay the loan off?
*edit* I think its worth about 8500 - I didnt find out his interest rate yet either - im pretty sure its the highest allowed by law ... lol
Thanks in Advance
Earl
He bought this truck in 97, and this thing isnt even paid off yet! I believe he owes about 10,000 for it still. U guys think that I should get it refinanced and try to pay it off or should I just trade it in and let the dealer pay the loan off?
*edit* I think its worth about 8500 - I didnt find out his interest rate yet either - im pretty sure its the highest allowed by law ... lol
Thanks in Advance
Earl
Last edited by fourty03; November-30th-2002 at 07:53 AM.
#2
hehe ... thats what I thought.
I just found out that the interest rate is around 24%
Im gonna go ahead and see if I can pay the principal amount on it (give them about $2000) and then trade that bi*ch for another mazda
Earl
I just found out that the interest rate is around 24%
Im gonna go ahead and see if I can pay the principal amount on it (give them about $2000) and then trade that bi*ch for another mazda
Earl
#3
Originally posted by fourty03
hehe ... thats what I thought.
I just found out that the interest rate is around 24%
Im gonna go ahead and see if I can pay the principal amount on it (give them about $2000) and then trade that bi*ch for another mazda
Earl
hehe ... thats what I thought.
I just found out that the interest rate is around 24%
Im gonna go ahead and see if I can pay the principal amount on it (give them about $2000) and then trade that bi*ch for another mazda
Earl
He's probably paid more than the sale price of the vehicle so far and he has anothe 10 grand to go (assuming he made all his payments on time. since you said he "was about to lose it" i have a feeling that may not be the case).
if you can get it refinanced and you need a truck then do it.
theres no reason ANYONE should be paying that much interest on a vehicle that old and cheap.
Last edited by biggyshake; December-1st-2002 at 10:33 AM.
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