Bankruptcy questions

[MP Kid]

That site is crap - it doesn't have a 2014 f350 Platinum 6.7 L diesel

Actually.. it does. You need to dig a bit further. Chose the F250, then down in the options it’ll give you the option to add for a 1 ton.

 

[pfi572]

Do you see f350 there

Yes I do .

 

[johnny cash]

I know it's going to be difficult to sell a low mileage high priced truck, but I think I'm going to list it on Kijiji[/QUOTE]

https://www.kijiji.ca/v-cars-trucks...t-silverado-1500-6-2l-high-country/1450114583
I would think around $42,000.00 value at best
I talked with a friend at owns Ford dealer the US market is not there due to border closed and the diesel market has dropped by at least $10,000.00 cause of that. I am looking for 3500 GM gas job

 

[kingcat162]

Actually.. it does. You need to dig a bit further. Chose the F250, then down in the options it’ll give you the option to add for a 1 ton.

Gotcha - guess I was just angry clicking and not looking my bad lol

 

[rknight111]

Also ask the bank if it’s possible for someone to take over payments ?
Going to take a huge loss if not as truck isn’t worth the $62 or even close to that .
Contact some wholesalers as well with the US dollar so strong .
Sorry man it sucks .

Im hearing in conversations that US buyers are having issues coming up here to collect vehicles due to Covid-19 restrictions, this will greatly impact the upcoming Richie brothers auction coming up as well for anyone other than Canadians. A fair amount of foreign buyers gobble up a lot the heavy equipment.

 

[Cyle]

Im hearing in conversations that US buyers are having issues coming up here to collect vehicles due to Covid-19 restrictions, this will greatly impact the upcoming Richie brothers auction coming up as well for anyone other than Canadians. A fair amount of foreign buyers gobble up a lot the heavy equipment.

That could be very good news for local buyers. But I bet anything Ritchies will figure something out with any large US buyers. May offer to store anything for free until this is over?

 

[rmk600700]

Sorry to the guys I’m trouble. I sincerely hope things pick up for everyone. However I think this may a change In the way people view debt or at least it should be. IMO nobody should finance 100% of a vehicle and be in so deep u can’t quickly sell unless u have the cash sitting somewhere else making interest at rate better then the loan to grab in case of emergency. I leased a truck when I was younger and after 3 years and $20k I gave it back. Nowadays $20k for 3 years wouldn’t be so bad but was a lot to me then. Halfway through the lease I wanted out but was stuck. Ever since I told myself I never want to be stuck with a payment again. Do I get the new truck itch every year? Absolutely! I am keeping my out for deals right now to replace my 8 year old truck but if nothing pops up I am cool with driving for a couple more years. Vehicles these days are built extremely well and should have no issue lasting if maintained. Like I said I don’t mean any negativity as I ah e been there and everyone’s situation is different but I see the young guys financing 100k for a truck and try to explain to them other options but I was young and didn’t listen to old my old man about a lease so it takes time to figure life out. Ok I’m done rambling lol.

 

[pfi572]

Wholesale is 47,125
Retail is 51,275
I was honestly hoping for about 10,000 more
But this does give me an idea of what it's worth here
Thanks

IMO
I wouldn’t even bother putting it on KIJIJI.
Ask around to wholesalers and save yourself the head aches .
You have to drive something and might as well be that for a few more months .

 

[ABMax24]

Wholesale is 47,125
Retail is 51,275
I was honestly hoping for about 10,000 more
But this does give me an idea of what it's worth here
Thanks

Do you have another loan you can postpone as well like a mortgage? I know mortgages accrue a lot of interest if they aren't paid for 6 months but it still might be better than taking a $10k+ hit on the truck.

Personally I would hold tough for a few months and see what happens, there are going to be a lot more people that struggle to make payments, lendors are going to do whatever they can to prevent defaults and I'm sure are going to be more than willing to come up with creative repayment plans. I also think a modified repayment structure with missed payments will look a lot better on a credit rating than a default.

 

[pfi572]

That could be very good news for local buyers. But I bet anything Ritchies will figure something out with any large US buyers. May offer to store anything for free until this is over?

Exactly
If it wasn’t for internet buying right now it would be gross for sellers .
GP sale went light on the yellow iron but other things went okay . IMO

 

[Stompin Tom]

Wholesale is 47,125
Retail is 51,275
I was honestly hoping for about 10,000 more
But this does give me an idea of what it's worth here
Thanks

Id ride out the payment deferral. Nobody knows where we end up in 6 months. Maybe were all dancing in the streets and life is good, or maybe the banking system collapses and you get to keep your truck. I would not be trying to sell anything at this point.

 

[Stompin Tom]

Exactly
If it wasn’t for internet buying right now it would be gross for sellers .
GP sale went light on the yellow iron but other things went okay . IMO

I didnt follow the yellow iron, didnt want anything, but was watching a bunch of other stuff just in case there were some deals. I didnt see anything I would consider a deal. I thought prices were very strong considering the current economic crisis.

 

[pfi572]

I didnt follow the yellow iron, didnt want anything, but was watching a bunch of other stuff just in case there were some deals. I didnt see anything I would consider a deal. I thought prices were very strong considering the current economic crisis.

Scrapers went for dirt cheap . Some D6T’s went light .
D8t, $110 ish and less . 11400 hour machines .
Some hoes went light I thought .
Ex. 329 rigged up with everything and 4000 hrs . Real clean $129 Trucks went good

 

[Trashy]

IMO
I wouldn’t even bother putting it on KIJIJI.
Ask around to wholesalers and save yourself the head aches .
You have to drive something and might as well be that for a few more months .

I have a company truck for weekdays and work. I believe it just turned 13K on the odometer and I don't drive it every weekend. (too hard on back tires. LOL)

Do you have another loan you can postpone as well like a mortgage? I know mortgages accrue a lot of interest if they aren't paid for 6 months but it still might be better than taking a $10k+ hit on the truck.

Personally I would hold tough for a few months and see what happens, there are going to be a lot more people that struggle to make payments, lendors are going to do whatever they can to prevent defaults and I'm sure are going to be more than willing to come up with creative repayment plans. I also think a modified repayment structure with missed payments will look a lot better on a credit rating than a default.

The main reason, I did the truck deferral only. I Bought with zero % financing and agree with your second paragraph

Id ride out the payment deferral. Nobody knows where we end up in 6 months. Maybe were all dancing in the streets and life is good, or maybe the banking system collapses and you get to keep your truck. I would not be trying to sell anything at this point.

I quoted the 3 of you, because of your replies.
Thank you!!!
I hope that anyone else in this situation has the opportunity to read this thread in it's entirety.

 

[Cyle]

Exactly
If it wasn’t for internet buying right now it would be gross for sellers .
GP sale went light on the yellow iron but other things went okay . IMO

Dang was hoping prices would be coming down, but pickups are never cheap at Ritchies. I think there's just too many people with money around for prices to drop any amount.

 

[pfi572]

Dang was hoping prices would be coming down, but pickups are never cheap at Ritchies. I think there's just too many people with money around for prices to drop any amount.

Yeh a lot of people in Alberta have money and not worth anything in the bank .
Most of the equipment stayed in Alberta at GP sale.
The 2019 CC 3500 GMC 4x4 service trucks sold for over $50

 

[Cyle]

I have a company truck for weekdays and work. I believe it just turned 13K on the odometer and I don't drive it every weekend. (too hard on back tires. LOL)


The main reason, I did the truck deferral only. I Bought with zero % financing and agree with your second paragraph


I quoted the 3 of you, because of your replies.
Thank you!!!
I hope that anyone else in this situation has the opportunity to read this thread in it's entirety.

0% financing is a selling point, I would check with lender if someone could takeover financing. If so selling to someone who can takeover can get you more then truck is worth. Let's say the 0% would save $8k interest over life of loan, you could try and get say half of that back. Obviously this option would only work if you could offer cash for what you're upside down on it. Doesn't hurt to see if you get any interest and if nothing great just wait this out a few months.

 

[Trashy]

0% financing is a selling point, I would check with lender if someone could takeover financing. If so selling to someone who can takeover can get you more then truck is worth. Let's say the 0% would save $8k interest over life of loan, you could try and get say half of that back. Obviously this option would only work if you could offer cash for what you're upside down on it. Doesn't hurt to see if you get any interest and if nothing great just wait this out a few months.

This is really good advice, thank you

 

[Trashy]

I can not transfer a 0% interest loan from the dealership

 

[freeflorider]

Scrapers went for dirt cheap . Some D6T’s went light .
D8t, $110 ish and less . 11400 hour machines .
Some hoes went light I thought .
Ex. 329 rigged up with everything and 4000 hrs . Real clean $129 Trucks went good

Ha ha you liked that 329 with the top con on it for $147,500. Thought it was a good deal too lol. The cats went a little light but no super deals over all there. Waiting for Edmonton next, over 200 hoes and some nice service trucks....we will see.