Truck sale/financing opinions wanted

[Jdonoghue]

I'm looking for some opinions here. I need to get a newer truck. I'm going to have to sell the '92 in order to have some cash for the down payment. I do not have good credit, so I don't know for sure if I can get a loan for what I want. Should I apply for financing through the dealer first, or sell the old truck first? I don't want to sell the truck and be left in a bad situation (no truck and not enough cash to replace it). On the other hand, if I get approved first, I'll only have a short window of time to sell the old truck. It's an old beater Michigan truck so I don't know if it would sell quickly.

 

[Bertram65]

Go to a couple banks or try an on-line lender. The dealers may be able to get you financing but more often than not they add a point or two to line thier pockets. If you have enough for a small downpayment then don't bother trying to sell your truck before buying, if it is not worth much selling it will probably not make a big difference in your payment and if you sell it you may feel more presure to get another truck quickly, look around for a while find your financing and truck without being presured.

 

[milehigh.o.]

Goto LENDINGTREE. COM. You will have an answer back in no time. They will tell you how much you can spend and what the rate will be. Most of the time there will be mor ethan 1 lender and you can pic the best deal for you. It is so easy and then you can walk into the dealer and just talk numbers not payment amounts.