Selling My Truck on Payments? | How to Seller Finance a Car #Finance

my truck is a 2015 F-150 so we got to go and look at comps so let’s see what is out there on Craigslist I’m the bank based on the comps I’m looking at I think that my truck is probably worth you essentially can mess around with the numbers to a point where it makes sense

for both of you I’m gonna go crazy okay I’m I’m okay calling myself crazy in this situation and saying I might even be able to sell this truck for all right so as you can see right here Eric check this out out the window okay this truck has had its better days that happened on set

on Triple digit flip if I sell or Finance this vehicle I can leave the mirror just like it is if I sold this car for cash I don’t know what we’re gonna what what it’s worth

I don’t have no clue so we would have to look up on Kelly Blue Book which we’ll do it’s so funny a year ago somebody says to me is that a new truck I’m like no this thing’s like six years old seven years old and I I love this truck it’s been awesome but

it’s time for an upgrade I’ve had it for seven years it’s hit 150 000 miles it’s been all over the country been to a million seller appointments I know for sure I can always sell anything for more money on seller

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance and if you guys don’t know the F-150 Storey before go to a CashNews.co down below you can do anything in Creative text-decoration: none;">Finance I’m not going to make a single repair that’s the other cool thing about selling on seller Finance I don’t have to repair

this I’m giving some I’m the bank I make a determination of what the terms are and the terms are I’m not fixing a thing I’m not going to fix that mirror I’m not going to give you a discount on it you give me a down payment you’re making payment to me monthly you

got the deal I might even be able to sell this truck for double what it’s worth if I sell it on seller Finance depending on the interest rate I give the buyer so

it’ll be a good practice to watch us what we do okay so cars are really similar to houses because you’ve got comps right so let’s take a look at two things what we’re going to do is we’re going to look at what Kelly Blue Book thinks I could get for this truck my truck

is a 2015 F-150 super crab crew Platinum Platinum 4D 5 and whatever that is okay and um ooh 13 recalls dang that might not be good private party so it’s saying that I can sell this truck private party in the condition it’s in for probably twenty two thousand dollars let’s write

that down just real quick twenty two thousand bucks Delaney I’m gonna teach you something today okay private party means if I decide to sell my truck on Craigslist and I sell it directly from me to an end buyer somebody who else is going to drive the truck that’s a private party like an

individual versus a trade-in would be me going down to a dealership and saying hey let’s trade this truck in for like a down payment on my next car now it’s also saying I could TR I could trade it in for twenty thousand dollars right which doesn’t make sense I think that you

probably are going to get lower than that on a trade-in right now but whatever we’ll write that down in a second just because Kelly Blue Book says it’s worth twenty two thousand dollars that’s like Zillow saying my house is worth a hundred or two hundred thousand dollars we got to

go and look at comps so let’s see what is out there on Craigslist okay so let’s type in um F-150 2015 Platinum not even ooh that’s good news that means there’s there’s no competition right let’s just change it up for 2015. how about that 2015 F-150 okay 28 000

this one is the problem is look as a hundred thousand miles less than mine there’s one twin turbo that’s one’s really similar to mine forty four thousand dang maybe Kelley Blue Book is way off this one’s probably the most similar okay so they say EcoBoost I have an EcoBoost

24 113 000 miles twenty four thousand dollars Chandler so I’m thinking Kelly Blue Book is probably a little bit low based on what people are actually putting their stuff on for so on craigslist Kelley Blue Book says my truck is uh twenty two thousand dollars is what its value is Craigslist

based on the comps I’m looking at I think that my truck is probably worth I’d say 25 Maybe upwards of 27 000 based on the trim I have Platinum all that kind of stuff I could sell it right now cash for somewhere between let’s just say 22 000 to 27 000 right in that range okay

here’s what’s great about seller Finance if I choose to sell or text-decoration: none;">Finance my truck what do you think I could get well let’s base it on a couple of things so option A I could go thirty thousand dollars but I’m gonna be asking for like five thousand dollars as a down payment and I’m gonna say give me five

percent interest and I’ll give you let’s say four years to pay it off right that’s one way to sell that truck another way to sell that truck is go to option b where I say I want thirty five thousand dollars I will give you a thousand dollar down payment six percent interest and do

that payment over five years right you essentially can mess around with the numbers to a point where it makes sense for both of you so what are you looking for if you’re a seller me what I I don’t really care about the payment I care about winning at the very highest level so I almost

feel like I’m gonna go for 40 Grand right I literally think I’m gonna go crazy I think I’m going option C okay I’m going to go 40 Grand I’m going to ask for a twenty five hundred dollar down payment and I’m gonna ask for nine percent interest this is what

I’m going for and I’m gonna give them five years to pay it off what do you think kijano yeah I think the reality is that people who are looking for a property there was a huge vehicle shortage right right so people are hurting for a good vehicle so I think doing something like that

it’s a low barrier to entry and when you give people a low mail carrier to entry they’re willing to take one out of that gun there you go so I think I think that’s the thing is like I could get 13 000 more for my vehicle with interest involved if I’m willing to give somebody

a really low down payment in reasonable terms so like again there’s four parts to all of this and selling a house is no different okay you’ve got your purchase price that’s the first thing purchase price then you’ve got your down payment then you’ve got your interest

rate and you’ve got your length of term okay these are the four when people talk about terms those are the four main things people are looking for in terms what’s my purchase price well if you’re a seller and you want a really high purchase price well then you better be giving me

a really low down payment or no down payment if you want a really high purchase price then I want a reasonable down payment and a really low interest now I’m gonna go crazy okay I’m I’m okay calling myself crazy in this situation and saying I want a really high purchase price

I’m going to give you a really low down payment 10 would be four thousand dollars so if I ask for two thousand dollars down I’m asking for five percent down payment that’s really really low so I’m giving somebody a very reasonable down payment I’m asking for a crazy

interest rate okay crazy interest rate now we’ll see if somebody can afford the payments but that’s what I’m going to do and then what we’re going to do is then following up in CashNews.co number two is we’re going to field the phone calls and we’re going to set

up times to talk to these people and we’re going to see how easy it is to sell a truck that’s worth 22 to 27 000. for forty thousand dollars two thousand dollar down payment and you’re gonna watch me negotiate with this buyer the buyer that’s going to come in here and

they’re going to say well yeah the two thousand dollars make sense but the nine percent makes no sense to me that’s too high of an interesting okay great then give me a higher down payment and I’ll give you lower interest or give me a higher purchase price and I’ll give you

lower interest one of the two right the reality is we just got to bounce those four things back and forth until we finalize things so in CashNews.co number two we’re going to make the post we’re gonna field the phone calls take three or four of them and have you hear exactly what those

phone calls look like and then CashNews.co number three we’re going to show you what the paperwork looks like and we’re going to give that away to you guys so we’ll see you in CashNews.co number two