Anyone know this truck? (1 Viewer)

[G-Cat]

I know you have all seen it.

http://www.sleeoffroad.com/for_sale/forsale.htm

I just wonder if anyone knows this truck. Subtract high blue-book (NADA) from the asking price and your looking at paying just over 10k for all of the goodies. Seems like a smokin' deal (I'm not in the market) so I wonder why it's still available?

-Garth

 

[Shortbus]

I'd guess because it'd be a beeatch to finance, and there aren't that many folks walking around with wads of expendible cash right now. If I had cash fallin' outta my a**, I'd love to have it.

 

[Junk]

You'd have to ask someone who was in the market. Seems like most find this site and Christo's after they arleady buy their truck.

 

[Asiarider]

[quote author=Junk link=board=2;threadid=10085;start=msg89780#msg89780 date=1074022183]
You'd have to ask someone who was in the market. Seems like most find this site and Christo's after they arleady buy their truck.
[/quote]

You are right but Garth1 can now make a lot of advertisement so that the rig will be sold.

BTW, it is a nice rig

Mike

 

[G-Cat]

I would think that financing it is the upside to this truck. Going through Capital-one (formerly peoplefirst.com) you can get a used car loan for 4-7% which is usually better than you can do at a dealership (especially if your buying used). It would make more sense, to me, to finance this truck (as is) at a low rate then to buy a truck and throw the goddies on the credit card. I understand that most save up and/or add one mod at a time to avoid being car-broke, but it seems that you'd come out ahead (in the long run) by getting a truck like this.

-Garth

 

[shocker]

Problem is that most, if not all, banks will ONLY give you KBB trade in value for a loan, maybe a little more.

In this case, it'd have to be someone with a loan plus $15k or so more, unless he had a house or something to use as collateral.

 

[Landpimp]

why don't you ask the seller to finance it.............seeing how he works at or runs a car lot!
http://unitedauto.com/

sellers email
bmerdovic@unitedauto.com

that is a pretty nice 80.

there is some asshat up my way with a 96 with a few things on it(nothing worth a crap) he is asking something like $45k!!! dude needs to get a grip on reality, looks like a 20k or less 80 to me, but the miles are low at 26k.

 

[GXO]

Everyone ignore it...still working on the wife to let me =)

 

[G-Cat]

No bank needed. Capital One (peoplefirst.com) will make you a used car loan (minimum $7500) without ever asking about the make/model/year/condition of the car you buy. Several LSLC members have used them (and gotten rates between 4-7%) to buy Cruisers. I am currently paying off my '77 FJ-40 with a peoplefirst.com loan. I think blue-book is around $1500 and my loan is for CONSIDERABLY more. I could apply for a loan for the 80 in question and deliver a check to the seller within a week or so. Don't you ginks use peoplefirst.com?

-Garth

 

[Junk]

Only pay cash here, but then again I got none so will be buying none.

 

[Asiarider]

[quote author=Junk link=board=2;threadid=10085;start=msg90084#msg90084 date=1074054696]
Only pay cash here, but then again I got none so will be buying none.

[/quote]

Junk,

if you pay cash I have a very nice VX Limited here with full options, locked in the perfect two-tone color for only 30K$. You just have to put your swampers on and everybody will be jealous and you will double the chick-rate.

Mike

 

[Landpimp]

What is Capital One if not a bank?
I don't trust a place that would give you $7500 for a car without knowing what it is..........something is fishy, don't they ask for a VIN or something? what is there colaterall? I also question the wisdom of financing a $1500 car for $7500......but to each his own, I would assume they require full coverage insurance as well.

John H


[quote author=Garth1 link=board=2;threadid=10085;start=msg90082#msg90082 date=1074054573]
No bank needed. Capital One (peoplefirst.com) will make you a used car loan (minimum $7500) without ever asking about the make/model/year/condition of the car you buy. Several LSLC members have used them (and gotten rates between 4-7%) to buy Cruisers. I am currently paying off my '77 FJ-40 with a peoplefirst.com loan. I think blue-book is around $1500 and my loan is for CONSIDERABLY more. I could apply for a loan for the 80 in question and deliver a check to the seller within a week or so. Don't you ginks use peoplefirst.com?

-Garth
[/quote]

 

[CDN_Cruiser]

CapOne probably doesn't care about the car as collateral - they way they operate is they use detailed models to model YOUR risk - they're making a call on you, not the car. It's the same strategy they used with cards (also unsecured debt) - they can customize the amount of credit, rates, etc to account for this.

Cheers, Hugh

 

[G-Cat]

Yes, Capital One is a bank. You apply for the lone on-line, and are approved according to your credit. A check (that can be made out for an amount from 7500 to the amount you applied for and were approved) is mailed to you with an information packet/instructions. You and the seller go to a Mailboxes Etc. to sign over the title, make out the check etc. and have everything notorized. It is then faxed to the folks at peoplefirst (Capital One) for approval...this takes about 15 minutes. Then the seller departs with his check and the buyer departs with his vehicle. As far as I can tell, the bank is gambeling solely on your credit rating. They saw a need for a no-hassle, low-interest used car loan and have filled the need with this service. The president of LSLC-Austin has financed two used 80-Series this way, and I purchased a nicely modified (H55F, Rebuilt 2F, F/R Lockers, 4.56s etc.) FJ-40 using peoplefirst.com (now Captial One). I carry liability only through State Farm. Nothiong fishy with this deal. There is also a used car lot south of Dallas that speciallizes in Toyotas (usually has 40-50 4Runners, plus Siennas, Tacos and RX300s) who prefers Capital One over any other form of payment and the owner says one of her customers got a used car loan on a Runner at 3.5%!

As far a blue book goes, isn't it quite low on a large portion of your hoard? I realize that there is a blue book for vintage/collector's vehicles, but am not educated as to whether these old Cruisers qualify. I do know that there was no problem getting a loan for my '77, at a very good rate and, since it's my only car payment, I find it a great way to buy a Cruiser.

BTW, you can apply for a loan, have them send you the check and packet, but are under NO obligation to use the loan. The check expires after 3-4 weeks, IIRC. As far as I can tell, it's just a good service...true, it might bite 'em in the arse once in a while, but I'll bet they're coming out ahead overall!

-Garth

 

[Bradass80]

I don't know about Garth but when i went through peoplefirst to buy my cruiser the contract specifically stated that the title was to be mailed to them as soon as the transaction was completed, so yes there is colaterall, they were pleasent to deal with though, Brad.

 

[shocker]

They'd have to require appraised insurance or something to cover them in the event of vehicle theft or total loss, wouldn't they?

For example, you pay $7500 for an fj40 that the insurance company will only give you $2500 for. What would happen if it gets stolen, lost in a fire, totalled, etc...? Obviously, Cap 1 would still want you to finish out the loan. Obviously, you would not.

 

[Landpimp]

Intersting.

Blue book don't make a difference on any of my Cruisers, I paid cash for all of them and actaully many were bought for below book(but your right, no book on the 45's) but the 40's, 60, 62, 80 yes there is book value.

book on the 82 fj40's in $7755(high retail) I paid 5k for each of them, try to buy a sweet 82 fj40 for 7-8k...........good luck. 90 fj62, book is 7k, paid 5k.
72 El Camino(mint 26,000 miles), high retail is 20k! hmmm I paid 3k and it came with a boat For most of these I had to fight with the DMV about what I paid, see they now charge sales tax bashed on book value not what you paid, so they all needed alot of work(lol)

fj60, 7k but it was perfect with 92k on it, bought at the height of the market 4 years ago

paid 4k for the 45 long bed, paid $2200 for the 45 wagon......I think I'm OK on those

I will prolly finance a 100 series, just cause I don't like parting with 30k+ cash and rates are low.

But yeah I suppose Capital One has a place and it does sound like a good service.

Not trying to get into a pissing match, just didn't know how the Capital One program works.

John H

[quote author=Garth1 link=board=2;threadid=10085;start=msg90299#msg90299 date=1074097583]
Yes, Capital One is a bank. You apply for the lone on-line, and are approved according to your credit. A check (that can be made out for an amount from 7500 to the amount you applied for and were approved) is mailed to you with an information packet/instructions. You and the seller go to a Mailboxes Etc. to sign over the title, make out the check etc. and have everything notorized. It is then faxed to the folks at peoplefirst (Capital One) for approval...this takes about 15 minutes. Then the seller departs with his check and the buyer departs with his vehicle. As far as I can tell, the bank is gambeling solely on your credit rating. They saw a need for a no-hassle, low-interest used car loan and have filled the need with this service. The president of LSLC-Austin has financed two used 80-Series this way, and I purchased a nicely modified (H55F, Rebuilt 2F, F/R Lockers, 4.56s etc.) FJ-40 using peoplefirst.com (now Captial One). I carry liability only through State Farm. Nothiong fishy with this deal. There is also a used car lot south of Dallas that speciallizes in Toyotas (usually has 40-50 4Runners, plus Siennas, Tacos and RX300s) who prefers Capital One over any other form of payment and the owner says one of her customers got a used car loan on a Runner at 3.5%!

As far a blue book goes, isn't it quite low on a large portion of your hoard? I realize that there is a blue book for vintage/collector's vehicles, but am not educated as to whether these old Cruisers qualify. I do know that there was no problem getting a loan for my '77, at a very good rate and, since it's my only car payment, I find it a great way to buy a Cruiser.

BTW, you can apply for a loan, have them send you the check and packet, but are under NO obligation to use the loan. The check expires after 3-4 weeks, IIRC. As far as I can tell, it's just a good service...true, it might bite 'em in the arse once in a while, but I'll bet they're coming out ahead overall!

-Garth
[/quote]

 

[firetruck41]

I used Peoplefirst.com, now bought out by Capital One, to buy my 93 LC. Worked great, they sent me a blank check, complete the transaction at a Mailboxes, Etc. where they ensure you complete the paperwork, and notarize everything, and that's it. You provide proof of insurance and they get the title, but like someone said they are really banking on your credit, not the vehicle, as they don't care what you buy or what it's worth. It's definitely a good way to go when buying a low bluebook value type vehicle and the interest rates are low too.

 

[Safado]

I've used them twice....Great to work with and VERY easy to get everything set up.

 

[CDN_Cruiser]

[quote author=shocker link=board=2;threadid=10085;start=msg90317#msg90317 date=1074099581]
They'd have to require appraised insurance or something to cover them in the event of vehicle theft or total loss, wouldn't they?

For example, you pay $7500 for an fj40 that the insurance company will only give you $2500 for. What would happen if it gets stolen, lost in a fire, totalled, etc...? Obviously, Cap 1 would still want you to finish out the loan. Obviously, you would not.
[/quote]

I doubt they care, I would bet that if you looked at the wording of the loan it would clearly indicate that you owe them the outstanding balance. If they car is gone, that's your problem, you just have to pay them the $. This may not be the case, but COF is ALL about risk assessment