Thinking of selling the TD -Opinions please

[bill murrow]

The time has come for me to buy a new work truck. As some of you know it couldn't come at a worse time. The only vehicle I own thats worth anything [enough for a downpayment] is the TD.

I do not want to sell it at all. Totally against it myself. Nothing wrong with the car at all and you all know how hard it is to find one in such good shape.

For those of you that haven't seen it, its got 159K, clean as a pin, gets 28-30 mpg, runs great with nothing other than the cruise control to pick at. Its an '85 too.

I am at a loss as to how else I can raise enough money to get a new truck. And don't tell me to buy used. They're as much as new practically.

What do you guys think. I know I'll get a million offers but I'm not joking around. I hate to have to sell this car.

Cheers,

Bill

[MTUpower]

You'll think about the wagon for many years to come if you sell it- but do what you gotta do... it's a thing. Happiness is a state of mind, not a collection of things.

[Veloce300DT]

Just keep in mind the wagon values are going up! If its in desirable shape id try and figure out a way to hold onto it... it could be an investment depending on your location... people here in CA will pay top dollar for a fine w123.

[bill murrow]

Originally Posted by Veloce300DT

Just keep in mind the wagon values are going up! If its in desirable shape id try and figure out a way to hold onto it... it could be an investment depending on your location... people here in CA will pay top dollar for a fine w123.

I do have an option....smaller downpayment and make the big payments at the end of the month. My pay is so herky jerky though. Big payments scare me. I have never in my life had to make car payments so I'm not accustomed to it.

Here in the east they pay good money for a good example. Hard to find one here without a bit of rust.

Cheers,

Bill

[Brian Carlton]

I'm not convinced that you can't find a decent used truck at a "reasonable price". It might take some looking, and you might need to go out of state and have an independent inspection done, but, I'm quite sure that you can save $10K over the price of a new vehicle.


The $10K saved will more than offset the sale of the TD.

[barry123400]

Just in my opinion you need a stratagy to shrink the difference between what you are thinking of paying for the truck and what may be really possible. Perhaps nothing is possible but among your aquaintences and friends may be a proffesional buyer. He may not be labelled as such but if you know an individual that consistantly seems to buy up things at well below market value he may be it. I would not hesitate to approach a couple of guys I know if I felt squeezed in a situation for example like you describe.. Generally I buy things at favorable prices and these guys can beat me hands down in their sleep. Things can happen. Your age and circumstance plus life experience do play a very large component I agree in what you can tollerate. Personally I hate owing money but would dive in if it makes common sense. Also try to find out how local reposessions are handled in your area. Sometimes a bank will have a list of seized assets available and preffer to sell to average people as they usually recieve far less from proffessionals for example. Bottom line here is banks and other financial institutions want clear of repossesed merchandise as soon as possible and do not neccesarily look at it as a total cash cow. Never hesitate to make a low ball offer as if a vendor really wants to move something he will tend to drop down to his bottom line that may be much lower than one would think as he might be under pressure as well. By attempting the above you may even land up being able to keep the car or if you decide not to your general debt load will be still less. Nothing ventured nothing gained. Worth a try? Also you did not specify the size of truck and that also has a bearing. I certainly might try to examine buying up someones end of lease salvage value or at least examining it if enough dollars can be saved and truck is a very low milage, good condition example. There are so many components and variables to factor in that only apply to you of course. It might help your thought process to visulise the difference between what you owe and actual resell value of the truck you purchase is your true debt load at any time not the total amount paid for the truck less the ongoing payment equity portion. Any perspective one can add to a situation may help. Best of luck. I am not talking down to you either just trying to reinforce the ideals that there are many prices for the same general object out there plus we should always examine our own attitudes towards things in depth when possible. Buying cheap is an art form usually cultivated when one has little money. It seems hard to change even when you really have no actual need of continuing the practice perhaps other than your ego.

[JimmyL]

Originally Posted by Brian Carlton

I'm not convinced that you can't find a decent used truck at a "reasonable price". It might take some looking, and you might need to go out of state and have an independent inspection done, but, I'm quite sure that you can save $10K over the price of a new vehicle.


The $10K saved will more than offset the sale of the TD.

Brian has been making a habit lately of making sense. Go figure.....

What he says I think is dead on, and you should consider it carefully. The difference in payment might be $50 bucks a month at the most probably, and a clean TD is obviously worth more than that. I just wouldn't pay the new car price. Let somebody else pay the larger part of the depreciation.
I know the feeling, though. My wagon just dumped all its freon in less than 2 weeks, so I have quite the leak somewhere. Sigh.......

[RobTheMod]

What kind of work truck are you speaking of?

I would argue that you are divesting yourself of an asset to acquire a liability if you are seriosuly considering selling the 123 wagon to buy a *new* work truck.

If you are speaking of a 1/2 ton or so domestic pickup, out here in AZ they are practically giving the things away. The local Chev dealer (there are 10+ in Phx, AZ but this is the one within three miles of my house) is running a sale on Silverados... from $11,900- that is the loss leader, but still, I don't know what your criteria is.

The last W123d rolled off the line in Germany 21 or so years ago... new trucks pour off the lines daily, and what with the GM troubles they would be quite happy to sell you one.

Of course, I'm the sort of freak who, if given the opportunity to trade my 300SD even up for a new M-B E class, I'd have to actually think it over. CDI would sway my decision some, but they truly don't make cars like a good 123/126 anymore. At any price.

[Tom Valdriz]

You know your finances better than anyone here, but...
Keep the wagon if you can. Good examples are hard to come by;
you know what you have done to it, and what it like.

I agree with the rest. A good diesel wagon is an appreciating asset
while most trucks are depreciating assets.

My two cents...

Tom Valdriz

[willy2004]

If you do end up selling it, try to sell it to a friend. It is much less heartbreaking if you know that someone else appreciates it, will take care of it, and will enjoy it as much as you have or maybe even more.

You might have some concerns about the future well being of the car that you need to get in touch with...perhaps therapeutically.

[Hit Man X]

What sort of work truck are you looking for?

There's plenty of old Ford/Dodge/GMs out there that will run quite a while...

[Pete Burton]

I too know the regret of selling a trusted friend and hope that you can avoid it in this case. Maybe the solution lies in finding a truck that will meet your needs in such a way that will allow you to keep the TD. Can I ask, how much driving do you need to do, what do you need to carry? How new looking does it have to be?

[dunl]

Find a local 4x4 forum, and hang out there. Those guys usually have a lifted rig for 4x4ing, and another that is non-lifted but a daily driver. Plenty of good used cheap vehicles on those forums, and they usually don't screw around anyone there, as they all are somewhat knowledgeable about the vehicles - unlike Ebay Mercedes customers....

[lee polowczuk]

our 98 ford expedition (ford f150) has had 147k trouble free miles. I am sure you could find one in the 100k mile range for 7-8k. Keep your car.

[Jmana]

First thing you need to do is find out how much the dealer is giving you for your wagon, and I don't mean what they TOLD you you were going to get, because that's never the case. What you need to do is get a hold of a black NADA book, that's a good place to start. Or go to Edmunds and find out the trade in value. But lately, dealers are going to auction books to find out how much a car of the same model and year, with close to the same mileage would sell at a dealer auction, because more than likely if it's a new or newer car dealer they won't keep your 20 year old car on the lot, it will go straight to auction. What the dealer does, is then take what you think your trade is worth, and subtract from that amount what the car would sell for at auction, then add the difference to the cost of the vehicle you are buying. Trust me, my father owns a car dealership, so I know what I am talking about! You are almost always better off going in telling them you want to pay cash, or that you don't have a trade, and get the best price you can, then sell the car you were going to trade in privately. Unless the car has some kind of hidden defect that only you know about, then your better off to not trade it. Personally though, I'd keep it as a second vehicle, because these days you never know when you'll lose your job, and need to get rid of your fancy truck.