Re: OT: Trade it or eat it?

From: Gary Hedlin (garyhedlin@sbcglobal.net)
Date: Wed Aug 04 2004 - 22:58:47 EDT


On 8/4/04 6:40 PM, in article 00e101c47a7b$7c962fc0$c594c944@sw.rr.com,
""Aaron Wyse"" <awyse@sw.rr.com> wrote:
 
> Good point to him on the insurance; Paying whatever is left after selling
> the truck off is still going to save in the long run. Between the insurance
> and the damages to his credit.
> I'm going through the same thing; trying to get a better job to pay things
> off.. but with more and more employers checking credit; I think that's part
> of the hold up.
> Aaron W
>

It may not be that easy. If you sell a vehicle that has a loan on it, the
party holding the title will want to be paid in full before they release the
title. You cant expect someone to buy a vehicle and then not give him the
title.

Remember my whole thing about gettiing solid numbers and then acting upon
them?? He needs to do that first. If he owes more than it's worth, hes
going to have to come up with the remainder BEFORE the sale so the title can
be released.

But if he's lucky, he can sell the truck for what he owes and walk away.
The bill of sale would serve as a temporary title untill Ford Credit
releases the title (I think)

You may want to make an ambiguous call to Ford Credit or a bank to see how
its done, it might help you sleep at night! :)

-- 
Gary Hedlin
www.garyhedlin.com
(under construction)



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