atistang

http://columbus.craigslist.org/cto/939144375.html

the guy said it has and e-locker, it has been in texas and south carolina until this year, so its never seen salt. The guy lives about 100 miles away from me so i haven't went to look at it yet.

The owner said that it is under a loan, has anyone bought a vehicle that is under a loan before? I'm not sure how buying it will work out. he is suppose to be getting me the number to the loan company so i can ask them.

What do you guys think, decent deal?

scuba

IIRC, its only the 95-00 tacos that have the major frame rot issues, although I guess its still nice it hasn't seen salt.

Looks ok from the pics, Low mileage...
I would do it, But i cant comment to much on the loan..

89silverpu

15k seems like a lot to me...

atistang

around here i have seen 02-04's with 50-100k miles range in price anywhere from 12,500 - 18k and a lot of those are from up north so they have been through lots of salt, i'm sure they aren't rotting out but they probably have more rust underneath than this one. Every vehicle i have owned has had rust on the body somewhere, so the no salt thing is a plus to me. If i get that i'll be washing it as much as i can during the winters to keep the salt off


I might try and talk him down to 14k

atistang

ok, i wasn't sure what years they were, i had an 86 and it rotted in half lol

yotasavg

that's a high price IMO... looks like a nice truck tho.
i think what happens with the loan is you'll basically take it over. could be wrong...

ThunderOne

if you look on the market for Tacomas... for that mileage, that's actually a good price. I'd be checking carfax now if I were you.

Husker_Runner

If it still has a lien. There are a couple of senerios.

1. If you're not taking out a loan. You get the truck. He gets your cash. He pays off his existing loan with your funds. He gets title from lien holder/bank, he transfers title to you.

2. If you're taking out a loan. Your bank can either pay his lien holder or give you the funds to pay seller directly. Loan gets paid off for seller, title is transferred to your bank.

There are other options depending on the financial institution. But if he owes more than the truck is sold for. You better make sure he can swing for the difference. If he's making a "profit" with option #2. Seller might ask you for 2 checks. One for pay off, other for his "profit". Not sure if your bank will do that, then seller will just have to wait till his bank sends him refund check.

atistang

i did a carfax on it, nothing bad, it was bought in texas, then sold to someone in SC, then the current owner bought it from them in SC
he owes less than what he is asking, i hope i can just write two checks, my thing is if i give them both to him whats to say he doesn't just pocket the money

littlecommando

Well, if he just pockets the monney, then HE will still owe the loan company, not you.
unless you sign something stupid
read everything before you sign it

One_96TR4

While this is true the loan company could still register a lien on the truck and try to take possesion if he defaults on the loan. I would draw up an agreement where you give him the money to pay off the loan and get a clear title and then you pay him the rest. OR you can go with him to the bank and he can pay off the loan and sign over the title all in one swoop. Just make sure you get written comfirmation from the loan holder the balance has been paid on it.

cackalak han

To add to what was said above, I've always just met the sellers at the bank/credit union of where the title was being held. This was to ensure that I would get the Title in my hand as soon as I paid the seller/bank. ALWAYS do this. Too many scams and whatnot going on around these days.

mt_goat

The rust issue goes beyond those years, that's just the years Toyota is addressing right now with their buy back. I'd check the frame over carefully (salt or no salt), see this thread for more info: http://www.ttora.com/forum/showthread.php?t=95993

atistang

the only problem with being with him at the bank when he pays it off is that i work second shift and he works until 5pm, so my only option would be to come home on a friday night and try to get to sleep by midnight, then get up around 7 and leave, that should give me time to test drive and check it out, then go to the bank with him and do all that stuff.

or i could use a personal day, but he doesn't get home until 5 so it will be almost dark when i get there so i won't be able to look it over as good as i would like

atistang

i plan to spend a few mins laying on the ground checking it over real good

littlecommando

you probealy dont have to buy it the same day you look at it...

atistang

i would like to, its 100 miles away

atistang

He just emailed me:

There are 2 ways we can go about doing this
transaction.
1) Since I have a loan, you will write me a check, I
will simultaneously write a check to the lien holder.
As soon as the chq clears they will send me the title
and I can sign that over to you. There will be a few
days gap between you writing the chq to the delivery
of the truck.
2)We can go online and tranfer the loan in your name
and you can write me a chq for the balance amount. In
this case you can have the truck the same day.
Up2drive will send you the documents to register the
truck in your name.


I'm going to call up2drive tomorrow and fine out more details

cackalak han

He doesn't have to write out a separate check. All he has to do is endorse it at the bank and deposit the check directly for the loan. Or you could even write it out in the name of the bank. Make sure the bank has the title at that branch, or has it sent there prior to your meeting.

trbizwiz

Meet him at the bank or buy another truck. It isnt worth the risk. He is the third owner in 5 years, look it over real close.
In this market $15K seems too high to me.