What do yall think my Gladiator is worth?

[ShadowsPapa]

You think they are in a horrible spot, but they are driving this thing now and probably smiling.

As long as no one asks any questions, yeah.

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[93civej1]

can you not get GAP insurance on a personal sold used vehicle? If they have GAP then why worry about the accident and the negative equity due to accident.

 

[Wheelin98TJ]

can you not get GAP insurance on a personal sold used vehicle? If they have GAP then why worry about the accident and the negative equity due to accident.

We don't even know if the buyer got a loan on it.

But yes, you can get GAP on a used vehicle.

 

[Zachanadandy]

can you not get GAP insurance on a personal sold used vehicle? If they have GAP then why worry about the accident and the negative equity due to accident.

I'm not sure gap is available on used vehicles when you over pay about $10k from market value, kbb, etc? If it is that seems like a scam waiting to happen. Sell it to a relative or friend for 2x market value, get GAP, vehicle disappears, split the profits.

 

[Wheelin98TJ]

Until they realize how much they overpaid, or God forbid it's stolen or in a major accident. Ignorance is only bliss if you remain ignorant.

As long as no one asks any questions, yeah.

I'm assuming the buyer is happy with the purchase because they bought it.

 

[MTB58]

Congratulations on the sale!! Well done.

 

[ShadowsPapa]

I'm assuming the buyer is happy with the purchase because they bought it.

Yeah - any item, food, house, car, shirt - anything is worth what a buyer and seller agree it's worth.
To that buyer, it was worth it.
He's happy - he made the deal and drove away with it.
The buyer left happy. So for him at that point in time, it was worth it.
He may not be mechanically inclined, he may prefer golf or poker or day trading to getting a bit greasy.
That's cool, too - another JT on the road with a person who wanted it.

It might be an "ignorance is bliss" bit and he gets educated on things later (an uneducated shopper seeing a shiny thing glittering in the sun). Or maybe he knew all of that and it didn't matter.
We'll never know. In his mind, it was worth it. (and obviously for his financial situation at that exact time)

 

[Zachanadandy]

I'm assuming the buyer is happy with the purchase because they bought it.

I'm pretty sure the term buyers remorse wouldn't exist in this imaginary world. You've never bought anything and regretted it later? Maybe you didn't do your research, maybe it had issues you weren't aware of, maybe you just realized you could have gotten a better deal elsewhere? Not saying we know the buyers thought process, but assuming everyone is happy with every purchase "because they bought it" is crazy.

 

[NC_Overland]

We don't even know if the buyer got a loan on it.

But yes, you can get GAP on a used vehicle.

The OP claims the buyer got a loan for the full asking price. If any of this even happened, the lending institution would likely have stips like X% down and often require GAP unless a certain percentage is put down vs the vehicles ACV (actual cash value). Even with perfect credit.

 

[ShadowsPapa]

I'm pretty sure the term buyers remorse wouldn't exist in this imaginary world. You've never bought anything and regretted it later? Maybe you didn't do your research, maybe it had issues you weren't aware of, maybe you just realized you could have gotten a better deal elsewhere? Not saying we know the buyers thought process, but assuming everyone is happy with every purchase "because they bought it" is crazy.

Thus the 72 hour thing (cooling off period) with certain major purchases/contracts.
It's really restricted as to what it covers - mostly door-to-door sales, trade shows, purchases made outside of a sellers normal place of business.

 

[Wheelin98TJ]

I'm pretty sure the term buyers remorse wouldn't exist in this imaginary world. You've never bought anything and regretted it later? Maybe you didn't do your research, maybe it had issues you weren't aware of, maybe you just realized you could have gotten a better deal elsewhere? Not saying we know the buyers thought process, but assuming everyone is happy with every purchase "because they bought it" is crazy.

Of course buyers remorse exists.

I'm not assuming everyone is happy with every purchase, I'm assuming most people are happy with most purchases.

 

[Wheelin98TJ]

The OP claims the buyer got a loan for the full asking price. If any of this even happened, the lending institution would likely have stips like X% down and often require GAP unless a certain percentage is put down vs the vehicles ACV (actual cash value). Even with perfect credit.

I didn't recall the OP mentioning a loan, but you are right about that part.

After two weeks on marketplace. My gladiator sold for 45k to a private seller. They were able to get a loan as well. So for anyone coming to this thread for advice on selling theirs, don’t let the nay sayers discourage you.

 

[ShadowsPapa]

The OP claims the buyer got a loan for the full asking price. If any of this even happened, the lending institution would likely have stips like X% down and often require GAP unless a certain percentage is put down vs the vehicles ACV (actual cash value). Even with perfect credit.

It happens - some lenders will, and some will with specific requirements like the GAP insurance protection.
Imagine, the lender being listed as loss payee on the insurance policy (which would be an absolute MUST - and if the buyer failed, it's fraud on their end) - and the vehicle is stolen or totaled and the lender gets payment of only 35K. Someone is on the hook for the difference.
There's a lot we don't know here.
We do know it was a one-off that went for well over any real market value.
The rest is all guessing or speculation. Seller got damned lucky.

Buyer - depending on local laws and if the buyer and seller conspired to commit fraud by lying on the title paperwork and didn't put down the true selling prices - is on the hook for any taxes, meaning the buyer actually paid over 45K and with a loan, there's the interest on top of it. Here, by the time you transferred the title and paid the taxes, as a buyer, it's a $47,500 truck.
May be different there - but in Iowa, that's adding a chunk to that 45K initial price.

 

[Gvsukids]

Let's be kind to the new owner when they come on here asking if they got a good deal.

 

[jmdwifi]

You don't get all your money out of mods but you do get some with the right buyer. I sold a jeep that I had put several thousand in mods, I think I paid 34,500 for the jeep when it was new. I wanted a Tacoma at the time and the dealer offered me 25. It was 2 years old with 50,000 miles on it. I told them 34k and they laughed. I sold it personally for 33,500. I did talk to the buyers bank and told them the add ons. They financed it for them and considered the mods in the decision. I am glad I have my forever vehicle now.

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