Questions on selling my X

[Mike]

Yep, Im thinking about it.. Im going to be 22 this year.. i was young and stupid and locked my self into a lease for $400 a month for my truck. im going to be 22 and dont have a $ saved cause of the truck and gas. my buyout is 15116.20 and i have about a year left on my lease.. so ruff math


15116.20 + 4800.00 = 19916.20

do you guys think i could get 19916.20 for a 2001 explorer XLT v8 with all options. the bad thing is i have 42k on it =[


please anyone? in put? ideas? anything? as far as the body goes its got normal ware and tear. just put new tires on it oil changed every 4k with synth. just inspected passed free and clear..


please give me your input any ideas? what would yo do?

thanks guys...


Mike

 

[Mike]

btw this is what Kelly blue book says






Engine: V8 5.0 Liter
Trans: Automatic
Drive: AWD
Mileage: 41,000



Equipment
XLT
Air Conditioning
Rear Air
Power Steering
Power Windows
Power Door Locks
Tilt Wheel
Cruise Control
AM/FM Stereo
Cassette
Single Compact Disc
Premium Sound
Dual Front Air Bags
ABS (4-Wheel)
Leather
Dual Power Seats
Moon Roof
Roof Rack
Privacy Glass
Running Boards
Custom Bumper
Grille Guard
Towing Pkg
Premium Wheels



Consumer Rated Condition: Excellent
"Excellent" condition means that the vehicle looks great, is in excellent mechanical condition and needs no reconditioning. It should pass a smog inspection. The engine compartment should be clean, with no fluid leaks. The paint is glossy and the body and interior are free of any wear or visible defects. There is no rust. The tires are the proper size and match and are new or nearly new. A clean title history is assumed. This is an exceptional vehicle.


Private Party Value $18,485
Private Party value represents what you might expect to pay for a used car when purchasing from a private party. It may also represent the value you might expect to receive when selling your own used car

 

[mikeresin]

in this economy id say $17K

have you done anything to it?

 

[Mike]

nothing special.. k&n push bar with piaa's i had shackles on it i took them off tho.. i also have a system.. thats about it

 

[mikeresin]

ya mind posting a few pics?

what do ya have for a system?

 

[Mike_H]

In the long run I think that you would be better off just to finish the lease, one more year.

 

[james t]

the used car market is really soft right now, esecially on explorers. no one around here pays anywere near blue book, and its not all that rare to find X's in the want ads starting out way under retail. this is no time to be selling a used explorer. ask FrankRizzo.

 

[EliteConcept]

i think there are some issues here...

1.) You have owned it since it was new. You know how its been treated and you have all your stuff added to it. However, how much do you have faith in the quality of the explorer? enough to keep paying on it for... X more years? How much do you really like it? Would you like a different one, maybe different color?

2.) What i plan to do when i graduate college and find a job is do a lease. They are fail safe ways to have a car. I mean if it breaks on you its all on the dealer to fix it. Yes its a bit more expensive maybe, but all cars are.
i'd rather get a new car every 3-4 years and let the dealer do all the maintence than pay for a 5-6 years on a car that is going to be 100K + and worth nothing when its paid off..... The inveitable part about life is bills....their always there, i figure if i have to have them might as well roll a new car

just my thoughts and questions to you

 

[kkreit01]

You would never get close to $19K around here -- probably 16-17?. I picked up a used auto mag last week. I was sick at the prices of used Xs. You can get low mileage, 02, loaded XLT, 4x4s for $19K. They were giving 2nd gens away. The V8 might help you, but I saw a '02 4.6L for less than $20K. It's sad that Jeep Cherokees were holding their value as well as or better than Explorers. I'm going out to buy a Pilot (J/K!)

 

[SVO1]

Yeah my mounty has been for sale for 4 months now with no serious people looking at it.
Sadly it was also in a major local publication with the wrong price of $2500 and I only got one call!

 

[Stephen]

I agree with what everyone says here, you're gonna get your ass handed to you if you buy yourself out of the lease. It almost always works that way, leases aren't designed to be gotten out of early. Also keep in mind that you are liable for the following.

1. The current buyout of the vehicle, not the lease end buyout. You have to call the lease company for this.

2. Depending on the company you may be liable for all the remaining payments in full plus either the current buyout or the lease end buyout. if its the current then its gonna be really nasty.

3. Plus early termination fees and penalties, these can be $500 to $2500, it depends on the company. If your truck is leased through Ford Red Carpet Lease its going to be bad, I turned in a Lincoln early and it was terrible.

Pretty much your only option is to checkout these sites:

www.leasetrader.com

www.leasetrading.com

www.swapalease.com

These are ebay, AutoByTel type sites where people post leases that they want to get out of. People who want a short term lease (for instance someone moving in a year) looks for shorter term leases, applys for the transfer and takes posession of the vehicle lease and all, you're removed from liability.

$400 is an attractive lease on an Explorer and you might just get a bite.

 

[metstalker]

sell it for what you want to sell it for go 19000 and people will come if the x is in great shape cosmetically and mechanically you will be fine and if you dont sell you can jump down on the price a little (not too much) dont be so eage to sell it also (when haggelin dont jump the price down) the buyer will think there is some thing wrong with it and you will not sell it and be honest about intent on selling it cant afford the payments which will show the buyer there is nothing wrong with the car (lemon)


these are all the suggestions i can offer to you good luck selling.

 

[Mike]

anyone have any other options? ideas? anything?


Mike

 

[MontanaGT]

My last car was a lease I wanted to get out of 1-year early. It turned out that my buyout was less than my final buyout + remaining payments. Leases differ so I suggest calling your lease company and find out your current buyout amount.

I ended up going to a Ford dealer, I told the sales person that in order for me to buy one of their vehicles they had to get me out of the lease. They worked thier magic and made it work. I may not have gotten the best deal on my Ex but it got me out of the lease with no effort at all.

My lease was a 97 T/A which was immaculate. Yes, I traded in a car valued more than the one I ended up buying.