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My Truck Sale Has Been Interesting to Say the Least

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I originally bought this truck to turn around and sell it to make a profit (in an effort to pay my home mortgage down to $40k by the end of this year). I have already had my ups and downs in fixing it up, but selling it hasn’t been the smoothest process so far either. After about a month of fixing up various things, my total dollar amount invested in this truck (including the initial purchase) was $5,300. I felt pretty good about that since the typical truck that’s in this condition costs about $7,000. Even if I only got $6,500 for it, I’m still coming away with a $1,200 profit. Not too shabby for a few hours worth of work. Plus, I have had a blast driving this truck! But, here’s the story so far with putting this truck up for sale.

The Truck Sale

I officially posted this truck on Craigslist one week ago and have actually had a fair amount of interest. Unfortunately, it has been attracting all the yahoos that offer me $5,000, even though I have it listed for $6,900. Up until yesterday, the highest offer had been $5,500. But, nobody had actually looked at the truck yet. These were all offers coming in sight unseen.

Yesterday, I got a text from a man named Jack (changed the name to protect the innocent ;)) asking if the truck was still available. I of course said it was and told him where the truck was located so he could come take a look. True to his word, he showed up, looked the truck over and was pretty pleased with its condition……….and then he turned the key. Nothing. It didn’t start.

I really hadn’t ever had this problem, and of course it happens when someone is test driving it. Fortunately, it turned out that the battery connectors were just loose, so once tightened it started up like a champ. Jack and his dad Paul took it for a spin…..and……the truck stalled on them a couple of times. Again, I have never had an issue with this truck and it just so happens that its crapping out on me when I’m trying to sell it.

Well anyway, Jack and Paul left without making me an offer, but were actually still pretty interested. The best part is they didn’t offer my $5,000 for it. Hahaha. I give it about a 30% chance that I’ll hear from them again.

After the Truck Test Drive

I was a little bothered by the terrible test drive experience, so I decided to take the truck out for a drive myself. Of course, it drove perfectly, that is until the four wheel drive button failed to work. I couldn’t believe it. This worked perfectly as long as I’ve owned it and it worked for Jack and Paul when they drove it, but all of the sudden I only have two wheel drive. This truck is starting to turn into a nightmare, but I am still keeping my hopes up that I will turn a hefty profit. I have to admit that my palms are a little more sweaty today than they were yesterday though.

Have you ever had problems when you’re trying to sell your vehicle?

Get Out of Debt Money

AUTHOR Derek

My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

11 Comments

  1. Ugh, that and hitting the deer would make me think this truck is cursed. We actually have an old Civic we are wanting to sell. I want to put it on Craig’s list, but I don’t want to deal with all the loonies that will come with that. There is a local mechanic shop that will sell it, but they take a $500 commission. That is actually appealing because I think they will ask a higher price and can deal with all the crazy ones, but I just don’t know, so we sit and do nothing. Not a very good solution!

    • My friends have taken the same approach as you, which is doing nothing. It has not been a good approach for them either. While their Jeep has been sitting by the side of their house, it has only become more rusty and things just keep breaking on it. By doing nothing, their vehicle went from being worth $2,500 to about $1,500. I’d say allowing your local mechanic shop to sell it is not a bad solution, but selling it yourself is not so bad. I have had one interested party looking at my truck and they were very nice and responsible. I think you’re freaking yourself out a little bit too much. Just post it and see what happens!

  2. Ouch. Horrible timing with the problems showing up on the test drive, but it might be just a one-time random thing.

    I’ve had the same problems with random sales online though, I hate those yahoo lowballers.

    • I sure hope it’s a one time random thing. This is a good example of how flipping cars might not be so easy though, so I’m glad I could share this with my readers. I still hope to come out on top though!

  3. Problems always seem to rear their head at the worst possible times. Don’t get your hopes up! It will turn out for the best. And if you look at it positively, its good the problems came up during the test drive and not after they bought the car. If it had stalled on their way home they would have thought your ripped them off and sold them a lemon!

    • And as for the 4 wheel drive, I just discovered that the potential issue is probably the most expensive there is… Stay tuned.

  4. I had those yahoos from Craigslist myself. They kept offering me a trade for my car. I ended up editing the post to let it be known I wasn’t interested in trades. Wouldn’t you know it, I still had people contact me offering trades!

    • Haha. And why is it people always want to trade their vehicles that are rusting out and look like garbage? 😉 Hopefully I get a good buyer soon.

  5. Derek,
    I wish you luck on this. Hopefully, the expenses won’t end up being more than what you can get for it. I assume that flipping cars would be like any other investment. Some deals make money, some don’t, and hopefully the former outweigh the latter.

    • Hopefully not! I was able to buy a control module for only $60 instead of the typical $350 (assuming that’s the issue anyway). I have an appointment to bring the car in on Tuesday. I’ll have to find out what the damages are then!

    • Well put JT. I think I can still make a little bit of money on this truck. I have about $5,700 into it and should be able to get at least $6,200. It’s only $500 after all the effort, but at least it’s still a positive amount! 🙂


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