Have to sell truck... What's it worth?

If that's the case I'd jump on that too. That's probably as good as you are going to get.. especially from a dealer.

 

31k you say. I may need to make a drive. Lol

 

For the last 10 years + I have had a company vehicle and gas card that I can use as my own. Two E350 vans and three F150's. I still prefer to keep my own vehicle just because I can do what I want with it. My last was a 2000 Tacoma that I owned for 13-1/2 years and put 2 to 3K on it per year. Recently sold it and bought a new 2017 Tacoma. Why? The company don't own my soul!

 

I have had a company truck for almost 15 years. I can not wait to get out of it an drive my own low mileage clean truck. For what it is worth.

 

It's worth whatever you and a serious buyer agree to, in the time frame within which you want to sell. Generally when I sell things it's after a longish period of waffling as to whether I really wish to sell, and once I do "pull the trigger" I just want to see it move fast and be done with it--so I set my price with a lot of wiggle room.

If you have paper on the truck and have not owned it for at least 1/3 of the loan's term keep in mind that most of your payment is interest--each month you do not sell is money in the lender's pocket, not yours...

 

Automotive loans aren't structured like a 30 year mortgage, you couldn't be further from the truth unless your interest rate is astronomical.

 

I'd sell it to @Nrbeal12

but thats just me

 

You are incorrect.

All current consumer loans (car loan, mortgage or any Fed regulated transaction ["buy-here/pay-here don't count]) are structured fundamentally the same with interest per periodic payment being a function of outstanding principle times the periodic rate. Periodic payments are applied as: periodic rate * outstanding principle as interest, and whatever is left being applied to reducing the principle. This is why paying more per payment can significantly reduce total interest paid, any additional amount paid is applied 100% to reducing the principle.

There were auto loans years ago that were severely "front-end-loaded", but one of the various consumer protection acts eliminated those some time back.

 

I always pay extra each month, the faster I can get my truck paid for the better, think my last statement said interest was about $21 of my previous payment.

 

Give back the company truck and just keep your Tacoma.

 

$31k offer from a dealer for your used truck? Damn, seems like a great offer from a dealership.

Ask yourself, would you buy a slightly used Tacoma for that much, or would you be willing to shell out just a tad more for a brand new truck?

 

I'm glad you can google then copy and paste but you're still wrong. Go look back at your statements if you have a loan and you'll see in NO WAY, SHAPE, OR FORM is your statement of "most of your payment is interest" accurate.

The $400 payment on my daily driver that I bought last year has been roughly $340 principal and $60 interest each month since the loan was originated. That ratio tilts slightly more and more each month to the principal side also. Which is a good thing.