Financial Question... Need Some Help Please

I bought a brand new truck then modded it. I'm all about personalizing the vehicle to any idividuals likes. But you stated that mods increase the value of a vehicle. Because someone is willing to pay extra, doesn't mean the ACTUAL value of the vehicle increased.

 

My buddy had an 03 jeep wrangler paid 14k for it. 4 years later, new lift, new tires, new wheels, new drive shafts, new radio and speakers, two days after getting it out the shop Jeep was totaled. Insurance gave him just over 17k. He made money.

Keep you're receipts because your insurance company will depreciate the value of mods. Just keep negotiating with them. Time is money, sooner they settle the better off they are.

With that said I would never buy someone else's toy. Buy something 3 year old or newer and save for the upgrades you want and make the truck truly yours.

 

If you're going to buy a used vehicle, buy one that is as close to stock as possible. You don't want to end up buying someone else's problem!

If the bank is telling you they'll only loan you X amount for a vehicle, thats what its worth. Don't dig yourself into a hole over a used vehicle, if you're going to do that get a brand new vehicle to take in that hole!

 

Anyone can turn a wrench...but not everyone knows HOW to turn a wrench. There's a big difference between those who think they know how to do it (hack jobs) and those who actually know how to do it.

If you've been around offroading vehicles long enough....and can witness the complete and total HACK JOBS in mods and upgrades that people have done - then you'd NEVER trust buying a used modded vehicle from anyone without expecting to experience breakage or you say to yourself "WTF were they thinking?"

 

Thanks everyone on your thoughts!

I am not necessarily talking about any specific situation. Just wanted to know if there was a way to get everything financed buying a used modded truck. A way to get around the banks rules of only covering what the truck is work according to black book. That way I don't have to save up or pull out of my savings to cover the difference.

I'm not having any problems getting financed anywhere and I don't mind getting financed. I have high 700s credit and getting 1.9-2.3 percent depending on the year model, mileage, etc.

With me, modifications only add value if the person that wants to buy it is looking for those modifications. For example, I know I'm going to modify my truck anyways so if I find a long travel Tacoma with a set up that I like and would do to my truck, then I'm willing to pay more for the truck. Granted it needs to be to my "standards".

It does appeal to me to be able to get the set up at a discounted price if it was done right. The time waiting for parts and labor and extra costs I would prefer someone else to have to deal with in some aspect.

At the same time, I also have no problem buying a stocker, then modding it myself. That's how I've always done it. I've just never had any experience buying a used modded vehicle through an individual. All vehicles I've purchased both new and used have always been through dealers where I have also got the financing.