The words "rebuilt title" means it has been declared "Totaled" by an insurance company at some point. And you will not be able to get full coverage. If you did get full coverage and it was damaged, your insurance company will not cover it.
Don't forget that you will probably owe the government about 25% in taxes. So if you don't get a hefty refund every year you may have to pay. Good luck with your search and I hope everything works out well for you.
Thanks to both of you. Evidently not many folks on here have ever had to struggle in life.
Anyone who has actually worked for what they have has struggled at some point. Your business is exactly that. Do what you gotta do. Good luck on finding a ride and I hope times get better for you sir.
Randy I wouldn't be scared of this. BUT know that rebuilt titles have much lower resale value which may not be an issue if you plan to drive til you die!. IF you go private party or rebuilt title I would strongly suggest you get a shop or dealer to do a pre-purchase inspection which can be had for $100 to $150 but is well worth it. If the seller refuses then run away. They can make sure the check engine light hasn't been reset (some lights can be reset simply by disconnecting the battery and may not come back on for 50 miles). You might have enough to buy a third party warranty. Also pay for the carfax vehicle history report - make sure it isn't a Harvey car!
I bought mine $2k off advertised price if used truck at Vandergriff. I have bought 3 vehicles this year and have never paid sticker for used.
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And I got 5k off mine in November in OK. Every truck I tried to buy in Texas they would not move on. Carmax tells you right up front they won't move on price.
$20,000 from 401k - $5,000 taxes. $15,000 clear.
6.25% tax on the truck + $60 for registration and then whatever they charge for title transfer fees, I don't remember the cost.
Realistically should be looking at trucks he can buy for about $13,500. You aren't talking down a $20-22,000 truck to $13,500 unless it is a super desperate individual and if somebody was wanting to get rid of something that bad I would be leery of the truck anyway.
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