Never thought I would write this one?

Short version, I have an unbelievable opportunity to buy a pce of land here in South Florida from a friend (getting a divorce doesn't want his ex to make money off of his investments).

The only way it is going to happen is by selling the L. Yes, my baby, my number one project for the last six months, my 496/562 beast that hasn't even broken in yet. Can't believe I a writing this?

Here is my question, a new '03 is $30k to $32k I have invested over $9,000 in mods (not to mention labor investment). In order for me to make this land deal a reality I need to sell for $35k - $36k - I know I would be taking a bath, entirely, but do you think that is realistic?

I look at it this way, if I can sell her for that price then the land deal was meant to be, if not I live happily ever after with my L. I win either way. The '66 Fastback is definitely out of the question, I am going to my grave with her.

Thoughts?

D-Day

 

honestly, you are likely to come out better on the deal by parting out the truck, and selling it as close to stock as possible, Im thinking that will net you the greatest "cash" return... unless you can get REALLY lucky and find a buyer with cash that realizes the work you have done.

Best of luck

 

You will more than likely have a hard time selling for that price. Many people can't comprehend paying more for a used truck that has been modified. There are also many people out there that won't buy something that has been modified. You would probably make your money by selling the parts individually. I bet you could sell your truck for $28,000 and be successfull.

 

sorry to hear you have to get rid of the truck, but good luck with the property. You can always get another Lightning when the time is right. I dont blame you for trying to get rid of it and putting the money towards the land. Good luck with it, Shane

 

I agree, part it out and sell it as close to stock as possible... very few people will buy a modded vehicle.... well, HS kids will...but they usually dont have the cash, good luck

 

I would do what ever it takes to make the land deal. I love my truck but you can buy another one any day of the week. A good RE deal however is a little harder to come by. With the money you make of the RE investment you will be able to buy another L in the future. RE= asset Truck = liability
Good luck with whatever you decide.

 

I agree with ya Paul... Like I said, get the property and maybe you can get another L later... If I was in the position you are, I'd do the same. Sorry to hear you put all the money into the truck, hope you get some of it back.
Paul, how is the truck? It looked really good the other day. I have been busy, I got Midwest's #. I will try go call today and email you.
Shane

 

As a general rule of thumb you can ask for 1/3 of what you have invested in the vehicle when you sell it. So it would basically be whatever a used 03 with how many miles you have on it plus $3300.

With that said you can always find some one who is willing to pay mor (although it may take a long time). Part it out and sell the parts and you will be better off in terms of $ but its a PITA.

Good luck man, hope it works out for ya.

 

that would suck taking a 2/3rds hit like that. Afterall the truck is still new, and like he said, isnt even broken in yet. If I was going to loose money like that, I'd hope to get my money's worth out of it first. I'd say try to part it out. What all do you have done to the truck to equal $12,000? Good luck with what you do, Shane

 

dan that sucks you gotta get rid of her, oh well, life goes on...you buyin the land in ft myers?

 

Why not trade for an older stock L...................hey, I have a 2001 plus cash

 

I hope I answer everyone's questions:

The mods I have made are:

Kenne Bell $3000
Reichard upper 3.20 $110
JLP 6 lb lower $225
Two gator belts $60
Metco idler, plus larger main tension wheel $300
JLP Ram Air $275
JLP Painted ThunderTube $185
Accufab single blade $350
Dual Cobra 255 fuel pumps $400
Polished and Ported Plenun $400
160 thermostat $100
Fluidyne heat exchanger $300
Two sets, Beru S1K's $150
Performance Plus line lock $225
JLP rear lowering shackles $75
PSP drive shaft loop $100
Greg Evans Valve body $275
Ford 4x4 trans pan $50
T trak traction bars $225
Dynatech long tubes, high flow cats $1200
Single Magnaflow, X pipe cat back muffler $450
Nitto 555R's $400 (plus I still have the original F1's only 500miles)
Diablo "Revolutions" single file chip $250
REM oil separator $50
"Lightning" front grill, rear tail gate badges $50
I think that is it, probably missing something.

Total aprox. $9200, I could be off on some of the prices (as in low) I don't have my receipts in front of me.

I hear what everyone is saying about parting it out, but I really don't want to go to that trouble. I just don't have the time and quite frankly, if I have to do all that I would rather use that as the excuse "I have to keep her". I have worked very hard to make certain all of my mods have come together to produce the L that I have. Heck I only have 2200 miles on her.

Like I wrote earlier, I can't believe I am contemplating this, but when you have the chance to pick up a property for a quarter of it's true worth you have to give it a try. (Yeller - it is in south fort myers in the BriarCrest area near BlackHawk) I would be more heart broken to loose the L than the property, when it really boils down to it. I am already talking myself out of this. LOL

Thanks for all the advice guys!

D-Day

 

well dan if your really buying it at quarter price, then simply borrow the money, then when you get the property, have it appraised, you'll be able to get a huge equity loan, since your only paying so much, but the value of the property is high, then pay off the money you borrowed. As long as your credit is intact, it shouldn't be a problem. What do you need the 36k for? Down payment? If thats the case it might be a problem, since borrowing that much will throw your ratios off, but it's something you can work on.

 

hey I don't want to start anything, but you paid $100 for a thermostat?

 

Will you make enough/more on the land than you will lose on the truck?