Hello guys, I did'nt think this day would occur. I've only had my Lightning since July 31st, and I've run into some serious problems financially. I won't go into much detail, but the Lightning I bought came with all options, 6 year extended warranty, and there is currently only has 1,500 miles on her. I would like some advice on what should be done. I currently have the Lightning financed at 9.9% through Ford Credit. I am going to speak with the dealership where I bought the vehicle first to see if something can be worked out. I paid $10,000 cash down, and financed for 5 years at $490 per month. I would like to ask if I might be able to get the money I put down back? Will the dealership take the vehicle back inspect it, and be able to sell her quickly? I have never had to do this, and I don't really want to do this. Maybe some of you guys have ideas on how to help me out. I figure that right now I can sell the vehicle either back to the dealer, or I can sell her privately. I will end up purchasing another one down the road. I may not own a 99 model, but I will own a Lightning again.

Thanks,
Metallic Blue

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Death called while you were out, so I gave him your pager number.

• 1999.5 Black SVT Lightning
• (Lowered by Roush soon)
• (Filter charger kit soon)
• (Many mods coming soon)
• (I could keep doing this all night could'nt I)
• CD Changer,
• Tonneau Cover,
• Class III Tow Hitch.

http://www.angelfire.com/ct/pontiacmuscle/contact.html

http://www.angelfire.com/ct/pontiacmuscle/mycar.html

[IMG]

 

Metallic Blue,

We know you must be hurting financially if you're considering getting rid of your truck already. Unfortunately, I seriously doubt that the dealership will refund you any and all of the money you put down. I think a realistic option would be either to attempt to refinance for a longer time (72 months with a different loaner than Ford, because 60 is their max), with a lower APR. If your credit is clean this is possible, so start looking on the internet, and don't give up until you have to. You have equity in the vehicle already with that much down so a private owner purchase would work but then you wouldn't have your truck... We sympathize with you.. I had second thoughts myself about the cost, but I've put so much money into this thing, and of course I love it too much. I would probably get a second job first.... Then again, the Marine Corps wouldn't like that too much either... Anyway..good luck!!!!

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DEVILDOG

 

Metalic Blue,

Not knowing what you paid but I'll assume MSRP here's what I know another person in your situation did.

He traded the Lightning to a local dealer that sells a lot of used vehicles on a '95 Lariat. It was about half the value of the Lightning. The dealer put about $28,000 into his trade which I think is a bit high but that's what they said when I offered them $26,000 for the Lightning.

If you could get $26,000 out of the lightning that could put $5000 - $6000 back into your pocket. I think that's the best deal you are going to get.

The other option, refinance could put some cash in your pocket. Let's say you finance $25,000 for 60 months, I just financed $23,900 on my new/used 99.5 for 60 months on the used car rate of 7.80% offered by Peoplefirst. My payments are ~$484 / month. This rate is available on line if you agree to a monthly bank draft (they take the money every month from my account). The invoiced rate is 0.5% higher. These loans are only available to people with very good credit. Anyway, that would keep your payment the same and put $4000 - $5000 back into your pocket.

If you really need the cash and don't want a payment then the only viable option you have is a direct sale. Advertise it in the Auto trader and list in on-line. I bet you could sell it in a week if you kept the price under $28,000.

Hope this helps!

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Mark Whatman
mwhatman@worldnet.att.net

• 99.5 White Lightning (stock)
• 99 Buell S3 Thunderbolt (not stock!)
• 98 F-150 Lariat (Flowmaster)
• 96 26' Velocity Offshore Race Boat (far from stock!!!)

 

IMHO with a 99 Lightning you don't need to take it into the dealer for a trade. You will be severely upside down - with 10,000 down you would lose big on that deal - definitely no cash back.

It shouldn't be hard at all to sell it privately, it's not like it's a regular truck. Name a fair price and I'm sure it'll be sold in no time.

Sorry about your situation, it hurt me just to read about it.

Mike

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99.5 Black Lightning
PowerSurge Cone Filter
JBA Jet-Hot coated headers
Flowmaster muffler

 

Metallic Blue

I had a 99 black lightning bought in 6/99 traded in 9/99.The truck was awesome I paid $ 30205.and got $12000.for my 96 B4000 4x4.So I owed roughly $18500 after dealer installed Lojack after 1st payment with FMC refinanced through AAA at 6.75% over 72 months payument was $330.I went long term because I didn't think Lightning would depreciate that much and the monthly payment was very easy to make.I also went out and bought a $2000.beater car for winter.But after awhile it didn't make sense to have my lightning resting under a cover all week to be driven on weekends and living in Boston can't be driven at all in winter.So I sold the $2000 car and traded in lightning on 99 F250 4x4 supercab,after 3 hours of negotiating I got $26000 for lightning and $6000 off sticker of F250 I now owe about $19000 on my F250, although its not a lightning it has a lot more practically for me being an Electrician, and I also saved $1500 on sales tax because I had already paid it on lightning.In order for me to do the same on private sale I would have had to sell it for $27500.and deal with joyriders.There are some leftovers at dealers up here in Boston and they are lower than msrp.You're best bet is to trade it in or try to refinance but rates are up now.I now have my eyes on a typhoon owned by a dealers son asking $16000. I have the need for speed. Good Luck

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Barlitz,
99.5 Black Lightning,
Hinge mount tonneau,
cd player,
bedliner,
lojack,

 

metallic blue

One more thing my situation was based up in Boston where a truck like the lighting can really only be driven 7 to 8 months a year, If you live in the southern part of the country your truck could be worth more.

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Barlitz,
99.5 Black Lightning,
Hinge mount tonneau,
cd player,
bedliner,
lojack,

 

hey try selling it on E-bay,

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99' Black Bolt
Clear Corner lenses
PSP Filter (on order)


[This message has been edited by Yoda (edited 11-06-1999).]

[This message has been edited by Yoda (edited 11-06-1999).]

 

What is the process of selling on E-bay? What would need to be done?

Thanks
Metallic Blue

------------------
Death called while you were out, so I gave him your pager number.

• 1999.5 Black SVT Lightning
• (Lowered by Roush soon)
• (Filter charger kit soon)
• (Many mods coming soon)
• (I could keep doing this all night could'nt I)
• CD Changer,
• Tonneau Cover,
• Class III Tow Hitch.

http://www.angelfire.com/ct/pontiacmuscle/contact.html

http://www.angelfire.com/ct/pontiacmuscle/mycar.html

[IMG]

 

Is asking $30,000 to much with everything she's got?



------------------
Death called while you were out, so I gave him your pager number.

• 1999.5 Black SVT Lightning
• (Lowered by Roush soon)
• (Filter charger kit soon)
• (Many mods coming soon)
• (I could keep doing this all night could'nt I)
• CD Changer,
• Tonneau Cover,
• Class III Tow Hitch.

http://www.angelfire.com/ct/pontiacmuscle/contact.html

http://www.angelfire.com/ct/pontiacmuscle/mycar.html

[IMG]

 

Metallic Blue,

If you end up refinancing long-term, but think you might be able to pay it off prior to loan maturity (earn a bonus, get lucky in Vegas, hit the lottery, etc.), make sure you get a simple interest loan and not a Rule of 78's loan. The simple interest loan may run a slightly higher interest rate but there will be no penality for early (or late) term prepayment. With a Rule of 78's loan, however, most of the total interest is paid during the early part of the term, leaving mainly principal due on the back end. So, if you pay it off prior to maturity you don't save much, if any, over just continuing on with the monthly payments. On the other hand, if you are pretty sure there is just no way you could ever pay off the loan early, then go for the lower rate offered by the Rule of 78 lenders.

Best of luck,

Mike

 

Metallic Blue

I noticed you are from Ma. maybe taking your truck to the track in Epping New Hampshire on Wednesday nights with a for sale sign.That is track night open to the public.

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Barlitz,
99.5 Black Lightning,
Hinge mount tonneau,
cd player,
bedliner,
lojack,

 

Metallic Blue
I was in a store in the North End in Boston I happened to glance over at Auto Hunter magazine and there was a white lightning on the cover,The guy was asking $32500.its possible you could get what you are asking,with a little patience you may be okay and maybe make some money.

Good Luck

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Barlitz,
99.5 Black Lightning,
Hinge mount tonneau,
cd player,
bedliner,
lojack,