Are Truck Conversions ever "Repossessed" and then resold for a big discount?

[BravestDog]

Wondering if you folks know what would happen to a Truck Conversion that is purchased with a loan, then the buyer is unable to complete the payment schedule for whatever reason.

Where would the truck conversion go to and how would they sell it?

Is such a scenario likely or possible...?

 

[SRHD]

Yes. I just bought a repoed GMC 4500. It isn't quite as "converted" as what you guys are doing but it is pretty nice and it will be a better puller than the ton PU. I bought it through a friend that has a truck sales business. He really only handles HDT's but he had recieved an email from a bank about this truck. It has some body damage and is missing two wheels but it only has 82000 miles on it and cost $8000. I think I can live with having to put a couple more grand in it to make it road ready.

Here are some pictures as it is at the moment.

 

[geofkaye]

.....I'd have to check with USBank tomorrow....I know that they have done it cuz the mgr. mentioned it to me-----but I wasn't interested in it at the time[Boy did I skru up that time!]....geofkaye-[hanging head in remorse]

 

[dgorila1]

SRHD,
Whats your friends business name and contact info (email, phone, etc)? Does he get rigs like this on a regular basis that sell for a good price (MDT's and HDT's)? When I'm ready to buy a rig I'd prefer to buy it from a dealer that specializes in trucks since most of them know the units and what to look for/service. Nice truck ;-)

 

[BravestDog]

SRHD

1. Do you have any idea of how much the dealer paid for the truck or how much he made on the sale?

2. Do you know how much your truck would sell for today in same condition, like in a used truck ad?

3. Do you know the history of your truck? It looks like it has a name on the door. Did you research that name and talk to the previous owner?

 

[SRHD]

The truck sales business is All Truck Sales

I do not know how much they paid for the truck. I was talking to him about something to pull a 34 foot livestock trailer thinking I might find one of the smaller International's with a DT 466 or something. I really didn't want spend more than 10 grand. We were on the phone and I was telling him what I wanted and he said that he had received an email a few days before about this one. He took care of all the negotiations with the bank. I hope he got something out of it. Although he may have just done me a big favor. Don't know.

As far as a retail price, I have seen similar trucks on Ebay for $20000 to $30000. There is a new one on Ebay right now that is very similar but NEW with a buy it now for $59000. I really never paid that much attention to it because I never thought I would get something this nice.

I did get the warranty history. I called the company that owned the truck but the phone was disconnected. I think they went belly up being how this was repoed.

For the money I didn't think I could go too wrong. It cost me $650 to get it shipped from Detroit to Kansas City. I've put another $500 in small misc. parts so far. Had to get the air compressor straightened out and working. I plan on pulling it for a few months to make sure it is mechanically sound, then I'll get a steel flatbed for it. The rear bumper is bent up and the passenger rear fender is tore up. We have a ranch and with farm tags I won't have to bother with any kind of inspection.

 

[SRHD]

Just FYI here are a few of the Ebay trucks:

auction 1

auction 2

Here is an interesting one. Little older, 92 model. Looks like a straight old truck though.

auction 3

 

[geofkaye]

...Katrina trucks are still out there-just like the trailers and cars are still available....[including the sea weed for those of you that like that stuff].....the '92 is worth less than 8 grand....mileage is too high to be a cherry....."you can't tell a book by it's cover"-though.....is appropriate here in this discussion.... not saying that this is a wet truck-but is is very possible.....there are a zillion RV unites for sale these days choose wisely and pay what only you want to......geofkaye

 

[SRHD]

I never even thought about the "wet" truck thing. Mine came from Michigan so I'm not worried there.

 

[Bob86ZZ4]

There is an auction site that sometimes has truck conversions I've seen: www.crankyape.com

They deal with repo and insurance loss stuff.

 

[Lexxi]

Carfax will, in some situations, tell you where the vehicle came from. When i say some situations, it is sometimes possible to change the VIN when you do a major conversion, i'm told.