Posted by JohnDeereJimOhio on January 13, 2013 at 16:31:27 from (24.140.54.235):
Hey all i wrote the other day that I bought a new truck, and was trading in my old powerstroke... Well I pick my new truck up saturday, and they offered me 8500 for trade in which was a good trade in value but the truck was worth more than that. Anyway I put it on craigslist for 10k and sold it, to the first guy that looked at it. he is getting a loan for it.. My question is i owe 5800 on my truck so the difference is 4200.. How does his bank handle this.. Do they pay the truck off and then give him the money to give me? Or do I have to go get a check... Also im using the money for my down payment on my new truck so i dont want to wait on a check to clear for 5 days... If i go to his bank they should give me cash right?? Any help on this is appreciated... I have never not traded one in so idk how it works... Thanks, Jim
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