Selling My Truck on Payments? | How to Seller Finance a Car

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Selling My Truck on Payments? | How to Seller Finance a Car

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Күн бұрын

Watch Me Seller Finance a Truck | Car Flip Hacks
If you’ve been around my channel for a while, you’ve probably heard me talk about seller financing vehicles. I’ve done before and I’ll do it again! Watch me seller finance my truck for even more than it’s worth!
Watch my original F150 breakdown: 👇
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❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a KZfaq video for entertainment purposes ONLY ❎

Пікірлер: 130

@happytenants Жыл бұрын

I would love to see a video how you protect yourself if the buyer stops paying and does return the car or the car gets destroyed and totaled. Would insurance cover. Do you use a repo to get the car back. Started doing some research. Can you tell us what you would do.

@purpleheartmark Жыл бұрын

I plan on using a kill switch tracker

@victorvidana206 Жыл бұрын

I would like to know as wel

@KrisDC2 Жыл бұрын

Of course he won’t make a video of that. Buyer wrecks the car and has no insurance and stops paying = your screwed.

@waffle_chair9269 Жыл бұрын

You could add insurance to the repayments to make sure they are paid, but yeah, how he ensures they pay, might just come down to instinct on choosing the right people.

@you7uber5 Жыл бұрын

kzfaq.info/get/bejne/paiEdZd8v7_coWw.html

@LauraMorby Жыл бұрын

I’m sad it’s gone! But you deserve a new truck for how hard you work!

@theodoreanderson4204 Жыл бұрын

Hey Laura! Did Pace ever make a follow up video on this deal? I can’t seem to find one with you negotiating with buyers. Thanks!

@rachelcope6853 Жыл бұрын

Wheres the next video where you screen the calls and is there a video showing how to draw up the contract? Love this!

@premiercarpetcare7176 Жыл бұрын

When is part 2 coming??

@The100Billionaire 11 ай бұрын

Not enough comments probably

@knpstrr Жыл бұрын

Downside is someone craps out on a payment. The hassle of repossessing it and on top of that it is 100% guaranteed the truck will be trashed if you have to take it back. So it isn't all roses, it can pay off, but if it goes sour, it's going to suck big time. People that are going to go for his type of financing are going to be low end so the likelihood of default will be higher. I'm sure it can be done, but be careful.

26 күн бұрын

wise words

@seanhassard5668 Жыл бұрын

Where’s the rest of the parts to this series?

@JoeGlascockJr Жыл бұрын

Can't wait to see the paper work and how you vet the buyer

@delorisson Жыл бұрын

Ditto

@MovingtoMiami Жыл бұрын

Same here. How do you protect yourself from a total loss

@JoeGlascockJr Жыл бұрын

@@MovingtoMiami you never can. The world isn't absolute. You have no guarantee that someone's job will stay around to pay you back. (Hell you don't even know if the person will be alive next week. And their cousin took the car right after and sold it to a shop to pay for the funeral!) Life is Risk my friend. But to answer your question 😂 you make sure if it does become a total loss, would you be okay after and not in a bad struggle for it?

@MatthewMiddleton-ee7su Жыл бұрын

So I like it. What about a video on how you can sell the note to another bank / creditor so that you cash in on your risk after you have gotten a few payments

@Etherchannel Жыл бұрын

I saw this homeless guy the other day and using the sellers finance method I sold him that six pack at 700% interest.

@CJ-gh5wq Жыл бұрын

So what happens if the motor blows at 200k miles?

@lucycaro6131 Жыл бұрын

What would happen in the event that the buyer decided to stop paying you?

@kerrybrown4416 Жыл бұрын

Repo, I’m assuming. And with having the tracker, you’ll know where it is

@theodoreanderson4204 Жыл бұрын

Hey Pace! Did you ever make a follow up video on this deal? I can’t seem to find one with you negotiating with buyers. Thanks!

@TonyMosconi Жыл бұрын

thats this one: kzfaq.info/get/bejne/paiEdZd8v7_coWw.html

@you7uber5 Жыл бұрын

kzfaq.info/get/bejne/paiEdZd8v7_coWw.html

@herofoundry 10 ай бұрын

Yeah where are the part 2 and 3 videos?

@ptonfire1 Жыл бұрын

No they are tampering with the mileage speedometer. Great vid brother.

@PaceMorby Жыл бұрын

Thanks 👍

@TheYuriah Жыл бұрын

You never need to worry about someone getting drunk and crashing your house.

@JoeGlascockJr Жыл бұрын

Require full coverage on the car

@GraphixMon Жыл бұрын

@@JoeGlascockJr they can get insurance then cancel after they provide proof to you.

@JoeGlascockJr Жыл бұрын

@@GraphixMon "So, if you don’t keep full coverage on a financed vehicle, whether because you miss payments or you purposefully cancel the coverage, you’re likely in breach of your contract. Your insurance company or the DMV may contact the lienholder (lender) to alert them of the change, at which point your lender can legally cancel your contract, request full payment of the loan, or even repossess the vehicle. Sometimes, if your lender finds you’re not keeping full coverage on a financed vehicle, it will contact you to give you a chance to have it reinstated. If you fail to do this, your lender could purchase an auto insurance policy for the vehicle and add it to the cost of your loan in what’s called “force-placed insurance.” These policies are typically expensive."

@GraphixMon Жыл бұрын

@@JoeGlascockJr love that response thankyou 💎

@Nicklee-ju1zo Жыл бұрын

You’re the man Pace! I wish I was as smart as you!

@CooperLandingFishingGuide Жыл бұрын

Ya'll already know I'm buying this :)

@gld87 10 ай бұрын

Is there a part 2 to this like mentioned?

@PaceMorby 10 ай бұрын

There's a whole playlist of SubTo vehicles--go check it out!

@claudialucas7241 3 ай бұрын

Can u bring to us to see it we would have to make payment. No down paymets

@Dom-os8vt Жыл бұрын

Hey Pace, I am in AZ too, I have a quick question. Who do you use as a 3rd party for collecting payments, when seller financing?

@Cd14180 Жыл бұрын

Same would love to know. Also if i have a loan still on car what kind of contract can i use. Like what happens if they default on payment?

@marcusherrera5223 Жыл бұрын

I am also in Az but Im a bit in a pinch, sold my car to my step cuz but I need a contract in place to make it enforceable!

@bbannannassu Жыл бұрын

When is the video #2 coming out? I am trying to buy an RV as sub-to

@tyvondavis 10 ай бұрын

How do you protect yourself if buyer totals it or something?

@user-zg7lt3ic9u 4 ай бұрын

Exactly, and how do vet the buyer to ensure payments

@tyvondavis 4 ай бұрын

@@user-zg7lt3ic9u this sounds good, but it ain’t it. Trust me. The only reason why he is able to do this is because he’s worth millions and has a name for himself.

@mikemolinag2213 Жыл бұрын

hey Pace! would you happen to have handy the link for the vehicle tracker you've used? it would be super helpful!

@joeldavidrojas Жыл бұрын

When is part 2 coming?

@jatoyaharris8574 22 күн бұрын

What do I do with paperwork after I get it signed ???

@robbiebaker Жыл бұрын

I love that I have the same exact truck as the Pace Morby. It’s a sign that it’s time to join Subto.

@keatontempesta2364 Ай бұрын

But option B has the lower down payment 6:08

@Resteasy8686 Жыл бұрын

Aren't comps usually done on sold items tho? It doesnt mean these people are selling trucks for those prices. 23k sounds good as cash price without terms.

@JoeGlascockJr Жыл бұрын

Me personally I would've looked at sold from a different car website that has that Data.

@nogameenvy3473 2 ай бұрын

Should I sell a car I financed on a seller contract? Also…how would I do so? I need help getting out of a contract with carvana.

@PaceMorby 2 ай бұрын

Ask this question in the free Facebook group paceapproves.com/freefb-ytp

@medialambmarketingandtechs2405 8 ай бұрын

We need Part 2….get on your job Pace Team

@thenick95051 Жыл бұрын

How would you draw up the contract? With a house there's a title company but with a car....how do you keep from getting scammed?

@jeremycash32 Жыл бұрын

Tracking devices and shut off system

@thenick95051 Жыл бұрын

@@jeremycash32 is that legal? What if they drive the car out of state

@sydneyparsley408 3 ай бұрын

Thanks brother

@PaceMorby 3 ай бұрын

Any time

@grimeybeast1465 11 ай бұрын

Another question: How many cars can I seller finance before I have to register as a dealer?

@egozttb72 5 ай бұрын

This didnt answer any of my questions, what do i need to do to protect myself from idiots who crash or dont make payments

@PaceMorby 5 ай бұрын

Do your due diligence, vet the person, put a tracker on the vehicle, make sure they get the correct type of insurance,

@OnlyUs-rn5do 2 ай бұрын

Hey I was in a in house finance with a family member I owed 3500 left on truck … drunk driver hit the truck and totaled it … I have payment for truck and my insurance. My family member want the whole 11k check only how I can pay my debt . Is that right or she only supposed to take what’s owed

@PaceMorby 2 ай бұрын

Ask this in the free Facebook group paceapproves.com/freefb-ytp

@premiercarpetcare7176 Жыл бұрын

Part 2?

@mikemolinag2213 Жыл бұрын

when are the next videos coming up?

@Mvsanjonco 10 ай бұрын

What happens if they crash it and stop making payments?

@HolyRootsRecords Жыл бұрын

how would it work if they owe bank and they don't want to default on the vehicle is it still possible?

@herofoundry 10 ай бұрын

Where’s part 2??

@PaceMorby 10 ай бұрын

I have a whole playlist about SubTo cars! Definitely check it out!

@MetaBookT Жыл бұрын

lol nice. Just did this with my buddy on my Kia forte 😎

@ap405 Жыл бұрын

How did you write out the contract ?

@itsjacobgandy Жыл бұрын

Thanks bro, new skills!

@PaceMorby Жыл бұрын

Happy to help!

@davidstreit433 Жыл бұрын

Comps by looking at asking price? I'm old school real estate, comps are what was sold, not asking price. However this is not real estate

@thebeerambassadorocmichael7388 Жыл бұрын

Pace I'm looking to seller finance a Dodge Durango 4x4 HEMI, how does the paperwork and payments work?

@justablackdude5423 Жыл бұрын

I love this

@uliseszuniga8551 Жыл бұрын

I'm negotiating a seller financing deal with an agent who's representing a homeowner who's free and clear. The sellers agent is requesting paystubs and credit score screening. How do you respond to something like this? Is this unusual?

@Resteasy8686 Жыл бұрын

Just show them credentials so it limits risk for them.

@uliseszuniga8551 Жыл бұрын

@@Resteasy8686 thanks!!

@TheTREVOR62 Жыл бұрын

When's video 2!?

@danielmiramontes8611 5 ай бұрын

What gps did you use ?

@theChef1337 Жыл бұрын

Is video 2 out yet?

@grimeybeast1465 11 ай бұрын

Can you sub-to a car, turn around and seller finance it?

@0223Jeremy Жыл бұрын

If that’s a platinum it’s worth high 20s

@amriekleinlein 4 ай бұрын

Part 2?!

@PaceMorby 4 ай бұрын

Check out my full playlist for more videos on this topic kzfaq.info/sun/PL2Y6uEs9DYr2dWIVfC-B70OJ6bBYi5yL0

@johnesquivel8884 Жыл бұрын

Hey pace, I literally was watching a video this morning with a guest you had talking about investing your Roth Ira and 401k on real estate investments & now I can't find it! Just curious, Did it get removed!? I looked through my recent videos watched and it disappeared!

@you7uber5 Жыл бұрын

9 percent isnt crazy buy here, pay here are charging 24%

@brad265 Жыл бұрын

How do you get it back when they stop paying? Too risky.

@cashofferorterms Жыл бұрын

GPS tracking, kill switch

@JoeGlascockJr Жыл бұрын

Call a company to repo it

@SpiderLikeGirl Жыл бұрын

That's the hard part. Figuring blue book and interest payments is the easy part. This video was essentially worthless. Who holds title, car gets totaled, who insures the car, how is registration done, etc. That's what we all wanted to know

@brad265 Жыл бұрын

@@SpiderLikeGirl agree completely

@justricca2028 Жыл бұрын

@@SpiderLikeGirl would love to know this!

@Nicklee-ju1zo Жыл бұрын

Beautiful

@ramirorubio1849 10 ай бұрын

2015 super crab 🦀 crew 😂😂

@utubedude2842 Жыл бұрын

Come on man, you have enough street cred to drive a Dodge.

@StrongBodyandMind33 Жыл бұрын

Sad part is, a stupid person will buy it for way more than it’s worth

@rhb30001 Жыл бұрын

I hope the world stops with the all this greed …

@boomseen Жыл бұрын

No. 1 technique to attract bottom of the barrel borrowers.

@dinerodinero1097 5 ай бұрын

Goofball basically a one man buy here pay here scam price the truck double of what it’s worth plus interest fukkouttaheeaa

@Nxsai Жыл бұрын

Isn't this taking advantage of the poor?

@williamdavies1977 Жыл бұрын

The interest on used vehicles is as high as 22% to 29% (using fees to exceed interest rate limits). The buyer would still have an opportunity to refi into better terms if their credit profile improved. This provides an option to those people who have steady work but not the credit to go through traditional lenders.

@seymourbutts2530 Жыл бұрын

Do all the other businesses not do the same?

@Nxsai Жыл бұрын

@@seymourbutts2530 no

@dlewdm Жыл бұрын

Biggest question would be how you can repo the car if they don’t pay

@PaceMorby Жыл бұрын

Ask the banks that give these types of loans all the time.

@johnnyroc Жыл бұрын

Bro talks about nonsense everybody knows instead of the obvious risks of seller financing and what your world is gonna look like once the random stops making payments and turns off his phone.

@StephanSandersSSS69 Жыл бұрын

The least you could do is get the damn truck mint for the family that will desperately commit and rely on it as transportation. STR8 slimy Brother. It will come back to you tho. Probably the truck, too. But mainly the karma of your sharky little ethics. Way to give back, from the Blessings you have received.

@LauraMorby Жыл бұрын

Not everything has to be charity. Pace has worked his guts out and sacrificed for every penny he has. Truck is a sale on open market. Buyer can choose to buy or not buy. There were times I couldn’t get a loan to buy a car and had no air conditioning for 4 years in Arizona. I would have loved a seller finance opportunity at that time - regardless i😊f the mirror was broken.

@Chiefbadbruuuuuh Жыл бұрын

Dude, when I struggled before being in real estate, I bought a car at NINETEEN percent interest… but the payment was affordable and fit with my income at the time. Welcome to the world of Finance. 9% is historically very average.

@StephanSandersSSS69 Жыл бұрын

I understand, but it sets a bad precedent and 9% on 40k? That is predatory. Long way from charity. *which is incidentally tax deductible. But I respect Pace and i get it. It’s not about the damn truck, It is meant to illuminate the potential of creative finance.

@PaceMorby Жыл бұрын

Thank you for the comment.

@Braedenfish Жыл бұрын

Ura str8 uneducated hater of the little guy. Are u going after rent to own stores, check cashing places, predatory credit card companies, payday loan outlets, convenience stores, buy here pay here lots, laundry mats and all the other businesses whose primary customers are true poor whom they SHAMELESSLY EXPLOIT. I did a series on this in college. This guy is not the problem..... he CLEARLY is NOT targeting poor ... his customer is a cash heavy buyer bent on convenience. Get your priorities in order.

@fmjjr339 22 күн бұрын

Robbery😂

@RobertHasty Жыл бұрын

The real reality is the buyer is getting fucked no matter which way you spin it lol

@Resteasy8686 Жыл бұрын

Not true. You don't know their situation. This transaction is much more trasparent then a dealership. They agree to the terms and willing to take it on. No one is forcing them. Maybe they have no credit and can't afford to finance conventionally.

@gabeortega776 Жыл бұрын

Bruh that truck not even worth 10k 😂 i feel bad for anyone buying a ford already and when the transmission goes out you better replace it for them. I always tell ppl, why try and be tacky just buy a toyota 😂

@starr8111 Жыл бұрын

Honestly there was no value in this video you have to do better

@bobbyadams9263 Жыл бұрын

This video is full of value. Did you even watch it Sara? Or just being negative

@williamdavies1977 Жыл бұрын

The value is that this can be applied to nearly anything that a person wants to sell. Imagine selling a paint sprayer for 25% more bc you took on payments. A win/win for both seller and buyer.

@Braedenfish Жыл бұрын

How about u one up him.

@tylerdaviscoaching Жыл бұрын

I want to do this. When’s part 2 coming out?!