Moped equity loans

Ugh,

I noticed today my car's trade-in-value was less than i'd be willing to trade in my moped for. Any bankers accept mopeds as collateral? How many of you would part with your old beloved moped before you'd give up your dingy car?

Re: Moped equity loans

Reeperette /

Not many, ha !

I once traded a 1982 Dodge Aries (used, 55,000 miles, piece of shit that broke down every 300 miles) in for a 1989 Tomos Golden Bullet (new-in-box)...and I consider that one of the best deals I ever made.

As a result, my net income (the part I get to keep after bills and stuff) tripled !

Not getting reamed on emissions, insurance and costly repairs is a good thing.

In all honesty, mopeds don't generally have enough resale value to be acceptable as collateral, but if you are dead-set on this...try the buy/sell forum, I am sure someone would take it off your hands, and you can then increase your downpayment on a new car by that much and substantially reduce any loan costs or difficulties involved.

-Ree

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