Roughly how much would monthly payments on a 2020 53FT dry van

ASK the company making payments on the trailer right now what the payments are.

 

awfully silly to finance a trailer longer than you can depreciate it for…

 

What ?
1400 a month times 60
Months is $84k

At 7% if would be $2k per month

 

The finance company that’s holding the loan may not allow you to take over the loan .

 

Mine won't, they accept an early pay off of the loan and then they give a lein termination letter.

The other part if the OP is still around, I would never trust anyone, this is a business and keep it all business.

If you can't finance the trailer yourself, then walk away.

 

Error. My bad.

$1700.

Still don't sound right though.

 

Doesn't that all boil down to how much he originally bought the trailer for, and how much he's already paid down on it, and has he missed any payments. I know on cc if you miss a payment then your minimum payment will go up, but I don't know anything about trailer sells and financing.

 

Do schools teach any kind of math these days? .... Sounds like someone in fixing to get it in the ###

 

I know “take over payments” is a term that is tossed around a lot, but no bank is going to let somebody do it where the new owner just picks up the payments where the previous owner left off. The new owner has to get their own loan with their own new set of payments.

Now I have seen where the previous owner keeps the item in their name and requires the new owner to make the payments to them. This can turn into a bad situation for several reasons.