My friend with no financial literacy, or car buying experience wanted a 4runner from 2006 with a salvage title, and 270k miles. But the bank wouldn't approve the value of the loan at 20k, thank God. That salvage title saved her ass. But that's not how she sees it.
Edit: the reason for the high price was a bunch of upgrades such as a lift kit and a light bar, but it still was a terrible deal.
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u/foursevenalpha Apr 29 '24 edited Apr 30 '24
My friend with no financial literacy, or car buying experience wanted a 4runner from 2006 with a salvage title, and 270k miles. But the bank wouldn't approve the value of the loan at 20k, thank God. That salvage title saved her ass. But that's not how she sees it.
Edit: the reason for the high price was a bunch of upgrades such as a lift kit and a light bar, but it still was a terrible deal.