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Book values assume a good state of condition. My Ranger would be totalled from the accumulation of dents and dings overall by themselves. To me it means I got a reliable relatively low mileage truck fairly cheap. It can sit out in the weather never get washed or waxed and it will look practically the the same in 5 years. It uses no oil in 5 k miles and does everything I need it to do and if I get a couple of scratches when they dump 1000 pounds of gravel in it with a front loader or rub the bucket on the bed top, I won't let it bother me like it would if the body was perfect and the paint like new.
Let the "friend" make18 months payments until the value equals the amount owed, or take that "friend" to small claims court.
regards
Mech
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