Private Party Purchase?

[Techguy82]

So I currently have a 2016 XLT with the 2.7l and 5.5 ft bed engine and am looking at getting into a Tremor. Dealerships are asking crazy money for them now and inventory is super low (as most of you are aware haha). I have seen some used private party Tremors optioned the way I want for like 7k less than MSRP and it sounds tempting. I've never purchased a vehicle from a private party that I would also need to finance a portion of (always paid cash for used, older vehicles or new from dealer) so this is new to me. For those that have bought from private parties how difficult is it arrange payment of new vehicle and facilitate selling a vehicle that is paid off while getting a loan to cover the difference? I could get a loan from my local credit union, but I would have to sell my existing vehicle before hand so I can apply that money towards the new vehicle. or can I get a loan for the whole amount and sell after? Should I sell my current truck private party or just sell it to one of the dealers near me like Carmax? I'm confused if you couldn't tell haha! Thanks!

Oh, to add, I'll also need to put my truck back to stock. I'm assuming all of these will transfer over to the new truck:
-Softopper
-Bedrug
-RAS (Roadmaster Active Suspension)

 

[Bannerman]

The guy that bought my Tacoma recently just got a certified check and met me at my bank do deposit, then I signed over the title. I think he sold his truck after and just put it towards the principle of his loan.

You will likely get more selling it private party vs trading it in, but it's probably worth getting a quote to purchase at Carmax or similar.