Appraisal for a loan?????

[Ryan]

Lots of interest in my car. Everyone having trouble getting a loan. Just got word from a potential buyer said the credit union needs an "appraisal on a letter head". Since the car is so old it does not show up on there loan value chart. Anyone run in to this problem? Would hate to find a local appraiser and they give some ridiculously low number cause it's an ordinary "monte carlo SS "

 

[Squid4life]

Yes, that is becoming the norm because they are older and not "worth it" to them unless the car is appraised for a good value. When I bought my white T from a buddy I had to do the same thing. I used Pinnacle Auto Appraisers, which was $225. They did it all via emailed pics and a description of the car. They were very generous!

 

[BADDGUY6]

Hey Ryan,
http://www.turbobuick.com/forums/threads/appraisals.11323/#post-72187
Try him. I don't know if it's still $45? But give him a call and see. Let me know how much now.

Thanks,
Guy

 

[Ryan]

That would be awesome but the number has been disconnected.

 

[Charles Young]

My credit union used the NADA retail value and said I could take a $20k loan against the car, much more than I had just paid for the car. It's funny if you look up the NADA value for an 87 GN, you get a value deduct for a 6 cyl engine.

 

[Jshailor1871]

My credit union also used the NADA value. She was actually surprised when the numbers came back. The only thing they needed was a picture of the car in question, in order to verify condition.

HTH

-John

 

[Charles Young]

Yeah mine was surprised too. How could an 87 Buick be worth that much!!??

 

[Ryan]

Thanks. Found a local used car lot "lone star" that will do it for $100. Most other places are CONUS companies and have local appraisers. But they charge about 3-4 hundred bucks.

 

[Jshailor1871]

Yeah mine was surprised too. How could an 87 Buick be worth that much!!??

Haha that's exactly what she said, then she asked what was so special about the car... I gave her a brief history lesson and she finally understood.

John

 

[626gn]

Thanks. Found a local used car lot "lone star" that will do it for $100. Most other places are CONUS companies and have local appraisers. But they charge about 3-4 hundred bucks.

Lone Star has a very shady reputation. Hopefully for your purposes it should be ok. Good luck and let us know how it goes.

 

[x96283]

What about the appraiser guy that Kirban's uses-- Terry Shaw? Maybe you could do something over email with a well-reputed resource? Of course, the fee may be high(er). I drive through the Lone Star lot twice per day to get to my wife's work... what day you headed down there? I want to go check out the Viper RT/10 I spied through his fence!