I need to know what the loan value is on a 97 cobra with 89000 miles. Would like to know if its worth going to the bank tomorrow. Thanks in advance!
Chris
Chris
I can't imagine them going for anymore then maybe 12-13K
He wants to know the actual value, not what you guess it might be. :read:
The amount someone is willing to pay is the actual value. Can't really go by nada or blue book for actual value.
NO. The BOOK value is what the bank will go by. Please stop posting about things in which you have no knowledge. Thank you.
No shit, But some people go lower or higher then book value. Not many banks will give you a loan if any on a 11-12 year old car.
KBB came back with a private party value of $7070. Nada came back with $6000 for clean trade in. I'm not such which of these the bank goes by, however.
they go by retail they use NADA.
It depends on a lot of factors. It DOES matter what the book value is. Banks do not care if you would pay 20k for a car. If it only books for 10k they aren't going to loan you more. :read:
Exactly. Prime example a friend of mine bought his 03 last summer, dealer wanted 27k, he talked him down, dealer let it go for 24k, bank only would loan 21k. He is kind of right though about getting an auto loan for an 11 year old car.
No shit, But some people go lower or higher then book value. Not many banks will give you a loan if any on a 11-12 year old car.
they go by retail they use NADA.
Depends on the bank. Some banks and credit unions use another NADA publicaiton called "cars of particular interest". It is a book that covers the so called collectable cars and if it is in there you can get a loan regardless of age. The prices are a bit higher than the normal NADA books as well. Cobras are listed. My credit union will make a loan on a 20 year olf car if it is listed in that book.Exactly. He is kind of right though about getting an auto loan for an 11 year old car.