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SVTPerformance's Chain of Restaurants
The Market
Vehicles For Sale
Cobras Buy/Sell
Cobra Buy/Sell Archive
FS: Teal 93 cobra 33k miles
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<blockquote data-quote="mysterio" data-source="post: 7750202" data-attributes="member: 79728"><p>It's a great looking car all around, and it's not likely that 'nobody wants a low mileage 93 cobra.'</p><p></p><p>What your'e running into is our crippled economy (you don't need me to tell you that), and a stricter loan environment.</p><p></p><p>For example, I work in a bank, and I know with banks tightening their lending belts, it's going to be difficult for someone to get a large loan on a 16 year old car, nice though it is. Unfortunately, a bank isn't going to look at these nice pics, they're going to look at book value, and calculate their dollar amount that they're willing to be on the hook for.</p><p></p><p>Specifically, your car, as a clean retail value, is listed at NADA for about $7,662. Now, is your car worth more than that? It clearly appears to be. But your *average* loan officer at a bank isn't going to go on the hook for that amount, nor obviously over it. So you need the *right* buyer that isn't going to have to depend on a loan situation.</p><p></p><p>Don't shoot the messenger, and I'm not debating or questioning the value you think the car is worth, I'm merely trying to elaborate on a painful environment for sellers.</p><p></p><p>Good luck, it's a beautiful car, hope you can get what you want for it!</p></blockquote><p></p>
[QUOTE="mysterio, post: 7750202, member: 79728"] It's a great looking car all around, and it's not likely that 'nobody wants a low mileage 93 cobra.' What your'e running into is our crippled economy (you don't need me to tell you that), and a stricter loan environment. For example, I work in a bank, and I know with banks tightening their lending belts, it's going to be difficult for someone to get a large loan on a 16 year old car, nice though it is. Unfortunately, a bank isn't going to look at these nice pics, they're going to look at book value, and calculate their dollar amount that they're willing to be on the hook for. Specifically, your car, as a clean retail value, is listed at NADA for about $7,662. Now, is your car worth more than that? It clearly appears to be. But your *average* loan officer at a bank isn't going to go on the hook for that amount, nor obviously over it. So you need the *right* buyer that isn't going to have to depend on a loan situation. Don't shoot the messenger, and I'm not debating or questioning the value you think the car is worth, I'm merely trying to elaborate on a painful environment for sellers. Good luck, it's a beautiful car, hope you can get what you want for it! [/QUOTE]
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SVTPerformance's Chain of Restaurants
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FS: Teal 93 cobra 33k miles
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