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I'm working on selling my R and have had a couple interested parties complain that the car is priced much higher than book value and they therefore wouldn't be able to get a loan at that valuation. We all know this to be the case if you've ever bought or sold an R but we also all know that the book value doesn't typically reflect what our cars are worth.

I've heard it's fairly common to be able to get a loan in this case anyway, but I don't have any personal experience with it. Could anyone address this and share any personal experience so that I might be able to address this concern with any potential buyers?
 

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For anyone interested in purchasing your vehicle, the best option would be for them to have a larger down payment and finance a lower amount. Otherwise they could try going to a credit union and trying for an installment credit line that is not tied to the car. If the buyer has a savings account with a few thousand in it at the CU and good credit they should be able to get a loan. The larger banks are a pain to deal with, but a CU might be the right way to go.
 

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I thought most banks can loan up to 120% of the value of the car. I happened to do this on 3 seperate loans with USAA and the same happened when I refi'd my R back in 2011. The value that USAA said my car was worth was way higher than what KBB said and my loan balance. They told me some cars they can loan more than others based on resale, safety and other things, volvos lexus and Toyotas were some of those brands. I was like cool I'll take some extra cash along with that refi Lol.
I think the smaller banks would be the better solution it seems the big banks would rather loan on **** butt econo boxes and mediocre sedans like crysler 300's, avengers, fusions etc Lol.
Good luck..
 

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I furbished my CU with a list of Rs for-sale to show approx market value and they were happy with that. FWIW
 

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I don't know how the market is now, but when I got the loan on my 93 GMC Typhoon through the credit union I bank through just set me up.

I gave them all my info and they approved me for a loan, asked how much I was paying and how much I was putting down (and even said if I wanted I could put nothing down), and how long the loan I wanted was (they could have gone longer than the 4 years I went on it, but I wanted to pay it off). On collectors cars they really won't loan money unless you have real good credit and the loan ends up being more against you and not holding a nice new shiny cars as collateral.

I think with real good credit and the right credit union/bank, it doesn't matter.

You would also think people would have a little money saved up and could put $1,000 $1,500 or $2,000 down if they wanted the car that bad, but nobody puts money down on car loans anymore.
 

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I took a full loan out on my S60R last May including CA taxes and licensing fee, but the credit union did value my car more than that value as well.
 
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