It's that time again - appraisal question

[OSUbrew]

So i'm in the market to get a Viper again, i used to have a 99 Black/silver GTS. I'm looking at a 97 blue/white with 9800 miles on it for $45k, but just like last time i'm having a problem getting some paperwork that shows that the Viper is actually worth that (The bank wants it). As a matter of fact, it's even worse now. KBB is only showing $35k for a 97 GTS.

Not sure what to do, any ideas? I"m taking it to McCann racing tomorrow to get it checked out before i buy it.

 

[DLTARNU]

In the current market, a '97 B/W with 9800 miles simply isn't worth $45k.

 

[99 R/T 10]

I think it is, but it is on the high end of the valuation scale. You can get a little higher mileage B/W for the high 30s.

Not too far off the mark from these:
1997 - ViperClub Classifieds

There is a S/C 97 for less putting out over 750 HP:

97' GTS Paxton S/C - ViperClub Classifieds

 

[OSUbrew]

Ah, maybe i'll look around a bit more then. Just haven't seen any good deals. This one is just convenient because they'll give me a good trade in on my Mustang, otherwise i'll have to sell it first.

It's actually this one:

Dodge : Viper:eBay Motors (item 230366541239 end time Sep-10-09 18:43:11 PDT)

Not sure if anyone here knows anything about this Viper. It came from Florida. They got it at an auto auction so i'm probably getting ripped off at $45k.

Yea i saw those 99R/T10, that supercharged one is nice but i didn't really want a red one. Unless maybe the girl comes with it. =p

 

[DLTARNU]

Yeah don't rush the purchase. There are a LOT of really good deals out there right now. Take your time, shop around, within a month you will likely come across a deal too good to pass up.

$45,000 for a '97 B/W with 9800 miles is not one of those deals.

 

[terminator02]

I think 42k is a good deal and 40 is a steal. Anything under 40k on a b/w u are looking at higher milage and or stories....At the end of the day you get what you pay for. Also, how much is it worth to buy now and enjoy the rest of your riding season (being in Ohio). Is that worth a grand or two? So maybe offer 42k and enjoy the ride for the rest of the season instead of waiting until next year for 40k. IMO of course.

 

[BlackSnake99]

i'm having a problem getting some paperwork that shows that the Viper is actually worth that (The bank wants it). As a matter of fact, it's even worse now. KBB is only showing $35k for a 97 GTS.

I had the exact same issue with my '99 GTS. My bank would only go as high as 48500 because that is what KBB had as high value. USAA was gracious because their computer only went to 42. The car only had 4200 miles on it and I was buying it from a neighbor who had it since new (hence no stories). I decided that was worth the extra and just had to cough up cash.

Good luck.

 

[Chinook47]

Well a advertised price of 45k doesnt mean thats what they will sell it at. When I bought my GTS it was advertised in the 40's, but i was able to get them to knock around 5g's off and included inclosed shipping. So offer 40 and go from there.. In the mean time i guess its a dealership? Dont tell them you have a trade until you lock down the price on the viper first, then tell them you want to trade-in your mustang and this is what you want for it, if they cant swing it wait for something better to come along.

 

[Dom426h]

but just like last time i'm having a problem getting some paperwork that shows that the Viper is actually worth that (The bank wants it). As a matter of fact, it's even worse now. KBB is only showing $35k for a 97 GTS.

If in the condition presented, That GTS is worth every bit of 45K.
Not a fan of the wheels. Who makes those?

I assume your problem is that your bank dosnt want to give you a loan for more than what the vehicle is worth to them. This happens with ANY vehicle that obtains collectible status resulting in the actual market price being greater than the "book value".

Bottom line, the bank will only loan you for what it is worth to them, so if thats 35K, then take it and pay the remainding $10K in cash to the seller.

 

[OSUbrew]

They're Forgeline rims. I'm not a huge fan myself but i don't think they're too bad and they cost about $4000 so i'm sure i could sell them at a decent price if i wanted to. The car sounds really mean so i'm pretty sure it has some exhaust work. My 99 didn't sound like that. It has Baer brakes in the front.

They offered me a pretty good trade in on my mustang ($19000, i owe 19900).

I was thinking of telling them $43k and see if they'll pay off my car completely.

Other than that my other option is to just try to sell my Mustang outright and after that sells start looking again. I'd probably ****** up the first good deal that came along between a 97 B/W GTS or an 06-08 black Z06 Vette.

As for the book value thing, it's a credit union so i might be able to show them something other than kbb.com on the value.

 

[Dom426h]

As for the book value thing, it's a credit union so i might be able to show them something other than kbb.com on the value.

credit union shmedit union. Like i said, its about what its worth to the bank. If you end up being a dedbeat then they have to dump it at auction price for ~35K. Then they are screwed out of 10K. They are not capable of selling on the market for full price. They are not a used car lot, they are a bank. Therefor they will only loan the amount that financially makes sense to them.

Just to make sure you are clear on this: Many people think that borrowing the entire vehicle is the only option because that is what 99% of americans do.
You also have the option to pay for part of the vehicle, then take out a loan for the rest.(this way you actually own part of your vehicle

 

[plumcrazy]

id call JonB at partsrack.com and see if he can help you out

 

[BlackSnake99]

credit union shmedit union. Like i said, its about what its worth to the bank. If you end up being a dedbeat then they have to dump it at auction price for ~35K. Then they are screwed out of 10K. They are not capable of selling on the market for full price. They are not a used car lot, they are a bank. Therefor they will only loan the amount that financially makes sense to them.

Just to make sure you are clear on this: Many people think that borrowing the entire vehicle is the only option because that is what 99% of americans do.
You also have the option to pay for part of the vehicle, then take out a loan for the rest.(this way you actually own part of your vehicle

As I said above, I was able to sway USAA. Their 'black book' put the high value of a 99 GTS at 42. I was able to find a KBB velue of 48.5 on the web while I had the agent on the line. They actually went with the higher amount. I did have to cough up the difference but like you said I actually OWN part of it! I think it is the right front wheel, but I am not sure.

 

[james11]

I am at credit unions all the time for work and most of the ones in my area use NADA instead of KBB. All have different values/limits they use on it but most I find use NADA retail. You can usually get a car for less than NADA retail.

 

[james11]

As I said above, I was able to sway USAA. Their 'black book' put the high value of a 99 GTS at 42. I was able to find a KBB velue of 48.5 on the web while I had the agent on the line. They actually went with the higher amount. I did have to cough up the difference but like you said I actually OWN part of it! I think it is the right front wheel, but I am not sure.

I wouldn't say you own part of it. You could only say that if you knew you would be able to sell it for more than you paid.

I got my 02 Graphite GTS with 7k miles for 34.5k at a dealer this spring without even haggling. More deals will pop up if you wait.

 

[KNG SNKE]

id call JonB at partsrack.com and see if he can help you out

I second this. He kept my insurance from taking me to the cleaners so he might be able to help with the bank issue.

 

[BlackSnake99]

I wouldn't say you own part of it. You could only say that if you knew you would be able to sell it for more than you paid.

Don't rain on my parade. I was trying to make myself feel better.