finding a loan?

[gobuffs]

I am trying to get a loan on a 2002 SHowhauler toterhome and every bank is using NADA which is WAY too low for the truck. The NADA value is half of reality. I am getting a 40+ foor Performax trailer with it, but the banks can't even valuate that.

Any lenders that can lend not using the NADA values?

Thanks.

 

[Camping Dutchman]

can you grab a home equity and go at it that route? Its hard because most conversions sell for 120-140% of nada value...

 

[geofkaye]

.......ya looking at wholesale or retail amounts?...what is the low and high for the vehicle?....the market is tanked-don't let anyone tell you otherwise- so I'd go half of what he wants in cash through a home equity loan....now about 4.25% or less.....anyway other than that will cost you money in the long run.....as it is a _buyers market_ now....so let the games begin and negotiate- negotiate- negotiate!....geofkaye

 

[gobuffs]

Can't do a home equity loan for a variety of reason. NADA retail is ~$50k. Asking price for truck and trailer was $125k, I got it for $100k with 2 race cars thrown in that are worth $10-20k each. Found a bank to do the loan (albeit creatively).