Printable Version of Topic
Click here to view this topic in its original format
914World.com _ 914World Garage _ Financing a vehicle purchased on Evil Bay
Posted by: Ctrout Apr 21 2006, 09:34 PM
So what do you do if you want to buy a $30,000 car on Evil Bay and don't have the cash? Do you get preapproved for a loan before you bid or what? Would the bank laugh at you if you walked in and said "so I want to bid on this car on Ebay and I want you to preapprove me for $30,000 so I can bid on it"?
Posted by: Headrage Apr 21 2006, 09:39 PM
Would the bank laugh at you if you walked in and said "so I want to bid on this car on Ebay and I want you to preapprove me for $30,000 so I can bid on it"?
[/quote]
Get the cash in hand wether it be from your savings or from the sock under your bed but be ready to pay.....
Posted by: Ctrout Apr 21 2006, 09:50 PM
So does this mean that it's generally only possible to do Ebay purchases with cash and financing is generally not possible? Suck for us poor folk.
Posted by: GWN7 Apr 21 2006, 10:00 PM
Most banks want security for any loan. They usually use a "Book" value on the car (if the car isn't listed in the book it's usually too old to be used as security). They also want the serial number of a security car and check to see if there is anyoutstanding loans against it.
Thinking of a silver 914? 
Posted by: Lou W Apr 21 2006, 10:02 PM
E-bay has its own financing center
Posted by: Ctrout Apr 21 2006, 10:07 PM
Most banks want security for any loan. They usually use a "Book" value on the car (if the car isn't listed in the book it's usually too old to be used as security). They also want the serial number of a security car and check to see if there is anyoutstanding loans against it.
Thinking of a silver 914?
You selling a silver one that I should be looking at?
Posted by: Lou W Apr 21 2006, 10:09 PM
Most banks want security for any loan. They usually use a "Book" value on the car (if the car isn't listed in the book it's usually too old to be used as security). They also want the serial number of a security car and check to see if there is anyoutstanding loans against it.
Thinking of a silver 914?
You selling a silver one that I should be looking at?
That sure looks like a pretty nice car, I've been watching that one too, but I'm just a lurker.
Posted by: Ctrout Apr 21 2006, 10:09 PM
E-bay has its own financing center
So I guess I could finance through Ebay to get the car home then refinance it at the more desireable rate with my own bank after I take posession. That would work I guess. Or I could take out a loan against one of my other vehicles provided that it's worth the purchase price of the car I'm buying.
Posted by: Lou W Apr 21 2006, 10:13 PM
E-bay has its own financing center
So I guess I could finance through Ebay to get the car home then refinance it at the more desireable rate with my own bank after I take posession. That would work I guess. Or I could take out a loan against one of my other vehicles provided that it's worth the purchase price of the car I'm buying.
I noticed their advertisement, I really don't know too much about it, I would think that there must be lenders who loan money on collector cars, maybe an internet search would find some?
Posted by: GWN7 Apr 21 2006, 10:30 PM
Most banks want security for any loan. They usually use a "Book" value on the car (if the car isn't listed in the book it's usually too old to be used as security). They also want the serial number of a security car and check to see if there is anyoutstanding loans against it.
Thinking of a silver 914?
You selling a silver one that I should be looking at?
I thought you were thinking of http://cgi.ebay.com/ebaymotors/Porsche-914-914-6-RS3-8-1970-Porsche-914-6-w-3-8-RS-Motor-113k-work_W0QQcmdZViewItemQQcategoryZ6430QQitemZ4631249642QQrdZ1QQsspagenameZWDVW one....it's at 30K....If i owned it, I wouldn't be selling
Posted by: Lou W Apr 21 2006, 10:37 PM
Most banks want security for any loan. They usually use a "Book" value on the car (if the car isn't listed in the book it's usually too old to be used as security). They also want the serial number of a security car and check to see if there is anyoutstanding loans against it.
Thinking of a silver 914?
You selling a silver one that I should be looking at?
I thought you were thinking of http://cgi.ebay.com/ebaymotors/Porsche-914-914-6-RS3-8-1970-Porsche-914-6-w-3-8-RS-Motor-113k-work_W0QQcmdZViewItemQQcategoryZ6430QQitemZ4631249642QQrdZ1QQsspagenameZWDVW one....it's at 30K....If i owned it, I wouldn't be selling
That's the one I liked, but if I were really in the market for one, I'd look seriously at Craigs (Camp914) Black Widow.
Attached image(s)
Posted by: grantsfo Apr 21 2006, 10:40 PM
How is your credit and do you have assets?
Posted by: Lou W Apr 21 2006, 10:43 PM
I just noticed that, if you scroll further down the page, you'll see that the dealer that is selling that car will finance it.
Powered by Invision Power Board (http://www.invisionboard.com)
© Invision Power Services (http://www.invisionpower.com)