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2394 messages, Last post on Nov 03, 2009 at 11:03 AM

You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester

What is this discussion about? Car Buying, Car Selling

Outline

Messages Page 5 of 240: 1; 2; 3; 4; 5; 6; 7; 8; ...; 240; Prev; Next; Last

#41 of 2394 Re: okay you guys, chew on this one [isellhondas] by Mr_Shiftright HOST Sep 29, 2008 (12:49 pm)
Replying to: isellhondas (Sep 29, 2008 11:56 am) I checked in with you guys to see if I was reading it all straight. It sounded very foolish to me but of course I don't want to depress the poor people. But I didn't see any hope. I can't imagine what that new car loan would look like. Seems like it would be brutal.
#42 of 2394 by fandiguy Sep 29, 2008 (12:49 pm)
About 6 months ago if they're credit was over 700, a bank would buy this deal. If his credit is in the mid 6's and hers is even worse, there's no way a bank will approve this loan. Banks are really tightening up now with advances, especially with mid-low level credit applicants. My advice, if they have gap....set them BOTH on fire! Juuuuuust kidding! The Dow just dropped over 700 pts, things are gonna be hell in the lending world for a bit. Replies to this message: boomchek (Sep 29, 2008 1:24 pm)
#43 of 2394 Re: [fandiguy] by boomchek Sep 29, 2008 (1:24 pm)
Replying to: fandiguy (Sep 29, 2008 12:49 pm) I noticed that our lenders are more stringent nowadays both on prime and sub prime deals. Everyone is looking to minimize their losses.
#44 of 2394 They were idiots by isellhondas Sep 29, 2008 (2:09 pm)
For making a lot of those loans in the first place!
#45 of 2394 Re: Black Book [stickyman] by dtownfb Sep 29, 2008 (6:07 pm)
Replying to: stickyman (Sep 29, 2008 10:30 am) One of the experts will give you an answer regarding the Black Book. You may want to visit the "Real World Trade-In Values" to get a true trade-in value. Provide the information at the bottom of the page. http://townhall-talk.edmunds.com/WebX/.ee9c851/36257
#46 of 2394 Re: Black Book [stickyman] by ghauto Sep 29, 2008 (6:11 pm)
Replying to: stickyman (Sep 29, 2008 10:30 am) Black Book is a guide dealers use to purchase vehicles at auction. It’s a local, up to date average of what vehicles have been selling at auctions for. It’s not a way to rip someone off but a dependable way at confirming the market. If the dealer can get the same vehicle at auction for $1,500 less than they have to justify why he would purchase it for and extra $1,500 on the street. ghautogroup Replies to this message: Mr_Shiftright (Sep 29, 2008 7:00 pm) isellhondas (Sep 30, 2008 4:44 am)
#47 of 2394 Re: Black Book [ghauto] by Mr_Shiftright HOST Sep 29, 2008 (7:00 pm)
Replying to: ghauto (Sep 29, 2008 6:11 pm) They use the black book to buy from you and the blue book to sell to you Replies to this message: isellhondas (Sep 30, 2008 4:44 am)
#48 of 2394 Re: Black Book [Mr_Shiftright] by isellhondas Sep 30, 2008 (4:44 am)
Replying to: Mr_Shiftright (Sep 29, 2008 7:00 pm) I've never seen a black book. They use these back east I guess.
#49 of 2394 Re: Black Book [stickyman] by volvomax Sep 30, 2008 (7:20 am)
Replying to: stickyman (Sep 29, 2008 10:30 am) Difference between Black Book and Edmunds is that Black Book uses auction values and Edmunds is for lack of a better term fictitious most of the time. Black Book is mostly used back east, but it is becoming more prevalent in the west. In fact, I heard that some lenders will want to tie loans to Black Book value instead of Kelly or NADA. Replies to this message: fandiguy (Sep 30, 2008 9:05 am) boomchek (Sep 30, 2008 9:32 am) oldfarmer50 (Sep 30, 2008 9:49 am) fandiguy (Sep 30, 2008 10:07 am) volvomax (Sep 30, 2008 10:27 am) isellhondas (Sep 30, 2008 10:38 am) and 3 more... joel0622 (Oct 25, 2008 10:13 am) tallman1 (Oct 25, 2008 10:23 am) and 3 more... madmanmoo (Oct 25, 2008 10:38 am) explorerx4 (Oct 25, 2008 5:00 pm) and 1 more... Mr_Shiftright (Oct 26, 2008 10:57 am) and 1 more... oldfarmer50 (Oct 27, 2008 8:33 am) and 2 more...
#50 of 2394 Re: Black Book [volvomax] by fandiguy Sep 30, 2008 (9:05 am)
Replying to: volvomax (Sep 30, 2008 7:20 am) In fact, I heard that some lenders will want to tie loans to Black Book value instead of Kelly or NADA You're exactly right, a few lenders have switched to using Black Book only. They say its the most accurate way of determining value because its updated a lot more frequently and uses "real world" values per region. Replies to this message: boomchek (Sep 30, 2008 9:32 am)

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