Guest CL_Reatta Posted February 20, 2009 Share Posted February 20, 2009 Ive seen this mentioned before in the Insurance topics, but am a bit confused on how I can obtain the value for a 1988 Reatta in Great condition. My bank is hassling me about it and I want to be able to tell them where to look to see that it is not worth the $1000 that KBB says Link to comment Share on other sites More sharing options...
reattadudes Posted February 20, 2009 Share Posted February 20, 2009 Brian,you can scream and yell till the cows come home, but you'll never convince just about any bank to look beyond what their blinders will allow them to.they are not used to having any requests for financing beyond their narrow scope; i.e. "normal cars". they will only use a Kelley Blue book, or NADA Guide.the CPI Guide is published by Black Book, and is subscription-only. presently, the CPI Guide shows the following for a 1988 Reatta: #4, $1725;, #3,100;, and #2, $5,575. ironically, 1989-1991 Reattas are worth more.you can also check the Old Cars Weekly Annual Value Guide. their values will be about 50% higher than CPI. when we do an aggregate value for an insurance company, we use both guides, plus recent sales, lump them all together, and come up with an average. that average is over $7,000 for a 1988-1990 coupe with 170,000 miles.your best bet would be to pick up a Hemmings Motor News, and look in the "Financing" section. there are quite a few companies that specialize in colletor car financing, and they will take quite a different view than your local bank.another issue is where you live. how many other 1988-anything is still on the road? most vehicles of this age in corrosive climates have boards for bumpers, and are days away from their final trip to the salvage yard. unfortunately, most banks think the same way, no matter how nice your car is.Mikebuickreattaparts.com Link to comment Share on other sites More sharing options...
Guest CL_Reatta Posted February 20, 2009 Share Posted February 20, 2009 Alright thanks, The credit union I am dealing with, I have been a member for as long as I remember, and they were always great, small and knew your name. Then they were "merged" with a larger credit union, and now it is terrible service, I used to be known by my name their, now I am nothing more than my account number. Will probably pick a hemmings and call around in there. Thanks for the info Mike... Remind me that when something breaks to come to you instead of ebay. Link to comment Share on other sites More sharing options...
Ronnie Posted February 20, 2009 Share Posted February 20, 2009 NADA is recognized as the leader in used car pricing.They list the '88 Reatta under "Classic Cars" and the prices they quote seem reasonable to me. Click here to see the prices. Let me know your opinion. Link to comment Share on other sites More sharing options...
Guest CL_Reatta Posted February 20, 2009 Share Posted February 20, 2009 Ya I did notice 2 years ago when I sold my Reatta that I used NADA in the window to show the value as $4500 (what NADA said back then) they're value is a lot batter than the $1500... Thanks for the direct link, apparently 88's are shown higher on NADA than 90's Link to comment Share on other sites More sharing options...
reattadudes Posted February 20, 2009 Share Posted February 20, 2009 Ronnie,this is very good to see; it puts NADA right in line with Old Cars Weekly concerning values...very good, indeed.the one problem is the NADA Guide is not really used west of the Mississippi; Kelley is King, and they just look at the Reatta as another old car. if you ask most dealers out here for an NADA Guide, they'll just look at you.Mikebuickreattaparts.com Link to comment Share on other sites More sharing options...
padgett Posted February 20, 2009 Share Posted February 20, 2009 Interesting, for my 88 they add 5% for the roof vent and deduct 10% for the 6 cyl engine. Link to comment Share on other sites More sharing options...
handmedownreatta Posted February 20, 2009 Share Posted February 20, 2009 i agree.i prefer the v8 reattas too. Link to comment Share on other sites More sharing options...
Guest CL_Reatta Posted February 21, 2009 Share Posted February 21, 2009 ^HAHAH I seriously just cracked up.... I love how on some sites they will give extra's for having a reatta with leather seats as opposed to cloth, or cruise control Link to comment Share on other sites More sharing options...
Guest RWITSIL Posted March 21, 2009 Share Posted March 21, 2009 MikeHow are you doing in getting the convertible top I ordered from buickreatta.com last August? Seems like it is taking a long time since it is now the following March. Link to comment Share on other sites More sharing options...
Guest RWITSIL Posted March 21, 2009 Share Posted March 21, 2009 MikeHow are you doing in getting the convertible top I ordered from buickreatta.com last August? Seems like it is taking a long time since it is now the following March. Link to comment Share on other sites More sharing options...
padgett Posted March 21, 2009 Share Posted March 21, 2009 "NADA is recognized as the leader in used car pricing"also just noticed that to them, my 90 'vert is worth less than the 88 coupe. Link to comment Share on other sites More sharing options...
Guest Greg Ross Posted March 21, 2009 Share Posted March 21, 2009 CL_Reatta,As I recall, you're one of our younger members so, perhaps the age factor is playing against you with your Credit Union.Other assets and loan history are "lending factors". From my recollection, the lender can use/ take other assets to secure the loan along with the vehicle. Or, you need a "Co-Signer" and then the actual value of the security becomes somewhat moot.Just a couple of other options for you, or questions to ask. Link to comment Share on other sites More sharing options...
Guest CL_Reatta Posted March 22, 2009 Share Posted March 22, 2009 Yes, Well, they basically denied using anything for collateral, saying that my age was a factor, even though I had a very good history with the old credit union before it was bought out. The new credit union is not personal at all. My dad applied for a new auto loan there, and was given an outrageous APR.... he went to Chase bank, and got a loan at 2.5% lower than the credit union. Obviously when I find another Reatta I want to purchase, will NOT go to my credit union. Link to comment Share on other sites More sharing options...
padgett Posted March 22, 2009 Share Posted March 22, 2009 I have had very good luck with my credit union. Maybe you just need to find another. Link to comment Share on other sites More sharing options...
Guest halofaller Posted March 22, 2009 Share Posted March 22, 2009 There is zero, nix, zip and then comes nada.Just trying to convince some folks that a Reatta has nothing to do with watercraft can be a chore.One alternative financing method if age is an issue is to find someone willing to put up cash as collateral on a co-signed loan. Give them 5-6% on their money. Figuring the spread on a cash collaterized loan makes it about 7-8% for you but then you get a loan. Let them hold the title on the car as lien holder. You become the first one the bank goes to for the money, they have a secondary position and your car's title. Not default proof but a pretty good deal for them on their money, much more than any bank will give them on interest. Depending on the loan amount, they get to a no lose position pretty quick.Just a thought. It worked for me about 35 years ago although with different interest rates. Link to comment Share on other sites More sharing options...
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