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FINANCING out of state

FM Former Member
Has any body tried to get financing, out of state, during the current economic climate? I have sold my Speedster replica. But my buyer who is located out of state cannot get financing. I think the issue is that because I live in a "podunk" area, there is no ligit company that can provide an inspection and evaluation. This is a problem because it is a replica and there is no "blue Book" value that the loan company can value the loan against. Any body have a suggestion? Thanks!
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FM Former Member
Has any body tried to get financing, out of state, during the current economic climate? I have sold my Speedster replica. But my buyer who is located out of state cannot get financing. I think the issue is that because I live in a "podunk" area, there is no ligit company that can provide an inspection and evaluation. This is a problem because it is a replica and there is no "blue Book" value that the loan company can value the loan against. Any body have a suggestion? Thanks!
Jim KellyJim Kelly2013 SAS coupe-Fiji
Since you want the sale to go through, you may need to become pro-active. Determnine the real reason why an out-of-state asset is not usable. Is the difficulty with the investment, i.e, the vehicle, or the borrower? If it merely involves driving the vehicle to an inspection site, do so. Alternatively, suggest to buyer that he identify and use alternative equity or collateral. If the above options are unsuccessful, you may need to find a different buyer.
FM Former Member
Not to put too fine a point on it J. M., but I used to live in the small farm town of Trumansburg, New York. About five miles down the road was Podunk, New York, with an honest-to-gosh state signpost defining that location. For the record, it was a tee intersection with three houses.
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