KBB: will CU use private or trade in value?

[luckydriver]

it's about 1200 difference and could be material depending how much money i ask for

 

though at 1.49 would be hard not to take even the smaller amt

 

also would proof a new engine was put in 'today' make the value go up?

Edited July 19, 2012 by luckydriver

[CombatVet1329]

There are a few different possibilities that a lender could use for valuation (loan value)

 

Most common is NADA "clean trade" or "clean retail". If you go to www.nada.com and build the vehicle with options, you will have both the clean trade and clean retail values there.

 

Have some that use Black Book, but only a few. None of the credit unions I do business with use KBB. Which credit union are you a member of?

 

 

[CombatVet1329]

Forgot to add......Having an engine put in a vehicle will not increase the value, unless the engine is considered a premium trim level (ie. the vehicle comes with a 4 cyl. on base models, and the premium model has a V6)

[MarvBear]

also would proof a new engine was put in 'today' make the value go up?

 

nope

[luckydriver]

psecu said they use KBB

 

When you hold the title to your vehicle, free and clear of any encumbrances, you may obtain a loan against the vehicle through PSECU. This is called a Member Owned Vehicle Loan. You can borrow up to the Kelley Blue Book Value of the vehicle. We would need to qualify the vehicle

Edited July 20, 2012 by luckydriver

[MarvBear]

Best of luck.

[luckydriver]

just wondering which they may use because now that i use their link to kbb, not that it's any different i guess...i get over 6000 retail but only 3600 trade in..could really us 4000

[luckydriver]

well called today and they said its worth 4400 so i got the 4K i needed. even after IIB this car with them they still had no problem with a refi.

 

love that 1.49 rate for 3 years. will be paid off in no time. i didnt ask what 'value' they used because long as i got the loan it really doesnt matter but i'm leaning toward trade in based on the 4400.

 

great CU

[MarvBear]

congrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrats!!!!!!!!!!!!!!!!!!!!!!!!!!

[luckydriver]

thanks, i never thought a 17 yr old car could be such a lifesaver

 

i was kind of shocked my jeep with 1/2 the miles was only worth 1/2 as much

[luckydriver]

very strange..i got the check and the stub yesterday and it's valued at over 6200 on the official form.

 

i wonder if i should ammend the amount and get out a few extra grand lol..if they would even do that..hmmm...1.49 is just too tempting to pass up but i dont know if they would do such a thing