Market Value/Blue Book Value for Older Airstreams /Applying for loan

treadsowell · 07-17-2003, 03:18 PM

I have a potential buyer for my 1971 Overlander 27'. He talked to a bank about a loan, but the bank wants a reliable source for the value of the trailer. Blue Book RV doesn't go back that far. Has anyone gotten a loan for an older trailer? What did you use for value? (I guess this guy can't do a home equity loan?)

I priced the trailer by looking at everything I could find that was for sale on the internet!

1985air345 · 07-17-2003, 03:36 PM

My hunch is either a home equity loan or a signiture line of credit (~$10,00000 max). I think the value of the AS will not be a factor for his loan. Of course the 'value' is determined by the agreement between the buyer and seller. It is impossible to get standard financing for RV's over 15 years old.

85MH325 · 07-17-2003, 05:30 PM

You can supply your buyer with all of the info that you used to price the trailer; comps with photos might work, particularly if he knows and has a solid relationship with his banker.

There are other, non-conventional sources of cash out there too right now. With interest rates as low as they are, there are oodles of folks who would like to make 6-7% percent on the money that they have in a CD or money market account that is currently paying 1.5-2%, particularly if your buyer is creditworthy and you're talking less than $10k.

Roger