$7000?...Running 1932 Henry Ford Roadster tradition hotrod?

OK. So here's the deal. I went to my banker to borrow $7000 against my 32 roadster and she / he saw the car and didn't think she / he could sell it for that if they had to take it back.....just too high of a risk for her / him even though my appraisal of the car from a very knowledgable hotrod shop was far more.

Keep in mind this is a prewar style build using prewar parts. It's a real henry body with an LB (insert bearing) 21 stud flathead with very early block letter tall 2 duece intake and rebuilt 81's. Mint condition original chassis components. This includes mint frame with all rebuilt chassis components including the original heavy axle, mint wishbone, newly rebuilt and good working original mechanical brakes, 32 steering box with needle bearings, 39 style tranny, and early 32 rearend. It only has a handful of reproduction parts. It has mint codition unrestored (water temp gauges were restored...I have 2 or them since flatties have seperate water temperatures for each side of the block) original 34-35 Buick series 40 dash instrument cluster mounted upside down, 37 banjo with working horn button and light switch, etc. It even runs cool with an original 32 V8 radiator. I drive the car every day i have a chance and it's been on a number of 1000+ mile trips since i got the engine in it in May of 2010. I would have driven it to Austin for the Hotrod Revelution last year but I got caught working in CO and couldn't get time off to go.

So what do you think she / he (the banker) could sell my car for if posted in the right places? Of coarse that means that I, all of my family, and all of my hotrod friends went totally insane, and let this car back to the bank for $7000!

Honest opions please and keep in mind that this might get shown to her / him just for the fun of it to prove a point....be honest. What would it honestly, realistically sell for today in this condition?

Here are some pics and yes my girlfriend and her 80+ year old grandma like to run around in it too!
Thanks, AndyG.

 

Tell the Banker to give me first dibbs,,I am in for $7K !!!!Lol !!!IM not kidding !!!!

 

maybe try cleaning the whitewalls then it will look nicer to the banker :-0

 

Gotta be at least a hundred guys standin' in line with somethin' like $20 BIG! DD

 

Unless you are into cars, that is a rusty pile of old parts. We're not like the rest of the world. I've had people offer me $500 for my chevy. I wouldn't sell it for 10x that.

 

Just let me know what bank and when you default. It'll be our little secret.

Definatly worth more than 7 large, even in a down economy.
If you put it on here, I don't think you'd have a long wait for 15,000, maybe more.

 

Banker..Wanker!

 

The BANKER is not into risk taking ... and the car looks like a risk to them.
We ALL KNOW that the roadster is worth more but to the unknowledgeable ... it is just a JALOPY

There are folks who know old cars who do lend $$$ on vintage rides.

.

 

$40 000 and up...

 

Easily worth three or four times the 7k you wanted to borrow.

 

majority of people have no clue about old cars and what they are worth. if it's not in their little book or on their computer telling them its ok then they are not going to do it. its like going to the parts stores now days they cant help you unless they can punch in a year in their computer!

 

I've got the feeling we are asked to do an appraisal for your bank...

Seems kind of pointless.

 

It must be worth 25 grand or more. Actually I would think quite a bit more than 25G.

 

If it's something that your girlfriend will drive it's priceless

 

25large would be a bargain.

 

I'm in for $8k....

 

Just drop the car off at my place and I'll loan you $7k. The terms of the loan are stiff and I hope that you don't default.

 

An original 32 roadster for 7K? I'm in!! where do I send the money?
Like they said,banks don't care beans about old cars. Anything pre 2005 is a risk.

 

Just send your banker a link to this thread....

 

Hate to say it, but besides how much it may or may not be worth, I would seriously question why you want to borrow against it. Unless yo need to pay for dire medical expenses, family/friend emergency, etc., I would say it is better to try to resolve your financial concerns some other way or just live without. Keep the car paid for and lien free. If you really get in a pinch, just sell it for all you can get in cash and be way better off.

That is my honest advice. If you want to show this thread to your banker and want me to delete this post, just PM me and I will, no problem.

Regardless, the car is obviously worth far more than $7K to a lot of people.

 

didn't one on ebay a few month back bring $80,000 or more and the person bought it off ebay for $1000 a few year ago.thanks

 

I'd give you 7k for it., and I'm sure it is worth much more. But as said before Banks don't like risk. Any how you should never borrow money for your hobby or on your hobby. What ever you need the cash for save it up or borrow aginst the item you want if it is necessary and it is worth it.

 

Id say 40,000 up to 60.000 on value ,Your banker isnt that smart and you should bank elsewhere ,Thank god he's not an investment broker

 

Tell your Banker to shuff it up his -----There a bunch of blood suckers.

 

I'm really digging the car man. Very cool

 

put me down for $9500

 

I'll write you a check and i'm not close to 80

 

I'm sure bankers get all kinds of people trying to pass all kinds of scurvy shit off as 'collateral'. Oh, yeah, I'm sure they've got some kind of documentation too.

Unless your banker is into old cars, she isn't going to know what they're worth. Not everybody keeps up on Barret Jackoff, ya' know. To somebody who isn't into cars, it's an old heap with shitty looking paint and a blanket for upholstery. Wouldn't matter if you had an OG '32 Duesenberg SJ, if the paint wasn't shiny, a bank wouldn't give you seven hundred against it.

Is that car worth $7k? Of course. Multiples of that amount. I'd find the money to buy it for that, and I'm selling shit off to pay my mortgage.

But, I wouldn't expect to be able to take it to the local bank and borrow against it. Even if you came in w/ a 'blue book' and showed that the most fucked up, clapped out heap goes for more than that if it doesn't even run. Hell, the banks get screwed on the land and new car loans that they're supposed to know how to do; why should they go out on a limb for a style of collateral they aren't familiar with?

-Bill

 

Bring your car and title and I've got $10,000 waiting for you. Bring me $11,000 within 18 months and you get the car/title back. I like to keep things simple.

Frank

 

It's a piece of shit to a banker.
They are not going to loan you $7000 on it.
She/he that is clueless.