Fourtitude.com - The Bring A Trailer (BAT) watch thread
Username or Email Address
Do you already have an account?
Forgot your password?
  • Log in or Sign up

    Fourtitude.com


    Page 147 of 150 FirstFirst ... 4797137143144145146147148149150 LastLast
    Results 3,651 to 3,675 of 3746
    1. Member
      Join Date
      Jul 7th, 2016
      Posts
      1,757
      Cars
      ‘77 Ford Bronco ‘85 Toyota 4x4 ‘87 930 ‘07 BMW e91 ‘08 Xterra
      11-08-2019 01:02 PM #3651
      Quote Originally Posted by freedomgli View Post
      Most lenders have a cutoff even if they don't openly advertise it. This is what messes up many buyers who think they're pre-qualified for a loan but don't understand all the stipulations. For many lenders, 10 years old is the limit, and how they calculate the vehicle age can vary (calendar year? model year? build month? etc.). Furthermore, lenders often have LTV limits based on NADA or other book value.
      If you have the credit and proof of income you can finance anything. Usually not through traditional lenders but there are plenty of companies that specialize in lending for hobby cars.

      Quote Originally Posted by masa8888 View Post
      They sort of have that already, with the 5% non-refundable buyer's fee. When I bough my car, the 5% was charged against my credit card at the start of the auction. It's refunded only if you're not the winning buyer. To me that's enough incentive as a buyer to actually go through with the process and not flake out. However, obviously it's not enough for some others. I think the suggestion of a soft credit report pull is a good suggestion, with additional requirements necessary for sub-prime buyers.
      In n0rdicalex.'s case the price delta from the 1st to 2nd place bidder should be provided to him out of that buyer's fee from BaT but I doubt they would do it.

    2. Remove Advertisements

      Advertisements
       

    3. Member n0rdicalex.'s Avatar
      Join Date
      Jun 14th, 2007
      Posts
      15,364
      Cars
      S4, A4, R32
      11-08-2019 01:02 PM #3652
      Quote Originally Posted by Matt View Post
      I realize not everyone has $14+k to throw at a car they're bidding on and that the original high bidder of the A4 Avant probably got caught up in the excitement of it all, but dude didn't have the $ he bid and was going to look for financing on a 10+ year old car after the auction ended? Seems typical of a lot of people in the world today . Can't see the end of the path they're on, but sure are running along at full speed.

      I don't think a lot of traditional banks or credit unions are going to give out a $15k loan on a 10 year old car are they?
      that surprised me - unless it's a personal loan I don't see any bank or credit union giving that much on an 11 year old car. ever. I tried it with an E36 M3/4/5 right out of college and they were reluctant to give me what I wanted, but did offer a close amount.
      welcome to the layer cake

    4. Don't be me. Don't be a 'Rick' Cabin Pics's Avatar
      Join Date
      Mar 20th, 2008
      Location
      In The Woods
      Posts
      12,162
      Cars
      2004 E46, 2019 Q7
      11-08-2019 01:03 PM #3653
      Quote Originally Posted by Pizza Cat!!!! View Post
      There should at least be some sort of minimum percentage that the winning bidder is locked into paying, should they then decide to become a flake.

      I don't know how that would be enforceable
      That's the problem.

      Even with the card on file for deposit, if you're a sh*t head with no money, at the end of the day you're a sh*t head with no money. When you place a bid they place a "hold" on the card you've got. Now if you're a piece of sh*t with no money, and your bid wins. Let's say you try to secure funding for 100% of the car you can't afford in the first place, and the bank says no. Yes, they can still try and make you pay the deposit, but that would be easy to get out of, including buyer's fees. Really the only ground they have to stand on is banning you from the site indefinitely. Which to a scumbag, is not a big deal.
      Instagram - efrie004

    5. Member
      Join Date
      Jul 7th, 2016
      Posts
      1,757
      Cars
      ‘77 Ford Bronco ‘85 Toyota 4x4 ‘87 930 ‘07 BMW e91 ‘08 Xterra
      11-08-2019 01:07 PM #3654
      Quote Originally Posted by Cabin Pics View Post
      That's the problem.

      Even with the card on file for deposit, if you're a sh*t head with no money, at the end of the day you're a sh*t head with no money. When you place a bid they place a "hold" on the card you've got. Now if you're a piece of sh*t with no money, and your bid wins. Let's say you try to secure funding for 100% of the car you can't afford in the first place, and the bank says no. Yes, they can still try and make you pay the deposit, but that would be easy to get out of, including buyer's fees. Really the only ground they have to stand on is banning you from the site indefinitely. Which to a scumbag, is not a big deal.
      What we need is a BaT scumbag bidder hit squad. They could dress in Fatlace gear and ride around on Groms so people know they aren't to be messed with.

    6. Member simple's Avatar
      Join Date
      Mar 29th, 2001
      Location
      Golden, CO
      Posts
      4,218
      Cars
      Q5 TDi, Sportsmobile Van, Mazda CX-5
      11-08-2019 01:09 PM #3655
      Make fun of the TFL mentality all you want but there are several examples on these recent pages that people with passion interests such as cars have a real poor concept of proper financial stability.
      If you can't measure it, you can't understand it; if you can't understand it, you can't control it.

      As said on BAT "We’ll burn this guy to high hell for lowering his car but we will bid 6 figures on safari builds. Come on son" - 2mAn

    7. Member freedomgli's Avatar
      Join Date
      Mar 26th, 2002
      Location
      USA
      Posts
      11,807
      11-08-2019 01:11 PM #3656
      Quote Originally Posted by Sonderwunsch View Post
      If you have the credit and proof of income you can finance anything. Usually not through traditional lenders but there are plenty of companies that specialize in lending for hobby cars.
      Lending and leasing for high-end collector cars is pretty routine these days. But it seems like most lenders aren't too keen on "youngtimer" future classic cars (aka BaT's bread and butter). Most banks still just see them as old, risky, depreciating assets. So short of a high-interest personal loan secured with collateral, I don't see many financial product offerings for this niche area. Can you name some lenders that you can recommend?

    8. Member
      Join Date
      Jul 7th, 2016
      Posts
      1,757
      Cars
      ‘77 Ford Bronco ‘85 Toyota 4x4 ‘87 930 ‘07 BMW e91 ‘08 Xterra
      11-08-2019 01:16 PM #3657
      Quote Originally Posted by freedomgli View Post
      Lending and leasing for high-end collector cars is pretty routine these days. But it seems like most lenders aren't too keen on "youngtimer" future classic cars (aka BaT's bread and butter). Most banks still just see them as old, risky, depreciating assets. So short of a high-interest personal loan secured with collateral, I don't see many financial product offerings for this niche area. Can you name some lenders that you can recommend?
      Lightstream
      JJ Best
      Woodside Credit

      I used Lightstream for a 1991 M5 and on my current 2007 BMW E91. I had a loan lined up on a 993 with Woodside but the dealer flaked on me.

    9. Geriatric Member absoluteczech's Avatar
      Join Date
      Sep 12th, 2006
      Location
      The Orange Crush
      Posts
      40,263
      Cars
      '18 Mazda CX-5
      11-08-2019 01:38 PM #3658
      penfed is supposedly great

    10. 11-08-2019 01:38 PM #3659
      My normal credit union approved me for a loan on a 91 NSX about 10 years ago. I stupidly passed and got a 996 instead.
      _________________________________________________
      current: '18 Giulia Ti Sport, '19 HRV Sport, '09 Fit Sport
      ig:wiscocrashtest

    11. Geriatric Member absoluteczech's Avatar
      Join Date
      Sep 12th, 2006
      Location
      The Orange Crush
      Posts
      40,263
      Cars
      '18 Mazda CX-5
      11-08-2019 01:42 PM #3660
      Quote Originally Posted by Cr4shT3st View Post
      My normal credit union approved me for a loan on a 91 NSX about 10 years ago. I stupidly passed and got a 996 instead.

    12. Member
      Join Date
      Jul 7th, 2016
      Posts
      1,757
      Cars
      ‘77 Ford Bronco ‘85 Toyota 4x4 ‘87 930 ‘07 BMW e91 ‘08 Xterra
      11-08-2019 01:42 PM #3661
      Quote Originally Posted by Cr4shT3st View Post
      My normal credit union approved me for a loan on a 91 NSX about 10 years ago. I stupidly passed and got a 996 instead.

    13. Moderator aar0n.'s Avatar
      Join Date
      May 7th, 2004
      Location
      PNW
      Posts
      12,631
      Cars
      MK4 R32, 987.1 Cayman S
      11-08-2019 02:52 PM #3662
      Quote Originally Posted by absoluteczech View Post
      penfed is supposedly great
      PenFed is awesome. They approved a loan for my 11 year old 987.1 immediately earlier this year and at a very reasonable APR for a 60 month term. Lots of friends have used them to finance 10+ year old cars and zero issues at all
      The Car Lounge summed up

      Quote Originally Posted by Fined View Post
      lots of people who post on this forum are not car OR driving enthusiasts. they just come here and post tirades/smarmy comebacks


      Flickr™
      DubCult.

    14. Member IdontOwnAVW's Avatar
      Join Date
      Jun 17th, 2004
      Location
      Wilmington DE
      Posts
      6,890
      Cars
      Rabbit TDI, MK4 2.0, 04 GTO
      11-08-2019 03:58 PM #3663
      Quote Originally Posted by aar0n. View Post
      PenFed is awesome. They approved a loan for my 11 year old 987.1 immediately earlier this year and at a very reasonable APR for a 60 month term. Lots of friends have used them to finance 10+ year old cars and zero issues at all
      I use PenFed as well, I've also used DCU in the past for two cars so. Not sure I like the APRs creeping up as time goes on, though.
      IG: @geeofff
      MK1 TDI Swap

    15. Feels Like the First Time DeeJoker's Avatar
      Join Date
      May 5th, 2001
      Location
      People's Republic of Marylandstan
      Posts
      6,732
      Cars
      2013 C300 4M, 2004 TRD Tacoma
      11-08-2019 06:50 PM #3664
      Quote Originally Posted by mrothwell View Post
      I’ve not owned a BMW v12, so take this with a grain of salt, but I’ve heard that it’s actually more reliable than the V8 because it’s basically just two M20s joined together. Supposedly they share a lot of parts, accessories are interchangeable, etc.
      Sort of. The M20 is the basis for the m70 in so much as the M70 is two straight sixes. Outside of that I'm not sure much of the parts swaps across but I could be wrong there. I have never owned an M70 powered anything- my mechanic talked my father out of an e32 750i in 1989. He has said on more than a few occasions that if I buy one he'll shoot me.

      Far as reliability versus the v8, he has said the v8 is the far superior motor from all aspects- maintenance, reliability, economy. I think there's also the issue with the early models using Nikasil.

      I think the big reason the V12s get such a bad rap is because the maintenance is so damned expensive, and was from new. I think a lot of buyers don't account for the BMW tax on maintenance. Sure, you can afford to buy it, but can you afford to keep it running?


      I’d imagine that fuel mileage would be abysmal though. In high school (2000-2004), there were these twin brothers that shared an early 90s 750iL and I remember them bitching about gas all the time even though fuel was only $0.90/gallon.
      Ooof. That engine needed premium. Poor e32.
      The above post may contain opinions, coarse language, offensive terms, spelling mistakes, and/or improper grammar. You have been warned.

    16. Member roman16v's Avatar
      Join Date
      Jan 18th, 2001
      Location
      Cypress, TX
      Posts
      1,867
      Cars
      Explorer PI, LS430, GX460
      11-09-2019 05:15 PM #3665
      Quote Originally Posted by Sonderwunsch View Post
      Lightstream
      JJ Best
      Woodside Credit

      I used Lightstream for a 1991 M5 and on my current 2007 BMW E91. I had a loan lined up on a 993 with Woodside but the dealer flaked on me.
      Lightstream is for people with great credit. I used them for a loan awhile back and it was so easy... had the money in my account the next day. Highly recommend them.

    17. Member
      Join Date
      Nov 8th, 2002
      Location
      Whitefish, MT
      Posts
      11,132
      Cars
      17 JKU 08 Tundra 91 318iC 89 325i 80 D150 SWB 76 Rabbit
      11-09-2019 07:47 PM #3666
      Quote Originally Posted by roman16v View Post
      Lightstream is for people with great credit. I used them for a loan awhile back and it was so easy... had the money in my account the next day. Highly recommend them.

      Your humblebrag game is strong.

    18. Moderator Harv's Avatar
      Join Date
      Oct 31st, 2004
      Location
      PA
      Posts
      19,453
      Cars
      W116 - W123 - AMG - Land Rovers
      11-09-2019 08:15 PM #3667
      Doug DeMuro sings the praises of PenFed. I believe he finances all his cars through them, including the Ford GT.

    19. Member westopher's Avatar
      Join Date
      Mar 17th, 2013
      Location
      North Vancouver
      Posts
      1,502
      Cars
      98 M3, 2000 323it
      11-10-2019 11:37 AM #3668
      More drama at BAT.
      Deadbeat seller won't honour auction price and demands 5k more to complete the sale from high bidder.
      https://bringatrailer.com/listing/20...gra-type-r-29/
      98 m3, Technoviolet/anthrazit cloth, 106k and officially worthless.
      2000 323i touring, Titanium silver/grey, 160k and officially boring

    20. 11-10-2019 12:44 PM #3669
      Quote Originally Posted by westopher View Post
      More drama at BAT.
      Deadbeat seller won't honour auction price and demands 5k more to complete the sale from high bidder.
      https://bringatrailer.com/listing/20...gra-type-r-29/
      As one commentator astutely indicated, the whole auction was a dumpster fire.

    21. 11-10-2019 12:50 PM #3670
      Quote Originally Posted by thegave View Post
      As one commentator astutely indicated, the whole auction was a dumpster fire.
      I read some of that. Crazy.

      I still haven’t been paid for my car yet. Definitely losing hope that a deal will be made

    22. Member n0rdicalex.'s Avatar
      Join Date
      Jun 14th, 2007
      Posts
      15,364
      Cars
      S4, A4, R32
      11-10-2019 07:15 PM #3671
      my Bring a Trailer sale is done. the new owner picked up the car on Saturday. I did a quick touchless wash Friday night and spent the evening doing minor cleaning and organizing for the new owner. he seemed like a great Audi enthusiast so I'm happy it's in good hands and I did request first rights of refusal if he ever sells. coincidentally, the car went from Columbus Indiana to Columbus Ohio, so keep an eye out for the car if you're in that area.

      edit:

      would I use BaT again? as of now... no, I don't think so. it was a good experience and I'm glad the car sold for the price it did, but I wasn't thrilled with their slow pace from time of submission, to going live, and dealing with the winning bidder that couldn't pay. perhaps it's different for high dollar cars or premium auctions, but I think they need to work on some things before I'd sell another car through them.

      now, what bad decisions can I make for my S4...

      Quote Originally Posted by roman16v View Post
      Lightstream is for people with great credit. I used them for a loan awhile back and it was so easy... had the money in my account the next day. Highly recommend them.
      I submitted my loan application for my S4 at 7:42am and was approved at 7:43am. it's the fist time I've used them, but I've been very happy with the service and rates, so will certainly use them again.
      Last edited by n0rdicalex.; 11-10-2019 at 07:19 PM.
      welcome to the layer cake

    23. Member
      Join Date
      Feb 3rd, 2006
      Location
      North Las Vegas
      Posts
      3,118
      Cars
      2017 Chevrolet SS 6M
      11-11-2019 03:14 AM #3672
      Quote Originally Posted by Broduski View Post
      TCL would suggest a Bi-Turbo to a single mother of 4 just for sh*t's and giggles.
      Quote Originally Posted by Sold Over Sticker View Post
      Here we can all drive like Colin McRae in his prime, earn $25k a month and bang super models. We can also text and drive.
      Quote Originally Posted by BRealistic View Post
      You only live once, and you can file for Chapter 7 Bankruptcy every 8 years.

    24. Don't be me. Don't be a 'Rick' Cabin Pics's Avatar
      Join Date
      Mar 20th, 2008
      Location
      In The Woods
      Posts
      12,162
      Cars
      2004 E46, 2019 Q7
      11-11-2019 03:24 AM #3673
      I wish there were more classic Mercedes with manuals, they’re really hard to find.

      That’s a very pretty car.
      Instagram - efrie004

    25. Member
      Join Date
      Dec 3rd, 2011
      Posts
      2,841
      Cars
      The NATO garage: 3 British, 2 German, 2 American.
      11-11-2019 11:46 AM #3674
      Quote Originally Posted by Cabin Pics View Post
      That's the problem.

      Even with the card on file for deposit, if you're a sh*t head with no money, at the end of the day you're a sh*t head with no money. When you place a bid they place a "hold" on the card you've got. Now if you're a piece of sh*t with no money, and your bid wins. Let's say you try to secure funding for 100% of the car you can't afford in the first place, and the bank says no. Yes, they can still try and make you pay the deposit, but that would be easy to get out of, including buyer's fees. Really the only ground they have to stand on is banning you from the site indefinitely. Which to a scumbag, is not a big deal.
      Not quite true... As you said, BaT pre-authorizes your card before they accept your bid. Contractually, per their terms, you are obligated to pay that fee IF you are the winning bidder, REGARDLESS of what happens after that (even if you don't buy the car... read the fine print!). So if you are piece of sh*t and get no bank money, the credit card has already been charged and the buyer has NO grounds to ask for the charge to be rescinded. It's already done, so it isn't easy to get out of.

      So, what BaT could do is to charge even more, like 8%. If the deal goes through, 3% goes to the seller and 5% stays with BaT, and the buyer coughs up the remaining 97% direct to seller. If the deal does NOT go through, BaT splits the fee 4%/4% between they and the seller (basically sending teh seller 1% more o top of the 3% they sent immediately on auction close). That way, BaT takes a small hit (1%) for the failure, and the seller gets 4% for their trouble (Alex would have gotten $520 in this scenario, on his $13,000 car). the buyer is on the hook for 8% if he/she fails to go through, so it is an even larger incentive to get things done. This Alex deals would have cost the buyer $1,040 at 8% instead of $650 at 5%. Would that make him "find a way" to finalize the deal? Maybe not, but at least Alex would be better off and BaT would take a small hit.

    26. Member westopher's Avatar
      Join Date
      Mar 17th, 2013
      Location
      North Vancouver
      Posts
      1,502
      Cars
      98 M3, 2000 323it
      11-11-2019 12:24 PM #3675
      Thats a very simple and excellent solution to a pretty straight forward problem. They should have done that long ago with the issues they have been having with the growth.
      I think thats the biggest issue here. We all know the solution, and BAT does too. It seems that since when something like that goes unchecked, whether it's the truth or not, that they just don't give a **** about the satisfaction of those involved in the sites business, and it's a BAD look.
      98 m3, Technoviolet/anthrazit cloth, 106k and officially worthless.
      2000 323i touring, Titanium silver/grey, 160k and officially boring

    Page 147 of 150 FirstFirst ... 4797137143144145146147148149150 LastLast

    Posting Permissions

    • You may not post new threads
    • You may not post replies
    • You may not post attachments
    • You may not edit your posts
    •