Purchase advice - Used
I'll be brief. We were on the verge of buying new but stumbled onto a local 2007 Bounder. We gave it the once over and were satisfied that deficiencies were cosmetic.
Knowing the difficulty of getting private party sale loans, before making an offer, I contacted the bank to get pre approved for a full purchase price loan. The loan was approved today. Now I will give my best and final offer to the owner knowing what I can finance.
Q1: the bank will require the coach pass an inspection. I was planning on getting my own inspection also, but is this necessary if the bank orders an inspection?
Q2: I wanted to finance some add'l money (say $5000) to pay for some repairs, new tires, taxes. Since the purchase price will be $15,000 or so less than NADA low retail, will the bank go for this?
If you've been down this path, please lend some advice. Thanks.
Knowing the difficulty of getting private party sale loans, before making an offer, I contacted the bank to get pre approved for a full purchase price loan. The loan was approved today. Now I will give my best and final offer to the owner knowing what I can finance.
Q1: the bank will require the coach pass an inspection. I was planning on getting my own inspection also, but is this necessary if the bank orders an inspection?
Q2: I wanted to finance some add'l money (say $5000) to pay for some repairs, new tires, taxes. Since the purchase price will be $15,000 or so less than NADA low retail, will the bank go for this?
If you've been down this path, please lend some advice. Thanks.
