Post by
96SoftTop »
https://forums.nicoclub.com/96softtop-u61611.html
Mon Apr 23, 2007 5:12 am
It always hurts to find out that a car is not worth what we think that it is worth. I have to agree with evildky that mods are basically a liability unless you can find a buyer that wants those specific modifications. I would suggest that you have the car appraised though. You probably did this for insurance sake anyway (I hope). With an appraisal, the prospective buyer has documentation to present to his lending agent.
Unfortunately, without that documentation, lenders tend to use the Kelly Blue Book value. When I selected every possible (?) combination of options, Kelly told me that your car was worth $8,970 if offered by a private seller. Again, this is what a bank is likely to value the car at, and what they might be willing to place a lien against. So, again, that appraisal could make a huge difference.
Most people that I know who have sold their modified cars tend to remove those modifications and sell the parts separately. Otherwise, they have simply lost that money. With the exception of rare automobiles, or Barrett-Jackson type cars, modifications are never an investment. With the possible exception of finding someone with the cash available, it is difficult to sell a car for nearly twice the KBB value.
Ken