Anyone familiar w/ Frank Carrol in Fla? - Page 2

Cashburn · #1 (**permalink**) 04-29-2009, 07:04 AM

Quote:

Originally Posted by cbreez

You know cashburn, your attempts to ridicule every post I make only makes one of us look like a fool...

Down to one year in business left for you...

I will make you a deal. If we are done by 2010 I will go away. If we are still in business you go away. Fair enough?

CBeetz ... how about some positivity?

I only take bets I will win.

lovehamr · #2 (**permalink**) 04-29-2009, 08:38 AM

Quote:

Originally Posted by LudicrousSpeed

...Issues with the financing.

Its kinda frustrating that I'm finally able to really afford my dream car, and found a GREAT Deal on one, and now the Lenders dont wanna Lend!

The issue is with "Blue-Book" Value. If I were trying to finance a Corvette, It'd be in my garage already. Seems most banks wont touch "Replicars".

I say "Most" though. Its "How bad do ya want it" time...

I gotta say tho that Frank Dodd & the whole Backdraft crew have been Great. Enjoyed meeting Reg & seeing their most excellent cars at Knotts.

...more to follow...

Hey studly; have you tried cap1 financing? http://www.capitalone.com/

Steve

LudicrousSpeed · #3 (**permalink**) 04-29-2009, 11:30 AM

Yup,

My wife & I make over 100k a year & only debt is 2400/mo. house payment.

Denied!

6t8stang · #4 (**permalink**) 04-29-2009, 05:35 AM

I looked into the possibility of getting a loan through my credit union about 6 years ago before I really got serious about shopping - they too said they don't lend for replicas.

2 1/2 years ago I tried again - same credit union - this time I worked with the loan department all the way up to the VP. Luckily he's a car guy too and approved my loan (obviously past loans/credit history played a beneficial part too). I'm not sure if this is the same VP that was in position 6 years ago, but the process was as smooth as a new car loan!

Doug I · #5 (**permalink**) 04-29-2009, 07:15 AM

CB ... pics.

RodKnock · #6 (**permalink**) 04-29-2009, 11:37 AM

Have you tried a HELOC (Home Equity Line of Credit)? It may be slightly easier to obtain right now, depending upon the financial specifics and appraisal. We don't need to go into specifics, but have you tried?

Got the Bug · #7 (**permalink**) 04-29-2009, 11:47 AM

Jay had also mentioned that he had worked with JJ Best in the past. I think that you'd need to come up with a 25% deposit.

http://www.jjbest.com/

Their website must be down.

JJ Best Banc & Co - 1-800-USA-1965

LudicrousSpeed · #8 (**permalink**) 04-29-2009, 12:26 PM

Actually, they've given me the best offer so far. Of course, their APR is, um, yuck, and they do require 30% down.

As of now they are the leading horse in the race....

Will decide in the next day or two, just waiting on my local credit union...

Got the Bug · #9 (**permalink**) 04-29-2009, 12:30 PM

Quote:

Originally Posted by LudicrousSpeed

Actually, they've given me the best offer so far. Of course, their APR is, um, yuck, and they do require 30% down.

As of now they are the leading horse in the race....

Will decide in the next day or two, just waiting on my local credit union...

So did they leave the car in LA or haul it all the way back East again?

lovehamr · #10 (**permalink**) 05-01-2009, 10:25 AM

Studly, don't know what your situation is otherwise but what I did was get a sig. loan aganst my Boss 302 Mustang. Still got 5% on the loan. It also seems like if I'd bought a car already built the fact that it's a replica wouldn't have mattered as long as they had the appraisal to use the car as collateral. Got anything you can leverage?

Steve
P.S. I use USAA

LudicrousSpeed · #11 (**permalink**) 05-01-2009, 11:25 AM

No Bueno.

Told Frank today that he could re-list the car. You'll see it on Ebay soon.

That fact is that finding a funding source for a car that doesnt have a "Blue Book" value is almost impossible. The few lenders that would knew there wasnt much competition, and gouged accordingly.

Through it all, Frank Dodd was extremely understanding and patient, a pleasure to almost do business with.

Guys, if you know anyone who wants a SCREAMIN' deal on a Roush equipped nearly new Backdraft roadster, give Frank a call ASAP.

Sigh...Props to my Beautiful Wife as well. I think she's even more disappointed than I am. She really wanted me to have it.
I Love that woman

yamazee · #12 (**permalink**) 05-09-2009, 12:12 PM

sORRY i HAVE NOT FOLLOWED YHIS POST RECENTLY. looks like you need some good financing for your cobra. I just bought mine a few months back from Frand and by far the best financing option was with a local credit union called Achieva. They made it real easy, open a account with a couple of bucks (less than $20) and become a member, get an appraisal and blammo. they go up to 66 monhts and rate starts at 5% call Judy at 727-431-7593. Tel her Steve from Mortgage Solutions sent you. Good people, easiest loan I ever got, and the terms were way better than JJ Best. Good luck

joe g · #13 (**permalink**) 05-10-2009, 11:14 AM

Why not a second mortage-- tax dedductable and cheap
joeg

Cashburn · #14 (**permalink**) 05-10-2009, 11:32 AM

Change this thread title to "How not to buy a Cobra"

Dinobyte · #15 (**permalink**) 05-11-2009, 09:33 AM

How embarrassing....they tote the car 3K miles out, expect you to buy, then you don't have the financing or cash ready to go? Am I missing something here?

kopride · #16 (**permalink**) 05-11-2009, 10:20 AM

Not to be too harsh. But as a buyer in this market, this kind of experience really turns sellers off and makes someone much less likely to go the extra mile
Having bought and sold many motorcycles on line, this is what you worry about. You meet a potential buyer halfway and you get there and they don't have the cash. I have also visited sellers that didn't have a title after assurances or the bike wasn't anywhere near what was advertised. Sorry for your heartbreak, but the victim in this story was Frank Carroll.

ROUSHAC · #17 (**permalink**) 05-11-2009, 04:52 PM

Quote:

Originally Posted by kopride

Not to be too harsh. But as a buyer in this market, this kind of experience really turns sellers off and makes someone much less likely to go the extra mile
Having bought and sold many motorcycles on line, this is what you worry about. You meet a potential buyer halfway and you get there and they don't have the cash. I have also visited sellers that didn't have a title after assurances or the bike wasn't anywhere near what was advertised. Sorry for your heartbreak, but the victim in this story was Frank Carroll.

Quote:

Originally Posted by Cashburn

Change this thread title to "How not to buy a Cobra"

In the words of Gary Cooper, "Ayup."

LudicrousSpeed · #18 (**permalink**) 05-12-2009, 04:55 PM

Quote:

Originally Posted by Dinobyte

How embarrassing....they tote the car 3K miles out, expect you to buy, then you don't have the financing or cash ready to go? Am I missing something here?

Actually, I informed him of my situation with the lender prior to him shipping the car. Not that it mattered, he was going to show the car or one just like it at the Knotts show anyway.

Just to kind of put an ending on this thread, I took a ride in a friends Cobra a week ago (Beautiful Blue/white Superformance). we zoomed up the 101 & PCH north of Malibu near sunset. Great ride. I had a blast, but I quickly realized that, although I could spend all day in the car, my wife &/or kid really wouldnt have enjoyed the wind buffet or cold.

Ultimately the car is meant for OUR enjoyment, not just mine. Kinda why I gave up the Harley.

For what its worth, Frank is holding on to part of my deposite (about $1,600) until he sells the car. Why, I do not know, as this was never stipulated.
Sigh...

cbreez · #19 (**permalink**) 05-12-2009, 05:18 PM

Good ole Frank! Good Luck on your refund.

You shouldn't be criticized at all. I am sure they were hauling the car out there to show it. Even Cashburn wouldn't ship a car across the country to a prospective customer unless it was paid for first...

Dinobyte · #20 (**permalink**) 05-12-2009, 05:39 PM

Quote:

Originally Posted by LudicrousSpeed

Actually, I informed him of my situation with the lender prior to him shipping the car. Not that it mattered, he was going to show the car or one just like it at the Knotts show anyway.

Just to kind of put an ending on this thread, I took a ride in a friends Cobra a week ago (Beautiful Blue/white Superformance). we zoomed up the 101 & PCH north of Malibu near sunset. Great ride. I had a blast, but I quickly realized that, although I could spend all day in the car, my wife &/or kid really wouldnt have enjoyed the wind buffet or cold.

Ultimately the car is meant for OUR enjoyment, not just mine. Kinda why I gave up the Harley.

For what its worth, Frank is holding on to part of my deposite (about $1,600) until he sells the car. Why, I do not know, as this was never stipulated.
Sigh...

As I said to you once before...a nice M5 seems right for you.

Good luck...we will miss your insight and humor on these boards.