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-   -   Prospective Owner... The Second Time Around (http://www.clubcobra.com/forums/club-cobra-introduction-forum-introduce-yourself/138354-prospective-owner-second-time-around.html)

patrickt 04-24-2017 03:53 PM

Quote:

Originally Posted by rodneym (Post 1420596)
I'll loan the kid money.
I'll be the first on a hard money loan.
Rate TBD.
**)

OK, but none of that kneecap smashing stuff like last time....%/

loxx 04-24-2017 04:49 PM

Thank you once again for your insightful responses, guys.

John (1SwtRide), I haven't written backdraft off completely. The number one reason being my father lives within 35 minutes of Boynton Beach... Not far from Backdraft US Headquarters. I look forward to taking a look at your thread. Attention to detail is the kind of thing that I really like as an engineer by education and at heart.

On financing, woodside will do a 6% fixed rate loan for up to 12 years. Not amazing but not terrible either.

No need for a hard money loan, Rodney! As I said, if I really squeezed every drop of somewhat liquid assets and sold off a few cars from my collection, I could probably come up with the entire 150-160 for a kirkham. I just don't think it would be prudent to do so. I'd never take on liability more than I can scrounge together in cash if needed.

RodKnock, that's definitely the most responsible way to do it. It's all about finding the right one. It seems Cobra country is a great place to do that. Just need to get two cars sold to keep the ole' lady believing I'm still sane. :)

Am I a little impatient? Maybe, but it's for good reason. I can wait a year though, whether that's for a new era or to find something used. It gives me time to get other projects finished and get finances lined up.

Mark IV 04-24-2017 04:52 PM

Quote:

Originally Posted by RodKnock (Post 1420594)
I just think the whole process of selling a car with a specialized loan would be off-putting for any potential buyer.

"Ya, sure, you pay off my loan and the title will be in the mail to you in a few weeks from Podunk, USA."

"That's not how this works, that's not how any of this works"

rodneym 04-24-2017 04:55 PM

Quote:

Originally Posted by patrickt (Post 1420598)
OK, but none of that kneecap smashing stuff like last time....%/

My associate, Vinny Patela, takes exception to that.

patrickt 04-24-2017 05:31 PM

Quote:

Originally Posted by rodneym (Post 1420603)
My associate, Vinny Patela, takes exception to that.

Maybe you could loan RodKnock enough dough for him to buy a Loving Cup next to his name too.:LOL:

RodKnock 04-24-2017 05:41 PM

Quote:

Originally Posted by Mark IV (Post 1420602)
"That's not how this works, that's not how any of this works"

Well, thank you for your well-thought out rebuttal (or alternative facts) without any sort of evidence to support it. Typical Muck.

I have actually purchased a car or two from private citizens and that's how the deals work(ed) or were going to work. Bank holds title. Seller has car. Loan is paid off by buyer/seller. Bank has to send title to Buyer, all the while, cash has been withdrawn from buyer's bank. Seller's bank hopefully sends title to new owner. There's a lot of trust in the process. **)

RodKnock 04-24-2017 05:48 PM

Quote:

Originally Posted by patrickt (Post 1420606)
Maybe you could loan RodKnock enough dough for him to buy a Loving Cup next to his name too.:LOL:

Once upon a time I did donate.

But now I'd rather give whatever money is leftover at the end of month, that's earmarked for donation, to an actual charity that helps people who really need it.

And even if I were to donate to this site, CC would probably be offline when I did do it. Or, if CC were online, then I click on the donate button and it would probably send me to one of Patrick's favorite porn sites. :JEKYLHYDE

patrickt 04-24-2017 05:51 PM

Remember, charity begins at home.:p

loxx 04-24-2017 10:58 PM

I've now spoken with two ERA owners who offered their fully ERA built cars to me in a configuration I find very desirable. I think cash for a used car could be more of an option than I thought. This is thanks to the ERA appreciation group on Facebook.

Tim7139 04-25-2017 09:38 AM

Quote:

Originally Posted by RodKnock (Post 1420609)
Well, thank you for your well-thought out rebuttal (or alternative facts) without any sort of evidence to support it. Typical Muck.

I have actually purchased a car or two from private citizens and that's how the deals work(ed) or were going to work. Bank holds title. Seller has car. Loan is paid off by buyer/seller. Bank has to send title to Buyer, all the while, cash has been withdrawn from buyer's bank. Seller's bank hopefully sends title to new owner. There's a lot of trust in the process. **)

No there isn't...it is the way the law works, and typically the exact same as a new car from a dealer. In point of fact, in most states, you do, in fact get your title with a listed lien holder.

1ntCobra 04-25-2017 10:35 AM

Quote:

Originally Posted by loxx (Post 1420640)
I've now spoken with two ERA owners who offered their fully ERA built cars to me in a configuration I find very desirable. I think cash for a used car could be more of an option than I thought. This is thanks to the ERA appreciation group on Facebook.

A used Kirkham might be nice too. Recently one was sold on eBay for around $110k that looked like a real bargain.

1ntCobra 04-25-2017 10:42 AM

I found the post about the Kirkham on eBay.

http://www.clubcobra.com/forums/all-...0-md-sale.html


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