In the latest unexpected twist towards buying my GT3, I had an entertaining phone call today with my CU about assessing the value of the car. I gave them the VIN number, it didn't come up correctly (despite no one else having any problems with it for insurance, CarFax, etc.) and then we tried to construct it manually on NADA.com.

Go figure! The GT3 and RS models are listed correctly for 2007 and 2008, omitted for 2010 and 2011, and then listed again for 2012. So, if you're trying to buy any year except 2010 and 2011 you're OK, but go fish otherwise.

I've contacted NADA.com (long shot) to inquire about adding these cars, but my only official way out now is to order a professional vehicle appraisal for the car and have the report sent to my lender. Has anyone else dealt with this craziness?

Maybe I'm just lucky? LOL!

 

If they want market data, there's Manheim for wholesale and KBB for for retail and trade in. Haven't used nada before.

 

Unfortunately for me, since they are a lending institution they are not flexible about the source of the vehicle appraisal since it comes from their written lending guidelines. Meaning, this is the only source they use (other than a vehicle appraisal). I did check and found several other online sources for GT3 and RS models for 2010 and 2011, but it won't help my specific situation.

I have already submitted a case with NADA.com and they will supposedly get back to me within 24 hours. They have a general tag-line about if a car is too rare that they may not document it, but the fact that they do cover 2007, 2008, and 2012 model years of GT3 and RS models kind of proves that the car is worth covering from my point of view.

I asked my loan officer if this has ever happened before on any vehicle loan that they knew about or were affiliated with and their answer was "not to my knowledge". Setting up a vehicle appraisal isn't a huge deal, since it's something I've done before in the past and I am familiar with the process, but just feels like a complete waste of my money since NADA.com didn't do their job correctly when covering all the Porsche models for the 2010 and 2011 model years.

Anyway, wanted others to be familiar with this, just in case it happens to someone else one day.

 

Had the same issue with my CU and insurance company. Not just on my RS, but on my trailer as well! In all cases, I was able to smooth things over and get the right value. I suggest you find another lender.

 

I thought about this a bit more last night, and there may be another benefit to going through and getting the appraisal. In discussions with my insurance company (for specialty vehicles), they would offer me stated value coverage up to a certain amount for the new car by default, but could go higher with a vehicle appraisal. So, the appraisal could actually be beneficial on 2 fronts.

 

Seems a legit loan officer would have access to manheim and could easily do a search of for sales to appraise the value.

Strange.... But I noticed same deal with nada.

 

Well, the legit loan officer in this case doesn't have discretion to go outside NADA, even though I quickly pointed out that the car exists by allowing her to verify it by other means. Oh well. I do like to bank with my credit union as it's generally quite a pleasant experience. This is just silly and unexpected, but I generally blame NADA for this oversight...although that does me no good right now.

I setup an appraisal today. This is only a mere speed bump.

 

As you know (or will) you have to be xtra careful with those speed bumps and steeper driveways (esp in Bellevue). Congrats.