Help buyer needs appraisal val on my 85

[ryanws6]

I have a 1985 LX GT with 36k titled miles. Its a very clean car with a brand new 347 and engine bay for show with all scot rod tins, Steeda t-5, all susp, saleen body kit and rims with 10"rears. Car runs like a beast.

Point is, I have a buyer for my car. Unfortunately The kid that wants it is getting a loan for it I assume through the VA. They are asking him for an appraisal for the car. We have an agreed price for 6500 and he said he's approved for it.

From the research I've done, I can't find anything on the net. I'm not sure how this is going to end up. Never gone through this before. Its not an original car.

[TopGear85]

Are you asking if we think the car will appraise for $6500? If that's the question my answer would be "yes," and it may even appraise a little higher. If it was 100% original with only 36K miles I would definitely say that it will appraise higher than $6500, but even with the mods you listed I can't see the car being valued less (than $6500). In your signature it says the car needs paint...how bad is the current paint job? That would be the only thing I would be worried about in regards to the appraisal. Modified cars can still bring good money, sometimes more than original but it depends on the mods. If things were professionally done and it looks like a show car than $6500 really isn't a lot of money and you should be fine (providing the paint isn't terrible).

Is the car a coupe or hatch? I'm confused by the "1985 LX GT" description because it can only be one or the other. Meaning its either an LX or a GT.

I hope everything works out.

[bwguardian]

I would think the lending institution is only worried about a loss...if one should occur. If you currently have collector car insurance, or the potential buyer can get a good faith estimate from a collector car insurance company to show the lender it would probably suffice. Collector car insurance is typically an aggreed amount for the car...the premiums are adjusted accordingly...should a loss occur. This means that you can insure the car for what ever value...within reason...you want and that predetermined amount will be paid should something happen to the car. This is the route I would try to take but of course you could just pay to have an appraisal done. Hope everything works out...you should post some pictures here so people can help you determine what that value might be.