Need Help! Financing My TTA!

[pdaj]

Wow, what a complicated mess!

I'll do my best to summarize:

1) I ran into a dealership willing to sell me an '89 Pontiac Turbo Trans AM. The stats? Excellent exterier condition. Above average interior. Under 25,000 original miles. And it runs tremendously.

2) The price? $10,900. Yes, you're reading that correctly. Amazingly enough, the car was listed for 18k a few weeks earlier (and a while before), and now the owner is looking to simply get it off his hands.

3) My credit union is willing to provide me with a car loan (my credit is excellent) over a span of 4 years.

4) The problem? Their "blue book" lists the car at merely 5,000 or so dollars. In other words, the bank doesn't have a special addition -- otherwise they'd know the car's value is over 18k. That being said, now the bank is refusing to go through with the loan until I verify the car's actual worth.

5) In order to do so, they appear to be requiring two individual appraisals. Unfortunately, the vehicle isn't exactly next store to me, and I'm not trying to spend a fortune .. hell, this entire experience has been frustrating enough!

So the question remains: What do I do?

Have any of you experienced these problems in the past? Is there any other way to prove this vehicle's worth? Also, how much do appraisals generally cost? Any help whatsoever would be extremely appreciated!

I want this car!

[Keller]

I think they are looking at the wrong entry in the guide. Have them check the NADA "Classic, Collectible, and Special Interest Car Appraisal Guide". This vehicle may not be in the regular guide because of its age and rarity. (1555 made) They can also call the GSCA for an over-the-phone value indication. Remind them that those things were big buck$ new, and very rare. And NOT a garden variety V8 TA.

You can also contact Pontiac Historic Services at http://www.phs-online.com/ to support your claims.

[pdaj]

I provided the bank with the NADA (collectable) value information. I think it did the trick. I'll find out Monday-Wed and keep you updated! Thank you very, very much.

[pdaj]

Guess who's picking up his 89 tta today?

Thanks for the help.

[Keller]

Congrats! Take care of that rare bird...

[pdaj]

Less than 25k miles .. and in beautiful shape.

I'm babyin' this thing.

I'll have to post pictures soon ..

[Hedge]

Congrats man. I have an 89 TTA for about 6 months. Not in near as nice a shape as yours though. Can't wait to see the pics.