Credit Union Says Bronco Value Under MSRP

[Neptune032701]

Hello,
Just curious if anyone has run into this issue. Getting my Bronco this week and working with my local credit union for financing. My Credit Union called yesterday to say that they don't value the vehicle at what I'm paying. I'm paying MSRP for a Bronco Big Bend with mid-package. Luckily I planned to put half down anyway but they only value the Bronco in the high 30k range. I don't ever remember buying a vehicle that was valued for less than MSRP. Just curious if this is common or if anyone has seen that before?

Funny thing is that I could probably turn around and sell it (not going too) for more than I'm paying for it.

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[Hkak45]

My credit union I went with did not say anything about that. Only time I have seen that was when someone pays over sticker for a vehicle. Still wondering how these people that are paying the $20k over MSRP are going to pay for their bronco unless they put down a huge down payment

 

[Monster1926]

Hello,
Just curious if anyone has run into this issue. Getting my Bronco this week and working with my local credit union for financing. My Credit Union called yesterday to say that they don't value the vehicle at what I'm paying. I'm paying MSRP for a Bronco Big Bend with mid-package. Luckily I planned to put half down anyway but they only value the Bronco in the high 30k range. I don't ever remember buying a vehicle that was valued for less than MSRP. Just curious if this is common or if anyone has seen that before?

Funny thing is that I could probably turn around and sell it (not going too) for more than I'm paying for it.

Very odd, with it being brand new they usually value it with what the MSRP says.

 

[ZackDanger]

I know they’re supposed to look up by vin, but I can imagine someone clicking the drop down boxes for the sport.

 

[VelocityBronco]

Hello,
Just curious if anyone has run into this issue. Getting my Bronco this week and working with my local credit union for financing. My Credit Union called yesterday to say that they don't value the vehicle at what I'm paying. I'm paying MSRP for a Bronco Big Bend with mid-package. Luckily I planned to put half down anyway but they only value the Bronco in the high 30k range. I don't ever remember buying a vehicle that was valued for less than MSRP. Just curious if this is common or if anyone has seen that before?

Funny thing is that I could probably turn around and sell it (not going too) for more than I'm paying for it.

Maybe find a new credit union that isn't on drugs? How can they tell you they value a vehicle for less than what the manufacturer lists as MSRP?? You are buying new, the value should be MSRP. If you were buying it used, I could see this coming up.
Maybe it's too new of a vehicle and not entered into their system, or not entered correctly? I know my insurance had some issue with the Bronco being so new they didn't have data on it in their system yet.

 

[iBrad81]

Are they valuing a sport maybe?

 

[Blue's B6G]

Your credit union is utterly clueless.

There hasn’t been a hotter vehicle in decades.

Maybe they thought it was a Bronco Sport?

 

[kodiakisland]

Someone there isn't good at their job, and most places will actually loan a certain percentage over the estimated value.

Most likely looking at a Sport instead of using the VIN#.

 

[Neptune032701]

Yeah, I gave them the Vin so I assumed they used it, but that does seem much closer to Bronco Sport value.

The interest rate is good so it doesn't really matter to me since I didn't need the full amount.

I asked the loan officer how a vehicle could be valued under MSRP, but she doesn't have anything to do with estimating value.

 

[law]

Is that what they will loan or value? I wonder if they have the right bronco. Did you clarify bronco and not a sport?
credit unions are typically very conservative so that could be it too
if it’s a good rate, take it

 

[Oceannomad]

Yeah I’ve never had a bank/CU say the car is worth less then stated msrp. Someone there is looking at the wrong vehicle

 

[Broncoshrimp]

I was a indirect lending officer for 10 years (lender to only dealerships…auto/rv). I’d bet that they’re using the Bronco Sport’s value. Most lending institutions derive their collateral values with either NADA or KBB values or if it’s a new vehicle, the MSRP/invoice sheet from the dealer.
Tell your loan officer to get the msrp/invoice sheet from your dealer.

 

[GaryB2220]

The probably thought you were talking about a bronco sport lol. FACEPALM

 

[atonge40]

They should be using the purchase agreement/window sticker to establish value. They are either using BS values or putting something in wrong in the system that generates values. If they are using NADA and not stacking options, they could have a problem because NADA doesn’t have Bronco sales data for used purchases.

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