Nate5.0

Might end up working that way if they wont except what I currently have.

Plowtownmissile

I went through the same thing a long time ago where they *****ed about the high deductible. Simple solution: I let them hold the amount of the deductible in escrow for the duration. It took them all of 30 seconds to agree to it.

scarabman

iTrader: (1)

What do your loan docs state regarding coverages and deductibles? Is it in there? If not, presents a basis for argument.

Griff

I would tell your bank and take all of my business elsewhere. From talking to you before, it is obvious they don't have a clue what they are doing.

Nate5.0

They are a general basis doc and the bank can change the amount they request if the manager says it's ok which is what I am waiting on today.

Nate5.0

Ya they are a small local Credit Union here and it shows they are not up to speed on somethings that's for sure.

mallatt442

If you are in a position to, deposit the balance of the loan in a CD at the bank, borrow against the CD, and pay off the boat loan. 3 things happen here.....you borrow for 2 points over (ish) what the CD pays, you eliminate the insurance hassle and you build credit.

mallatt442

An interesting side note... When discussing raising my deductible with my banker of 25 years he said " I don't care if you have insurance or not. On every vehicle loan we make, we put and insurance policy on it so if you total the vehicle and don't pay, we still get our money. It' only 1.50 a month per loan, so why not?" Keep I mind this is a small town bank and the conversation happened several years ago.... The conversation happened because I asked my insurance company to raise it and they wouldn't do it without a letter from my bank....

Nate5.0

Hmm.....I might just have to look into this.

I do have the loose funds to do it. I only took out the boat loan to build the credit. It is a small loan with a short term

1989mach1

pay off the boat and get a credit card to use just for gas for the boat and every time the bill comes in pay it in full u will see your credit score go throw the roof and fast. we all know how much we spend in gas a year and make Shure the card gives u cash back on gas too. that will pay 3 % on something u r going to by every weekend any ways... I use wake zone for my boat and was the best coverage for my boat and was turned down by every one else. Stacy is the best I think and wont go any where else u should give her a call it cant hurt.