few finance questions
#1
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few finance questions
looking at a nice 88 Formula 292 SR-1, im tryin to figure out who will finance something that old. Im looking to sell my current boat and put a 50% down. But my problem is i have a small student loan for less then 10k and its deffered until 2013 when i graduate. But ive never had a loan on a vehicle or boat, just a credit card but ive had it for 2 years and never missed a payment on it.
Anyone have any ideas on financing options?
Thanks, MitcH
Anyone have any ideas on financing options?
Thanks, MitcH
#3
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Overall I think you may still have a tough time do to your limited credit history, they will most likely look for a co signer. I assume you do not have a full time job as well?
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I was told by Key just last year when I purchased mine that 12 years old was max. You might want to try that bank in OH that Stacey from Wake Zone reccomends, USA bank I think?
Overall I think you may still have a tough time do to your limited credit history, they will most likely look for a co signer. I assume you do not have a full time job as well?
Overall I think you may still have a tough time do to your limited credit history, they will most likely look for a co signer. I assume you do not have a full time job as well?
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Do yourself a favor and don't get into that kind of debt while your in college. It will just make added stress that you don't need. Either wait till your out of school with a career started or get your parents to buy it!! And financing a boat is nothing like a car, getting financing for a boat was harder than getting financing for a house! Especially when you are going older and cheaper. I ended up having to go to a credit union 200 miles away to get mine financed. Everywhere I tried the boat was either to old, to cheap i.e. not enough for them to loan on, or both! Good Luck!
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Do yourself a favor and don't get into that kind of debt while your in college. It will just make added stress that you don't need. Either wait till your out of school with a career started or get your parents to buy it!! And financing a boat is nothing like a car, getting financing for a boat was harder than getting financing for a house! Especially when you are going older and cheaper. I ended up having to go to a credit union 200 miles away to get mine financed. Everywhere I tried the boat was either to old, to cheap i.e. not enough for them to loan on, or both! Good Luck!
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Give it a shot if it is your wish. I will warn you under most circumstances a boat loan is much harder to get than a car loan. My CU will loan me money for a new Excalade based on a phone call and my credit score, they don't even verify income. However, if I wanted to buy a $80k boat there they treat it as a mortgage, income verifications, stable employment, tax returns, key bank does the same.
Maybe in your price range they would just consider it a normal loan, worth a shot I guess.
Maybe in your price range they would just consider it a normal loan, worth a shot I guess.