Re: 1990 Cigarette Bullet on BoatTrader
 

I talked with my finance officer and got some bad news. They will only loan 90% of "low retail". The NADA "low retail" on a 1990 Bullet with 500hp engines is $56,900. 90% is $51,200. That leaves me with over $10,000 to make up, and I can't do that.

Thanks anyway guys... :(

Re: 1990 Cigarette Bullet on BoatTrader
 

We have a Bullet for sale 1989 1- owner kept high & dry since new here in Miami. $ 49,900......... Make us an offer ! 454's Bravos....... Low hrs.

Re: 1990 Cigarette Bullet on BoatTrader
 

NADA "low retail" is $37,370. That's my offer. sorry...

Re: 1990 Cigarette Bullet on BoatTrader
 

sorry for the news bud

jr mike

Re: 1990 Cigarette Bullet on BoatTrader
 

Maybe if you showed your "finance officer" some of the Claymates, maybe they would be more flexible!!! :D :D :D

Sounds to me like this finance company is not working in your favor ???

Good Luck !!!

Re: 1990 Cigarette Bullet on BoatTrader
 

Thanks. I totally understand the 90% loan-to-value policy. I just want the "value" to be what is stated on the survey... not what NADA says...

oh well...

Re: 1990 Cigarette Bullet on BoatTrader
 

Just work some more OT and you will have the ten grand. Problem solved

Re: 1990 Cigarette Bullet on BoatTrader
 

Have you talked to Dave Patnaude at Essex Credit? He has helped me & several other members of the board.

http://www.offshoreonly.com/forums/s...ad.php?t=95112

A quote: "BUYING A BOAT FOR $100k THAT HAS A BOOK VALUE OF $50k: Most Banks want to loan 80% of what the current wholesale value of any used boat. The only way to get around this to have a Marine Surveyor survey the boat and if the Survey says the current value is $100k, then most times the bank will take that value as the benchmark and not the wholesale book value."

Re: 1990 Cigarette Bullet on BoatTrader
 

My boats still looking good huh!!! :D

Re: 1990 Cigarette Bullet on BoatTrader
 

Yep! My "dream boat" would be a Cig, so I'm gonna try that first. But, I haven't forgotten about your boat. :cool: