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-   -   Why is this not sold yet? 35 cafe (https://www.offshoreonly.com/forums/cigarette/308179-why-not-sold-yet-35-cafe.html)

endeavor1 02-06-2014 11:48 AM
Originally Posted by GL@PBC (Post 4070112)
The buyer got financing from his credit union on this 1990, another Bullet I sold last year was an 88 and he also got financing on it. Both were from a credit union, regular banks won't usually go back that far.
+1

Ran into that on my Cig when it was listed or sky high interest rates. Banks wont generally go back to far vs credit union who will work with their members. I think Key Bank and Essex only would go back 6 or 7 years when I looked at loans a few years ago. Glenn, are there any local CU's that PBC could work with to help folks line up financing if need be? Win Win for PBC, local community and the buyer IMO.

36Envision 02-06-2014 11:54 AM
Originally Posted by GL@PBC (Post 4070112)
The buyer got financing from his credit union on this 1990, another Bullet I sold last year was an 88 and he also got financing on it. Both were from a credit union, regular banks won't usually go back that far.
Yep. Credit unions do not consider year to be a major factor. The "NADA" is primarily what they focus on. They also typically won't lend for longer terms, I.e. 10+ years on the amortization.

GL@PBC 02-06-2014 12:00 PM
Originally Posted by endeavor1 (Post 4070154)
+1

Ran into that on my Cig when it was listed or sky high interest rates. Banks wont generally go back to far vs credit union who will work with their members. I think Key Bank and Essex only would go back 6 or 7 years when I looked at loans a few years ago. Glenn, are there any local CU's that PBC could work with to help folks line up financing if need be? Win Win for PBC, local community and the buyer IMO.
I do have one here at the lake, called Mid Missouri Credit Union right here in Osage Beach. Their rates seem to be competitive and older boats are not a big hurdle for them.

GL@PBC 02-06-2014 12:02 PM
I used the local Formula dealer for my 98 382 last fall, rates were good and they went 15 years too.


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