If him and his wife have such good jobs, then why don't have the cash or why can't they get the loan??????????
Chances are they owe money on everything and don't have anything to use as collateral. Anybody with pretty good credit can come up with 20k if they need to.

i held the note once on a boat i had and for me it worked well. it took him 3 years to pay the boat and trailer off. he always paid on time or early. with all the risk involved, i am not sure i would do it again but it was a good expierence and i did charge intrest.

Part of the story is that the boat is an 1989 baja. It is listed on OSO under boats, It has a lot of bells and whistles. The 3 banks he called to get financing told him the year is too old and the one bank told him they were doing boat loans for a while.

I changed the add so it doesn't offer it anymore. I thought it would help selling but I guess not.. I didn't want to be on the "beware" section

Payment plans don't work and you are quickly forgotten. Have him try to use a credit card check or if you have a way to run his card for the payment. Then he has his own payment plan, he can pay as much or as little as his can to the card company.

He has a good job and does his wife...


Glad to hear he still "does his wife", that's got to count for something!

we ran into a similiar situation for our cafe, most major lenders didnt like the age. ended up using a local credit union.

May have to tell the guy to sit out a year or two to get enough saved for a large down payment, the full amount or a different boat.

i have an aquaintenance at work that lended a FRIEND $40k because they fell on hard times. Now the guy wont even call him back, etc. Real ugly situation. If someone you known could do that after being friends for 15-20 yrs, think of a complete stranger...

I can finance anything as old as a 1919

www.essexcredit.com

my buyer read my post on here:

This is what he wrote:

I noticed your post on OSO about personal financing and it sound like you have some
reserves. I thought since you offered financing in the listing, you were ready to
go and were familiar with a process. As much as I want to move forward, I think it
may be best for me to take my chances and see if your boat is still available in
April or May. I am still moving forward on building the motors and if the boat is
in storage, I may luck out and we can start this again in 09 and I may be able to
just purchase out right and forget about the financing. I don't want to have you
nervous or uneasy about being taken for a ride and would prefer to gain a friend
out of the deal. I would still like the additional pictures you talked about and
would like to stay in touch over the holidays.

DaveP how can I get him in touch with you??

I think from the way he is talking I can still salvage this. His Daughter is getting married and I think he is just being cautious that the wedding bill is going to get expensive...

I just want to sell a boat.. I should take most of the blame for offering financing..

Thanks for everyones help

Not to be rude you just cost yourself $$$$ if he holds out become the bank take the ^$6000
hold title till payed off!!!

Run for the hills.

Meaning do not finance yourself. Having the title won't mean **** when the **** hits the fan. Will take attorneys and all kinds of time. If the guy can't afford or finance the purchase how in the world is he going to afford everything that's needed to spend a day making no money out on the water.