This is no Rant, this is just fact, I bet thier is more buyers going thru this then might want to say because of pride!!! and Credit Unions will only do 7 years!! that is alot of high dollar payment for a 100k boat!!

The problem is the boat market is in the toilet, similar to the housing market. Banks don't want to lend money on a 100k boat today that might be worth 60k in year or two. Even with 20% down ,the buyer would still be upside down.

I don't disagree with you on anything you posted. I'm just glad I purchased and financed before the chit storm. It would be nice to know I could move up easily if I wanted to, but I doubt it could happen for while.

Funny,
i just got a letter from national city bank, (one of our 4 banks that we have accounts with) telling my wife she is preapproved for a boat, don't know what amount she is preapproved for, but we just paid off our boat loan with them last year..... I guess it depends on your bank.
Dean

I am glad I bought last year as well. Its also nice to have a good relationship with the bank that you are trying to do biz with. Sometimes that make a big difference pushing the loan through, I have finanaced 4 boats without puttting a dollar down.

You should have kept the apache.

Lending was beyond way nuts... I kept waiting for them to want me to fax a few weeks worth of pay stubs... NOTHING....... not that i lied but i could have i guess....

i had a buddy in NC who hadnt had a job since i knew him,, 1.5 yrs atleast, who i guess just told them he worked for XX inc or what not, told them a salary and got the loan 80k+.... its insane, banks deserve whatever they have coming...... its just too bad now the only way they can figure out to fix it is not loan

Hi Dave: At Deep Impact Boats we are available to in house finance up to 1/2 dozen boats to promote our product and to get through the times at hand. We require min 35% down, FICA score doesn`t effect the loan, but still has to be 640 or better, like the old days. Interest rate will be based on the customers ability to pay and amount of years to finance. You and I discussed this in NY. So far the occasion has not happened, but it`s available and we are trying to be creative. If someone wants a Deep Impact we are going to do what we can to make that happen.

Not worth it!!!!!

Richie - what you have is a truely unique program that in today's environment is awesome. Unfortunately most manufacturers do not have the ability to do such a program.

I am still available to finance all of the ones you don't place in house