I feel that the banks( goverment) are going to kill Perfomance boats. They will no longer loan money based on credit score or value of what you are buying!!!!, they are now looking at stated income and cash in bank!!! Most performance boat owners are business owners and dont show all thier income!! or have tons of chash on hand!!! or cash they can show!! I know for a fact that you can have no more then 42% debt to income, and have to have as much in the bank as the loan values to get a boat loan and have 15-30% down !! I rember the days when credit score and the value of the item was the most important items!! I dont know what the performance boat manufactures are going to do to fix this problem, but thier are alot of buyer that are being turned down right now based on these facts!! I am one of them. I feel the boat manufactures need to start thier own Financing companies to sell thier boat!!! or thier needs to be a good bank started to sell boats, RV, and all toys for adults!!! If not we will see the complete destruction of our hobby!!!!!! I have alot more to say but really dont know how to put it in words.

Quality of your rant "B"
Spelling "D"
Grammar "D"

Otherwise you might be onto something

And yes...

New Standards....
Max 42% DTI
Proof of income on all loans
Hi Performance = 25-35% down
Liquid assets = at least the value of the loan if not 1 = 1 ratio with your total debt load.

The reason why is that hi performance repos historically have the worst losses as they are historically returned in the worst condition (not my opinion - just stating the facts)

Sorry Dave I was typing fast and on a rant!!!!!

Also - you are right. Credit score in an escalating unemployment environment and increasing deflationary environment does not mean or carry the "weight" it used to.

don't fill out the forms yourself next time. I give the rant a C+ I just can't dance to it. try a small town credit union in the midwest they still think everything is fine.

Overall, all lending in general was "way nuts" for many years. Right now the pendulum has swung from WAY LEFT to WAAAAAAAYYYYYY RIGHT. It needs to come back to the middle ground to "make sense" and get lending moving forward again

I understand Dave but thier are tons or great quaified buyers out thier right now that are getting turned down because of these new loan terms!!!!!! and cut me some slack slack on the spelling when it late!!!! you know what I do!!

hahahah you got it Bill!

Thanks Dave, you know what I am getting at!!!!! I could go out and get a loan for a new Mustang Shelby KR 500, 60,000K car or (Dodge Viper)and get approved, but when you ask for a boat loan you are frowned apon buy banks( something you dont need), it does not make any sense to me!!!