Pantera 28
 

Seriously thinking of buying one of two boats I am looking at right now. One is Velocityricks Pantera in the classifieds. Talked to my credit union today and they tell me its valued at 38k. I went on nada and guess its close for what thats worth. Rick is asking 45k and I think its worth every penny of that if the motor and drive are good. I talked to Rick for an hour Friday and believe all is as stated.

I am waiting on some info from Shogrens now. Jo from Pantera said its a good deal. I didnt need to borrow any money but now the wife and I are looking at buying some property in S Florida and will be using some boat cash for a down payment on that as well. So a partial loan will be done until I sell a boat and our current North Wi property.

Long story question is how do I convince the bank that the boat is worth more than 38k? I planned on putting 40k on the SFlorida property and 10 k on the boat.

Im no professional with loans but when I spoke with my credit union they seemed not inerested with a boat loan. Try wachovia bank. They approved me to 70k and my credit is only so so.

I think your best bet is going to be to try to get the Fl property for a discount or a lower down payment. It's going to be hard to get your bank to buck up on a boat. A credit union might be a better way to go.

What were the rates at? I only plan on borrowing until my other boats sell or better yet , my property up north. Might be a week might be a year.

What did he tell you the boat topped out at? I saw it on another sire with a top speed of 72? Seems low??

I will know today. They will be calling me to discuss

The boat has more in it . It needs more prop. He is hitting the limiter with a detuned motor. Should see 76-78 with proper tune and prop. Thats all I can say on that. Rick can give you all the details . I dont want to speak out of line on anothers boat but it looks like a great buy. But dont slip it out from under me yet.:coolcowboy:

Banks really don't care what its actually worth.
They care about what they can sell it for if they get back.

You could try getting a higher retail value on ABOS or Buck and see if they will take that.

Get it surveyed. Some banks will take survey value. Also does it come w/ a trailer? That's not included on guides, so it's a 7K trailer.....

Also check w/ CU's as others have mentioned. Typically better rates/terms and more flexible on boats.

Ah Ha, very good point. Yes a good trailer. Forgot about that, thanks.