Marine Finance 101 - What is a boat loan?
12-09-2006, 04:14 PM
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Re: Marine Finance 101 - What is a boat loan?
Great Post................
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12-18-2006, 10:20 AM
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Re: Marine Finance 101 - What is a boat loan?
You need to interview your surveyor to determine that he's familiar enough with the type of craft you're looking at, to make you comfortable...simple as that! The accreditations listed after you prospective suveyor's name would indicate training and experience in a variety of areas including hull construction & design, repair, and systems(plumbing and electrical). You still need to ask questions; some suveyors also specialize in a particular discipline...I.E. forensic, repair, insurance, and pre-purchase surveys.
Hugh
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12-18-2006, 10:27 AM
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Re: Marine Finance 101 - What is a boat loan?
Originally Posted by hpoffshore
You need to interview your surveyor to determine that he's familiar enough with the type of craft you're looking at, to make you comfortable...simple as that! The accreditations listed after you prospective suveyor's name would indicate training and experience in a variety of areas including hull construction & design, repair, and systems(plumbing and electrical). You still need to ask questions; some suveyors also specialize in a particular discipline...I.E. forensic, repair, insurance, and pre-purchase surveys.
Hugh
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12-18-2006, 10:45 AM
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Re: Marine Finance 101 - What is a boat loan?
Originally Posted by DaveP
What is a boat loan?
12-18-2006, 11:17 AM
#16
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Re: Marine Finance 101 - What is a boat loan?
Originally Posted by hpoffshore
You need to interview your surveyor to determine that he's familiar enough with the type of craft you're looking at, to make you comfortable...simple as that! The accreditations listed after you prospective suveyor's name would indicate training and experience in a variety of areas including hull construction & design, repair, and systems(plumbing and electrical). You still need to ask questions; some suveyors also specialize in a particular discipline...I.E. forensic, repair, insurance, and pre-purchase surveys.
Hugh
Hugh
Hugh, do you do surveys?
12-19-2006, 03:12 PM
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Re: Marine Finance 101 - What is a boat loan?
So lets say I'm in a boat loan now. If I sell it or want to trade it in, what are the risks that the bank will not refinance me for another boat? Im only talking a $30k difference in price. My credit has not gone down. Score wise it has gone up. Debt wise it has gone down. (Home purchase vs. renting)
Is it possible to get pre-approved for a boat loan?
Is it possible to get pre-approved for a boat loan?
12-19-2006, 04:02 PM
#18
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Re: Marine Finance 101 - What is a boat loan?
Originally Posted by FormulaOne
So lets say I'm in a boat loan now. If I sell it or want to trade it in, what are the risks that the bank will not refinance me for another boat? Im only talking a $30k difference in price. My credit has not gone down. Score wise it has gone up. Debt wise it has gone down. (Home purchase vs. renting)
Is it possible to get pre-approved for a boat loan?
Is it possible to get pre-approved for a boat loan?
12-20-2006, 06:25 PM
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Re: Marine Finance 101 - What is a boat loan?
Originally Posted by FormulaOne
So lets say I'm in a boat loan now. If I sell it or want to trade it in, what are the risks that the bank will not refinance me for another boat? Im only talking a $30k difference in price. My credit has not gone down. Score wise it has gone up. Debt wise it has gone down. (Home purchase vs. renting)
Is it possible to get pre-approved for a boat loan?
Is it possible to get pre-approved for a boat loan?
Pre-approval is the best way to go. Go to www.essexcredit.com to get pre-approved within 24hrs.
If you buy after getting preapproved - GREAT
If you do not buy - that is ok too and you are obligated for NOTHING.
12-24-2006, 07:32 AM
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Re: Marine Finance 101 - What is a boat loan?
Great Post Dave,
What about finiance inquireys?
Example. I was going to purchase my first boat. I wanted a 10 yr loan. One bank tried and said they would only give me 5 another said nope to long of a loan for a 1995 boat. etc...
I finally ended up with a bank that does so they call it BOAT loans-ultimately Bank of amer.
He ran my credit said no problem. 10 yrs.
I asked him about the other declines I had and he said yes they showed up....Credit inquires.
How much do they hit my credit score?
Thanks
Dennis
What about finiance inquireys?
Example. I was going to purchase my first boat. I wanted a 10 yr loan. One bank tried and said they would only give me 5 another said nope to long of a loan for a 1995 boat. etc...
I finally ended up with a bank that does so they call it BOAT loans-ultimately Bank of amer.
He ran my credit said no problem. 10 yrs.
I asked him about the other declines I had and he said yes they showed up....Credit inquires.
How much do they hit my credit score?
Thanks
Dennis
