Offshoreonly.com - Is it hard to get financing when boat not in NADA?

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MDSmitty

07-31-2007 10:03 AM

Is it hard to get financing when boat not in NADA?

If a used boat is not in the NADA guide how hard is it to get financing?

I have no way of looking at the BUC guides at the moment, so I don't know whether they're in there or not.

Since the insurance rates have scared me away from cats I'm intrigued by Progression 24 & 27 and Superboat Y2K. None of which are in the online NADA.

Insurance God

07-31-2007 12:13 PM

If you can get "spec" sheets from the builder, that will help (with insurance).

BGIII

08-01-2007 11:22 AM

Mine is not on the NADA and it never even came up. I had a survey in hand and that was all the local bank needed. I did a re-fi a couple months after the original purchase w/ National City to get a better rate and it never came up with them either. I also had no problems getting quotes and securing insurance.

Donman

08-01-2007 01:22 PM

When I financed my 1986 Sutphen, the NADA value never came up. My credit limit was determined by my credit score.

They did require a survey, but did not mention the appraised value in the paperwork.

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