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

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07-31-2007 | 10:03 AM
  #1  
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.
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07-31-2007 | 12:13 PM
  #2  
If you can get "spec" sheets from the builder, that will help (with insurance).
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08-01-2007 | 11:22 AM
  #3  
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.
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08-01-2007 | 01:22 PM
  #4  
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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