Originally Posted by 4bus

Not sure if you want help, or if you are just here to vent. But you may have some options you have not explored.

First- List what state you live in, then others can help with referals.

Seems all the banks have different guidelines, you need to find a boat that works with a bank, or vice versa.



I just got approved through my credit union for $75k, it wasn't easy. The funny thing is she told me she could finance a brand new escalade just on the credit score, wouldn't even need a paycheck stub for that! She said "Cars are easy, boats and houses are tough". They wanted more for this boat loan than my house loan, they even want an IRS 4056T.

Originally Posted by JD Dearden

I live in Utah I am venting for sure, but if someone has a solution I will listen.

The amount seems to be an issue. I was actually approved for 75. I went into this adventure with my eye on a used Nordic Thor. That all went straight out window when I saw the SS in person. Don't get me wrong I am not too good for a thor or whatever else, I just don't want to settle and than be doing this all over again in 2 years.

I had one CU decline due to lack of income...And they never asked for my income.

Originally Posted by 4bus

You're going to find this is even harder with performance boats. Funny how they can't decline a loan based on race or color, but they can pick a segment of boating and decline all them.....They are racial profiling, to the perfromance boat race!

I would recommend Key Bank for Utah. You can do it online, they finance performance boats.

They will want a lot of stuff, even more if it is a private sale. My friend financed through them last spring, took a month to close.

I know it is not easy, but persistance seems to help for most.

Originally Posted by JD Dearden

Well that is my last hope at this point. Key bank is the only one I have left in underwriting. They requested everything you mentioned even that IRS form that confirms my tax returns.

Originally Posted by 4bus

Btw, they don't run the 4056t upfront if your copy of the return looks legit. They will however use it to make a fraud case against you if you default on the loan. Fraud can not be discharged in bankruptcy, this form is becoming common practice.

Good luck, I'm sure you can get this done, just have patience

Originally Posted by POWERPLAY J

Thats a real bummer. My buddy just went through the same issue.

Originally Posted by Dean Ferry

I hear ya, we went thru the same thing last spring when we were looking into buying our 388. credit scores over 800, No debt other than our mortgages, (2, 1 on our house, 1 on rental property) and still got denied by EVERYONE! Ended up, scraping together all the cash we could, and paid cash, phuck the banks! Good luck, and if you are interested in a KILLER Deal on a 35' Flame let me know.
Dean