Financing a new boat.
If your thinking of selling your boat to get a new one like I did.....DON'T
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Explain...
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Originally Posted by POWERPLAY J
(Post 3610998)
Explain...
It is just frustrating, especially since other people's time is involved. I hate wasting people's time. |
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Originally Posted by JD Dearden
(Post 3611007)
It is very hard to get approved, and for me looks like impossible. but I suppose everyone already knew that. I have been within the underwriting guildlines with the few banks and CU I applied with, but they still find a way to kick it out.
It is just frustrating, especially since other people's time is involved. I hate wasting people's time. |
Originally Posted by Baja_man
(Post 3611015)
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Originally Posted by JD Dearden
(Post 3611022)
Yes.
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Originally Posted by POWERPLAY J
(Post 3611021)
Thats a real bummer. My buddy just went through the same issue.
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Originally Posted by Baja_man
(Post 3611025)
Sorry to hear. Was it a low credit score or income that is preventing it?
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Originally Posted by JD Dearden
(Post 3611028)
All three scores are in the 700's. With the boat my debt to income ratio is 30%.
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. |
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