Help! Never financed one before...
#11
Registered
Yes we are talking about a 3600 Supercat which is what I ended up with. If you haven't seen one in person they are absolutely incredible!! You aren't going to find many insurance companies that will write it unless you can "sneak" it under their radar which may be an issue if you had a claim I'm not sure just be prepared to bend over for the one or two companies that do write them.
#12
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iTrader: (3)
i second lightstream. Im about the same credit score. Zero balance on 6 cards. Only thing outstanding is the house which is 2/3 paid off. Was trying to get a loan on a Mercedes with a lemon title. They didnt care about the car, just straight up gave me a personal loan at 4% so i have the car and title. Super easy to deal with .Now they keel trying to offer me more money. Lol
#14
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I was told I didn't HAVE to take Tres class but the rate is much higher without taking it. I will say that it is money WELL spent for anyone wondering.
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Griff (08-09-2021)
#15
Registered
When I looked into this the best rates were through a home equity line of credit. Basically you are using the equity in your house to finance whatever you want. Usually the bank will ask what you plan to do with the funds but once approved they really don't care. As you pay it off that line of credit is again available for a new purchase as long as you are within the draw period. In my case I was going to use it to redo my bulkhead and install a boat lift. Then pay some off and fund the purchase of a boat. With close to half down on a $100k boat the payments would have been under $600/month. Keep in mine that most traditional boat loans won't finance anything 20 years old. In your case that may not be an issue as you stated you were looking newer. Shop around and see what works best for your situation.
#16
I don't want to touch the home....it does make sense to refi, but I just have that sense of security that if something happens to me the house cant be touched. I am thinking to wait a few months more and get more of a down payment and use a credit union and maybe finance something like 50k. Never know.....boat prices just might come down!!!!!!!!mLOL
#17
Registered
I don't want to touch the home....it does make sense to refi, but I just have that sense of security that if something happens to me the house cant be touched. I am thinking to wait a few months more and get more of a down payment and use a credit union and maybe finance something like 50k. Never know.....boat prices just might come down!!!!!!!!mLOL
#18
In 08 when I bought the T/S- I had over 50% down on $150k boat. All of my banking was w Bank of America for 30+ years prior. 2 houses, cars and several other things all paid off.
Went there for loan and was denied. over 800 credit. Went to local bank BOK and was approved and we didn't even have any money w them at the time.
As soon as I was approved I went back to BoA and withdrew every cent I had in their bank and have never looked back. Much nicer having a bank that is local and acts like they care, personal banker for any business issues. Very helpful w the PPP.
Of course 08 was right at the start of the housing/banking crash so maybe that had a little to do with it as BoA was in the ringer lol
Went there for loan and was denied. over 800 credit. Went to local bank BOK and was approved and we didn't even have any money w them at the time.
As soon as I was approved I went back to BoA and withdrew every cent I had in their bank and have never looked back. Much nicer having a bank that is local and acts like they care, personal banker for any business issues. Very helpful w the PPP.
Of course 08 was right at the start of the housing/banking crash so maybe that had a little to do with it as BoA was in the ringer lol
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Griff (08-10-2021)
#19
Registered
In 08 when I bought the T/S- I had over 50% down on $150k boat. All of my banking was w Bank of America for 30+ years prior. 2 houses, cars and several other things all paid off.
Went there for loan and was denied. over 800 credit. Went to local bank BOK and was approved and we didn't even have any money w them at the time.
As soon as I was approved I went back to BoA and withdrew every cent I had in their bank and have never looked back. Much nicer having a bank that is local and acts like they care, personal banker for any business issues. Very helpful w the PPP.
Of course 08 was right at the start of the housing/banking crash so maybe that had a little to do with it as BoA was in the ringer lol
Went there for loan and was denied. over 800 credit. Went to local bank BOK and was approved and we didn't even have any money w them at the time.
As soon as I was approved I went back to BoA and withdrew every cent I had in their bank and have never looked back. Much nicer having a bank that is local and acts like they care, personal banker for any business issues. Very helpful w the PPP.
Of course 08 was right at the start of the housing/banking crash so maybe that had a little to do with it as BoA was in the ringer lol
#20
Platinum Member
Platinum Member
iTrader: (6)
Bank of America, Wells Fargo, Chase Manhattan are all crooks.......