Seriously thinking of buying one of two boats I am looking at right now. One is Velocityricks Pantera in the classifieds. Talked to my credit union today and they tell me its valued at 38k. I went on nada and guess its close for what thats worth. Rick is asking 45k and I think its worth every penny of that if the motor and drive are good. I talked to Rick for an hour Friday and believe all is as stated.

I am waiting on some info from Shogrens now. Jo from Pantera said its a good deal. I didnt need to borrow any money but now the wife and I are looking at buying some property in S Florida and will be using some boat cash for a down payment on that as well. So a partial loan will be done until I sell a boat and our current North Wi property.

Long story question is how do I convince the bank that the boat is worth more than 38k? I planned on putting 40k on the SFlorida property and 10 k on the boat.

Im no professional with loans but when I spoke with my credit union they seemed not inerested with a boat loan. Try wachovia bank. They approved me to 70k and my credit is only so so.

I think your best bet is going to be to try to get the Fl property for a discount or a lower down payment. It's going to be hard to get your bank to buck up on a boat. A credit union might be a better way to go.

What were the rates at? I only plan on borrowing until my other boats sell or better yet , my property up north. Might be a week might be a year.

What did he tell you the boat topped out at? I saw it on another sire with a top speed of 72? Seems low??

I will know today. They will be calling me to discuss

The boat has more in it . It needs more prop. He is hitting the limiter with a detuned motor. Should see 76-78 with proper tune and prop. Thats all I can say on that. Rick can give you all the details . I dont want to speak out of line on anothers boat but it looks like a great buy. But dont slip it out from under me yet.

Banks really don't care what its actually worth.
They care about what they can sell it for if they get back.

You could try getting a higher retail value on ABOS or Buck and see if they will take that.

Get it surveyed. Some banks will take survey value. Also does it come w/ a trailer? That's not included on guides, so it's a 7K trailer.....

Also check w/ CU's as others have mentioned. Typically better rates/terms and more flexible on boats.

Ah Ha, very good point. Yes a good trailer. Forgot about that, thanks.