Has anyone purchased a boat out of state from a private party in which they got a loan to purchase? Problem I am having is trying to find a solution to get the seller his money, as I can't get the money from the loan unless I have bill of sale and title for them to disburse, and I don't expect to get the bill of sale and title without paying the man. Its a local credit union so there aren't any branches near the seller. Seller is 850 miles away...Looking for ideas on how to work this out. The seller also has a small lien, and he is unable to delivery due too his schedule.

the banks can work with each other [ they trust other banks ,more than people ] your bank needs a bill of sale and copy of title they would pay to his bank, and his bank will send the title to them. your bank then fills out registration with there lien and sends it in down side its paid for before you see it or have it unless you have a great bank [hard to find these days] who could arrange wire transfer waiting your instruction drive out see the boat call your bank they wire to other bank you take boat home, seller gets his equity from his bank. don't forget to have insurance in place for drive home

I used USAA and easy!! They sent me the check and i brought it with me for after i did sea trial. Great rates/terms! Boat booked for 15k than I bought it for but they only wanted 100% loan to value.

My local credit union also did the same for me. You may want to try another credit union.

I used http://www.dealerfsg.com/ and they handled directly with seller and his bank. They did good work.

Thanks for the input fellas.

I used Americu. Gave them a copy of the Purchase Agreement and copies of the boat and trailer titles. They cut me two checks, one made out to the seller and the other to the lienholder. I FedEx'ed the checks to the out of state seller. He gave the bank their check and kept his. The banks talk to each other on the side. Americu rates around 5% for boats 10 years and newer with scores 680-700, 700 and above rates in the 4%. Credit Unions the way to go. Banks suck.

My credit union needed copies of both titles (boat and trailer) plus a copy of purchase agreement. I also set up a pre-paid appointment at a marina close to seller for an inspection/compression test that the seller took it to. After my credit union had copies of everything they cut me a bank check to take with me to finalize sale after my personal inspection. This was a michigan/ illinois deal. It seemed like we both had to jump through some hoops but it worked out in the end.