Boats For Sale:
Best way to obtain loan value on classic boats |
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ThatNautiqueGuy 
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Joined: July-28-2011 Location: Arkansas Status: Offline Points: 16 |
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 Topic: Best way to obtain loan value on classic boatsPosted: August-29-2012 at 9:25pm |
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I have a 75 Ski Nautique that I am selling and the guy cannot get a loan from his Credit Union because their NADA values only goes back to 78. The loan officer says it has to be NADA or KBB value. Anyone know of the best way to handle this?
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65 'cuda
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Joined: July-12-2005 Location: Cincinnati, OH Status: Offline Points: 1091 |
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Posted: August-29-2012 at 9:30pm |
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Owner financing?
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ThatNautiqueGuy
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Posted: August-29-2012 at 10:21pm |
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Well the guy lives in Minnesota and I'm not willing to do that. I want the cash if ya know what I mean.
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Tim D
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Joined: August-23-2004 Location: United States Status: Offline Points: 2635 |
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Posted: August-29-2012 at 11:37pm |
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He should get a home equity loan.
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Tim D
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dwouncmd
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Joined: July-10-2009 Location: NC Status: Offline Points: 919 |
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Posted: August-30-2012 at 12:30am |
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Does anyone in this brave new world have home equity anymore? Just kidding (mostly). Good idea... |
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89 SN
<a href="http://www.correctcraftfan.com/diaries/details.asp?ID=6567&sort=&pagenum=1" rel="nofollow">7 |
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05 210
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Joined: February-17-2006 Location: Southern Maine Status: Offline Points: 1481 |
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Posted: August-30-2012 at 12:42am |
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Personal loan ? If i may ask, whats the selling price?
Mike |
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Air206
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Joined: September-28-2008 Location: Roanoke, VA Status: Offline Points: 3000 |
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Posted: August-30-2012 at 1:18am |
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Home equity line is the way to go....in our area, lowest rates in a while! That's how I am getting my next Correct Craft, Equity Line plus a little seed money from my Little Tique..... 
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00cls1camaross
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Joined: June-23-2011 Location: Tempe, AZ Status: Offline Points: 123 |
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Posted: August-31-2012 at 2:28am |
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I financed it through my truck. I took out a small loan and paid the rest cash. Not the best interest rate, but I was able to get financing.
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2002 Chevrolet Silverado Z71
33 x 12.50s, BBK, Cranked 2000 Camaro SS Cam, Slicks, Boltons, Stall 1985 Ski Nautique MT1, Board Rack, ACME 542 Future:Stereo, Wrap, Girls |
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Dreaming
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Joined: May-21-2010 Location: Tacoma, WA Status: Offline Points: 1870 |
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Posted: August-31-2012 at 3:26pm |
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on a 75 model boat? I understand being short on cash, or maybe that boat is super pristine, but I'd have a really hard time borrowing on either my house or my cars to justify what I would assume to be a couple of thousand dollar transaction. You know what they say about BOAT, if you cant afford the first couple of thousand, how are you going to maintain it and put fuel in it? I digress...
 Another way around might be Paypal or some place that does a credit card transaction. If you do it this way, make sure you know what all the fees are for the middle man. 
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rober10
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Joined: October-16-2012 Location: U.S Status: Offline Points: 1 |
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Posted: October-16-2012 at 5:13pm |
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There are nothing about cars..
NADA and KBB just get their values in different ways and such. Usually, i would just average the TMV and KBB.. |
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8122pbrainard
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Joined: September-14-2006 Location: Three Lakes Wi. Status: Offline Points: 41040 |
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Posted: October-16-2012 at 9:41pm |
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I totally agree!!!! We have been through this several times that "toys" should not be financed!! |
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74Wind
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Joined: August-02-2011 Location: Georgia Status: Offline Points: 2101 |
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Posted: October-16-2012 at 11:02pm |
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Note this thread started in August....
Yup, if you can't pay cash for a 37 year old boat you need a cheaper hobby 
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1974 Southwind 18
1975 Century Mark II |
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8122pbrainard
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Joined: September-14-2006 Location: Three Lakes Wi. Status: Offline Points: 41040 |
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Posted: October-16-2012 at 11:08pm |
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I didn't even notice!! But, one thing I did now notice is that "Rober10" post is spam!! See his link at the bottom? Cheap ass advertisement! |
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turningpoint84
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Joined: September-11-2008 Location: Cincinnati, OH Status: Offline Points: 1467 |
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Posted: October-17-2012 at 6:34pm |
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ANyone with a car loan or boat loan should look inot penfed.org
rates are extremely low, i pay 1.99% on my used 2007 tundra. they do boats too, but might not go before 1978. could go the "personal loan" route also. 8.99% interest is tough. https://www.penfed.org/Personal-Loan/ |
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Proud 1968 mustang owner and now
1970 Mustang |
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GlassSeeker
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Joined: November-26-2008 Location: Elk Grove, CA. Status: Offline Points: 2421 |
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Posted: October-17-2012 at 6:51pm |
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I would say if a guy can't pay cash for a 75CC that you really do not have a buyer at all.
So did you sell it? to the guy who needed financing? or???? |
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This is the life
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Tim D wrote: