Best way to obtain loan value on classic boats
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URL: http://www.CorrectCraftFan.com/forum/forum_posts.asp?TID=27665
Printed Date: November-27-2024 at 1:34am
Topic: Best way to obtain loan value on classic boats
Posted By: ThatNautiqueGuy
Subject: Best way to obtain loan value on classic boats
Date Posted: 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? |
Replies:
Posted By: 65 'cuda
Date Posted: August-29-2012 at 9:30pm
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Owner financing? ------------- Gary http://www.correctcraftfan.com/diaries/details.asp?ID=941" rel="nofollow - 1965 Barracuda SS |
Posted By: ThatNautiqueGuy
Date Posted: August-29-2012 at 10:21pm
| Well the guy lives in Minnesota and I'm not willing to do that. I want the cash if ya know what I mean. |
Posted By: Tim D
Date Posted: August-29-2012 at 11:37pm
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He should get a home equity loan. ------------- Tim D |
Posted By: dwouncmd
Date Posted: August-30-2012 at 12:30am
Does anyone in this brave new world have home equity anymore? Just kidding (mostly). Good idea... ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=6535&sort=&pagenum=2" rel="nofollow - 89 SN <a href="http://www.correctcraftfan.com/diaries/details.asp?ID=6567&sort=&pagenum=1" rel="nofollow">7 |
Tim D wrote:Posted By: 05 210
Date Posted: August-30-2012 at 12:42am
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Personal loan ? If i may ask, whats the selling price? Mike ------------- http:/diaries/details.asp?ID=2219" rel="nofollow - Air Nautique 210 Team 640 hours, not 1 regret |
Posted By: Air206
Date Posted: August-30-2012 at 1:18am
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.....  ------------- https://tinyurl.com/y6t5e3bu" rel="nofollow - 04 Air206 http://tinyurl.com/9urzgls" rel="nofollow - 91 Barefoot 78 SkiTiq |
Posted By: 00cls1camaross
Date 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. ------------- 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 |
Posted By: Dreaming
Date Posted: August-31-2012 at 3:26pm
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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Posted By: rober10
Date 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.. ------------- http://www.interstatecapital.com/invoice-financing" rel="nofollow - InterstateCapital Invoice Financing |
Posted By: 8122pbrainard
Date Posted: October-16-2012 at 9:41pm
I totally agree!!!! We have been through this several times that "toys" should not be financed!! ------------- /diaries/details.asp?ID=1622" rel="nofollow - 54 Atom /diaries/details.asp?ID=2179" rel="nofollow - 77 Tique 64 X55 Dunphy Keep it original, Pete < |
Posted By: 74Wind
Date 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  ------------- 1974 Southwind 18 1975 Century Mark II |
Posted By: 8122pbrainard
Date Posted: October-16-2012 at 11:08pm
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! ------------- /diaries/details.asp?ID=1622" rel="nofollow - 54 Atom /diaries/details.asp?ID=2179" rel="nofollow - 77 Tique 64 X55 Dunphy Keep it original, Pete < |
Posted By: turningpoint84
Date 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/ ------------- Proud 1968 mustang owner and now http://www.correctcraftfan.com/diaries/details.asp?ID=6454&sort=&pagenum1" rel="nofollow - 1970 Mustang |
Posted By: GlassSeeker
Date 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???? ------------- This is the life |