I have never bought a used boat with a loan. I have always bought new with loan. i am looking at getting an otherwise possibly out of reach new boat for the same model a few years old with warranty still in place.....essential at a boat I really want used so at a lower price. Is the used boat loan based on NADA or a percentage of NADA?
Thank you
2018 Phoenix 919, Mercury 225 Pro XS
2016 Triton 179TrX, Mercury 115 4s
1995 Bass Tracker 175Pro, 40hp Force
1985 Bass Tracker 1800 Johnson 150 (I called it the lead sled)
Thank you for the question. Yes used loans are based on NADA. How the loan amount VS value is viewed varies with the lender. Some work from MSRP down and others from trade in value up. Each lender looks at add on differently as well. Nothing black and white, it changes by the lender and the program they run. The only common is that they all use NADA. How they use it changes.Originally Posted by Gnute
Let me know if we can help.
Thank you,
Ken
(517) 543-6921 - Office
Thank you
2018 Phoenix 919, Mercury 225 Pro XS
2016 Triton 179TrX, Mercury 115 4s
1995 Bass Tracker 175Pro, 40hp Force
1985 Bass Tracker 1800 Johnson 150 (I called it the lead sled)
I highly recommend using REC if your purchasing a boat... used or new.
I don't know who wall3315 is but I would guess he is very smart.
Thank you,
Ken
I don't know either but from all the hub bub around here he is correct. You guys have a great reputation.
2018 Phoenix 919, Mercury 225 Pro XS
2016 Triton 179TrX, Mercury 115 4s
1995 Bass Tracker 175Pro, 40hp Force
1985 Bass Tracker 1800 Johnson 150 (I called it the lead sled)
I don’t need to be smart cause I used REC to purchase my last boat several years ago... and will be calling soon to purchase my next/last boat.
Why are there so many of us who have purchased our next last boat more than once???
LOL
Happy fishing and be safe all.
Because something shiny come by.
We hear "last boat" often.
Thank you,
Ken
Every time I buy a new boat I think that's the last one... But seems like I am not the only one like this. Honestly, I became addicted and every day I update the latest models of boats. Due to this, two years ago I reached the point when I didn't manage to sell the previous boat, that's why I didn't have enough money to pay for the new one. So, because at that moment I have already started the process of purchasing that boat, I was looking for different options to get the necessary amount of money in a fast and safe way. Luckily, I came across https://credit-10.com/lv/moneza-kredits/, and I applied for a loan. After that experience, I decided that I will never buy anything until I have enough money.
Last edited by cowboyman; 05-17-2020 at 05:22 AM.
Probably a good idea to at least deal with companies that print in English.
Ken
Hey Ken what are your terms? is it 100% financing or is it 10% down? thanks
We are not a lender so we do not have any terms. Lenders set the terms and rates.
The only options financing full amounts right now are higher rates. Banks don't like risk and full
financing is all their risk.
Let me know,
Ken
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