New Boat

[Gnute]

I am ordering a boat from the factory. First time ever out of the 4 boats I have owned. I know I put the 10% down order. The issue is the lender(s) usually only hold loan for up to 45 days. Order can take up to 10 week, sometimes shorter or longer. What did you all do?

[kry29]

I don't think there's much you can do but wait. Wait until it's pretty close and get things started then when they get the serial numbers they can send them to the bank and finalize it all. Or you can wait and check the boat out when it gets tithe dealer before you do any paperwork. Your bank should be able to tell you all that

[tmoney]

Talk to Rec Lending here on the boards if you didn't already do your loan. I put nothing down with my particular dealer to order the boat, but told the lenders what I intended to put down upon delivery so I knew what the principal on the loan would end up being, along with my payments. When the boat came in, I had the dealer work directly with the lender, gave him the down payment and that was that.

Edit: Just realized you are ordering from the factory. Do they actually require 10% down?

[Gnute]

yes 10% unless I get 100% finance and have the lender send a letter to dealer stating loan is good for 100% and they will forgo the 10% and order the boat. I figured waiting until boat arrives was going to be an option. I don't mind putting 10% as a "deposit". Dealers finance guy says 45 days, that's cutting it close. I have PM'd rec lending and have had no response, but it has only been a day.

[hotrod]

You said ordering from the factory. Not a dealer involved ?

[Gnute]

I should clarified sorry. So the dealer is ordering from the factiry for me. Talks to their finance guy and he said same thing 45 days. After original post I finally received some calls back. Some small lenders will hold loan for 120 days, but rates a full point higher. So I am giving the 10% to order boat. And when boat comes in I will apply for loan and before I give check do he test ride in the new bird. Still trying to figure out colors. I have seen a lot no which one?

[Bassboater101]

I did the same thing as you and even though they put an extension on the regular application, I still had to redo it when the boat was completed. Nothing you can do about it and nothing changes. Also every dealer is different..I don't think I put any money down. The approval letter from my CU was good enough to let them know I was serious about ordering a boat.

[Gnute]

I am getting the 919 myself bassboater. Doing nothing special. The "stock" boat is way more than I have now. They said same thing a letter stating loan is good. I will juts wait until it's on the ground at dealership. It was done same day on my Triton.

[kry29]

You will get a final invoice when you order the boat so you will know exactly what you have to get a loan. About a week before it gets there the factory will have the serial numbers so you can get it started and won't have to make different trips to the dealer.

[Bassboater101]

I am getting the 919 myself bassboater. Doing nothing special. The "stock" boat is way more than I have now. They said same thing a letter stating loan is good. I will juts wait until it's on the ground at dealership. It was done same day on my Triton.

Congrats man you are going to love it

[vausoner]

[Birdboatman]

I told my bank that I was ordering the boat and at the time, it was taking 8 weeks and he said he would lock it in and all was good. Maybe I just got lucky!

[MJL]

Do what I did and pay it off in full upon delivery!

[Whiteboat]

Generally the dealer is going to want a 5-10% deposit to make sure you are serious about it before ordering boat.