Future buyer

[44k1500fom]

I’m still new to the banking world.



i keep getting pre approval letters from the bank (credit union)for 20,000 dollars(car loan). I do know you still have to get approval but assuming with that letter and email I’m sure they will give me something close. Is that correct?

my big question is
will that translate to a boat loan at all. Like is there any confidents a boat loan from any lender will be somewhat close to 20,000$ (15,000 plus).

[reclending.com]

Thank you for the question.
My opinion is those letters are basically a solicitation just like anything else. If you think about it - how could a bank of CU extend a legitimate credit offer without knowing your credit history? Auto loans are generally lower rates than a toy (boat, RV). Some lenders are very aggressive in the auto loan business but not so much in boats. Some lenders do not do marine or RV loans at all.
Credit card companies extend offers all the time through the mail as well. I might be old fashioned but I don't remember when something that came in the mail triggered me to buy - especially a big ticket item. When it's time....it's time.
Let me know how we can help.
Thank you,
Ken

[44k1500fom]

Cool. Thanks for the answer. I kinda figured it was a advertisement. But it is my regular bank (va credit union) that’s what had me wondering. Thanks.