I am looking at buying a boat buy the end of summer. I have a figure in my head of $13,000 as what I want to get a loan for. I have very great credit scores of high 700 to low 800's. I want to try to get payments in the $200 month range. Is this possible with a used boat. The boat I have seen that has my intrest peaked is a 2001 xpress x19 w/ a200 yami. Thanks for any info you can get me.
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Kevin R. »</td></tr><tr><td class="quote">I am looking at buying a boat buy the end of summer. I have a figure in my head of $13,000 as what I want to get a loan for. I have very great credit scores of high 700 to low 800's. I want to try to get payments in the $200 month range. Is this possible with a used boat. The boat I have seen that has my intrest peaked is a 2001 xpress x19 w/ a200 yami. Thanks for any info you can get me.
Thanks for the question. With only average credit, you should be good in that payment catigory. I just did a quick NADA on the boat. The price seems a bit strong but additional equipment will help get the value up. Let us know when you are ready.
Thanks,
Ken, Todd & Chris
The boat is at a marina as a consignment sell. I haven't talked to them yet but will try to lower it down. What does your nada book say is a good value on that boat? It doesnt look or is listed as any super dressed. It is well equiped with mid line electrics.
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Kevin R. »</td></tr><tr><td class="quote">The boat is at a marina as a consignment sell. I haven't talked to them yet but will try to lower it down. What does your nada book say is a good value on that boat? It doesnt look or is listed as any super dressed. It is well equiped with mid line electrics.</td></tr></table>
Just a quick look showed a retail value of about $12K. With that in mind, the banks would want top lend about $9K - $10K. Things like condition help sell it but really do not change the "book value" in the banks eyes. They just care about what they can get if they need to wholesale the thing. let us know if we can help you.
Ken, Todd & Chris
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Kevin R. »</td></tr><tr><td class="quote">I sent you an IM. Thanks!</td></tr></table>
I think I just answered that.
Thanks,
Ken
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by reclending.com »</td></tr><tr><td class="quote">
Thanks for the question. With only average credit, you should be good in that payment catigory. I just did a quick NADA on the boat. The price seems a bit strong but additional equipment will help get the value up. Let us know when you are ready.
Thanks,
Ken, Todd & Chris </td></tr></table>
What is considered average credit?
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by a 5 basslimit »</td></tr><tr><td class="quote">
What is considered average credit?
That answer was giver in relationship to a dollar amount and payment the "poster" was trying to fit. But for the question of "average" we see scores all over the board, some in the 400 class and some over 800. We have gotten loans done for people with scores in the mid 600's and had some turned down that were in the high 700's. Debt to income, loan to value, credit card debt, credit history...it all comes into play. No slam dunk number that works every time. Until you fill out an application we will not know. Our credit pull is "soft" so it does not show on the bureau. You will find an application at http://www.reclending.com . Once we have that, we will call for the SS # and go to work. We are ready when you are, Ken, Todd & Chris
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