Clay Washington

I talked with my finance officer and got some bad news. They will only loan 90% of "low retail". The NADA "low retail" on a 1990 Bullet with 500hp engines is $56,900. 90% is $51,200. That leaves me with over $10,000 to make up, and I can't do that.

Thanks anyway guys...

lucky strike

We have a Bullet for sale 1989 1- owner kept high & dry since new here in Miami. $ 49,900......... Make us an offer ! 454's Bravos....... Low hrs.

Clay Washington

NADA "low retail" is $37,370. That's my offer. sorry...

thedonz

sorry for the news bud

jr mike

Smitty

Maybe if you showed your "finance officer" some of the Claymates, maybe they would be more flexible!!!

Sounds to me like this finance company is not working in your favor ???

Good Luck !!!

Clay Washington

Thanks. I totally understand the 90% loan-to-value policy. I just want the "value" to be what is stated on the survey... not what NADA says...

oh well...

H20 Toie

Just work some more OT and you will have the ten grand. Problem solved

Andy0331

Have you talked to Dave Patnaude at Essex Credit? He has helped me & several other members of the board.

http://www.offshoreonly.com/forums/s...ad.php?t=95112

A quote: "BUYING A BOAT FOR $100k THAT HAS A BOOK VALUE OF $50k: Most Banks want to loan 80% of what the current wholesale value of any used boat. The only way to get around this to have a Marine Surveyor survey the boat and if the Survey says the current value is $100k, then most times the bank will take that value as the benchmark and not the wholesale book value."

29scarab

My boats still looking good huh!!!

Clay Washington

Yep! My "dream boat" would be a Cig, so I'm gonna try that first. But, I haven't forgotten about your boat.