Newbie Purchasing a Used 23SSRXP

[Walter Kurtz]

If I find a used boat that say book for $50k and I pick it up for like $40k, can't the bank count that as my 10% down?

Demand for new and used inventory is sky high right now. I searched months to find anything remotely close to what we wanted and still couldn’t locate. The timing of our previous Benny sale and covid caught me off guard,. Had I known it would be this tuff I would’ve special ordered and kept the ol SX 20 for a few more months. Being boatless sucks lol. Come August we’ll be back on the water though. My advice if you can find something close to what you’re looking for and can sacrifice a few options here & there, snatch it up while you can

 

[DejaWiz]

Yip USAA is maxed at 35k loans. We just got Bank of the West 4.79 240 months 10% down. No early pen so will pay down a tad extra to principal as we go. The Arch is the way to go but we had to spec order the boat to get it. Closest boat with arch I found was SC Captains Choice 23SSBXPA with silver interior and 2fitty Vmax. Not sure if 2020 or 21 but she’s a beauty just too far to drive. Good luck

Is there a min financed amount that BotW wants to see for a 20 year note?

 

[SEMPERFI8387]

in our area, it’s a hot market. My dealer brought in 39 units (plus any specials). He’s down to 18 with 13 of those ”pending”. I can’t believe, with what’s been going on, he moved that many boats. I’m guessing financing must be a non issue right now.

 

[Walter Kurtz]

Is there a min financed amount that BotW wants to see for a 20 year note?

With BOW they have different rates and terms based on loan amounts and qualifications. All marine loans are through Essex here’s the link.
10% down is preferred over a certain amount (I believe 75k). We originally found a boat for 70k and Essex ok’d 5% down, but the boat was sold to someone else standing in the dealers showroom that day. Being 7 hours away does not help lol. The boat we ordered with trailer and options came to 90 and the bank asked for 10% min down.

Essex Credit, a division of Bank of the West - Essex Credit Marketing Site - Essex Credit

The nation's leading financial services firm offering the most flexible RV loans and boat loans packages in the business.

www.essexcredit.com

 

[MightyY]

I just picked up my pontoon from Captain's Choice 1.5 weeks ago! Seems like 90% of the boats on Lake Murray are pontoons.