Financing

Started by Michael Tennant, October 09, 2015, 06:14:49 PM

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Michael Tennant

My bank says they only use NADA guides to finance boats. Since the Viper is not on those guides they cannot finance. I see that Rondar uses essex boat financing, does anyone know if they will do used boats as well?

Lee Shuckerow

Not sure. Maybe try a different bank? Anyone else had trouble with financing?
There should be no reason your bank wouldn't finance a used boat already in the states or Canada. There is a pretty decent record of boat new and used boat sales with a pretty decent resale value as well.
Jackpot  #235

Dan Tucker

We've helped with valuations on used boats for financing. Email me details at dan at rondarboats.com
Race it like you stole it.

Mike Baker

Hello ya'll....
I was checking in to see if there was any updated information about banks financing vipers?  I too have come across lenders only using Nada, which still does not show vipers.  Anyone have anything further on this?  Thanks!

Darren Gilbert

Are you looking in Canada or the US?
Formerly Black Sheep (#29), Black Sheep II (#194) and Black Sheep III (#106)

Mike Baker

I am in the US.... Thanks for any help you can throw at me

Peter Beardsley

Mike - drop Dan Tucker at Rondar a line - historically he is very familiar with these issues.  Let us know if you need his contact info.
Viper 640 East Coast Regional VP / Class Governor
Viper 333 "Glory Days"
Formerly Viper 269 "Great Scott!", Viper 222 "Ghost Panda" and Viper 161 "Vicious Panda"

Mike Baker

Thanks Peter... I will look him up at Rondar.

Craig Wilusz

HI , Mike.  I recently helped two individuals with financing, one was at his bank and the other was at his credit union.  It was a relatively simple process of valuations.  Craig
Craig and Deborah
#100 Myasasaur

Mike Baker

Thanks Craig...  I think my CU will use comps for value, and maybe information from Rondar as well.  I will let you know if I run across any hurdles.  Thanks for the help...