Purchasing / Financing Questions

[ProAnglerWithoutABoat]

This is my first post here so let me say my username is meant strictly as a joke, ha ha, and Im happy to be here. Ive never owned a Bass Cat but Ive always admired them from the sidelines or the back when Ive had the pleasure of fishing from one. I sold my 17 2004 Ranger 175VS in 2009 due to financial reasons and my wife and I had a child the same year so needless to say, Ive been a little busy. I believe I have decided on purchasing another boat in the near future and I would love for it to be a Bass Cat given the recent issues with other manufacturers and their recent “policies” regarding customer service. I cant believe how Genmar has been doing its customers lately (off topic I know, but one reason why Im here and not there asking about this).1 – Will BCB finance new & used BC boats or allow a takeover of payments from a previous buyer?2 – What FICO / Credit Score is generally accepted for boat financing?3 – What are “standard” finance rates and lengths in todays market?3b – How does purchasing a used boat or “taking over payments” affect the terms?Im looking at purchasing a boat hopefully by the end of the year and these are questions i have about purchasing a boat. With boats costing more than I paid for my 2014 truck, it seems to me that a used boat would make a lot more sense for me anyway vs. buying a boat that is either smaller or another brand that I would not be happy with.I have owned 3 other boats (2 17 models from Ranger and Nitro and a Javelin 389 with a FICHT 175 which didnt last long…I know I know….the poor choices Ive made) but I didnt finance any of these, paid cash for all 3 and sold all 3 for cash so I have had absolutely no dealings with financing a boat on either end. I would like a larger boat but likely be unable to pay for it in cash all at once as I have with my other boats (prices are a bit more than those 3…combined….then doubled…ha ha!!!)FWIW – Im looking to put at least 10% down payment, looking to finance 84 mos. tops, would rather be in the 48-60 mos. range but that will depend on purchase price and what I can afford.Looking at the Sabre or the FTD model (has to fit in a 22 garage so Im limited on what will fit unfortunately). I know a P2/4 will fit but thats a little too tight for me.Thanks a ton for any help or advice!!

[Cajunhunter67]

Try this. Should get you started. http://www.bbcboards.net/boat-loans-ext … nties-101/

[Bass Cat Boats]

You definitely need to talk to Ken Lamain at REC Lending. Depending on what state you live in he may be to work with you. He is the best in the business and only does marine loans. [email protected] Both REC and BCB have a relationship.

[Bass Cat Boats]

Factory suggestions are 20% down, less than 7 years financing for most and credit scores generally in the 730 range easily float often debt to equity ratios are in line, plus both incomes usually help on financing. Out or area financing often is easiest, though load credit union is usually the best. Some use ompanies like State Farm Insurance for financing and local banks with a good working relationship is the most common.

[kent7351]

Since youre planning on buying used, I personally liked your old way of doing it. Paying cash and owning your boat outright is the way to go.

[ProAnglerWithoutABoat]

If I could afford it I would but Id like to get something a little newer and the past 4-5 years has put a hurt on the cash available around here…I wish I could and that may be the best option at the end of the day.

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