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jason2130

NADA pricing on 2007 276ssx

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I was in the process of getting a loan on a 2007 276ssx with 425 merc with every option including arch captains call fridge ect. US Bank said that max loan value would be 40k deer using nada value. They said they use trade in value and will finance 110%. Most including this one are listed for above 60k deer. They also won't add In options unless it is a new boat. Am I missing something. I certainly do not want to over pay but can't find any better priced ones out there. Any suggestions?

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Consult a different bank or credit union. They should be using retail value, not wholesale/trade. Credit unions typically offer lower rates than banks.

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$40 is belOw market for sure. Seems a bank should loan more than that? You putting any money down or financing the whole deal?

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I paid 52k deer for my 2007 276SSX 3 years ago with 70 hrs on Volvo 8.1. No captains call. I tinkered with the thought of getting a new boat and one dealer offered me 50 and another 40. So a 40 trade in value may be in the ballpark.

HTH

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Price is right on a freshwater, with all the options, and the HO. I'd certainly check some other banks, and like someone else said consider a credit union. You can generally join a CU by opening up a savings account for $100.

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I found that Bank of America was the easiest to deal with... Quick turn around and used full market value for where the boat was located.

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I say run from US Bank no mater what you do. Use a local credit union. I couldn't beat the credit unions rate, not even with USAA.

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I found that Bank of America was the easiest to deal with... Quick turn around and used full market value for where the boat was located.

I work in financing for a dealer. I'm not sure what you mean by "turn around" or "easy to deal with." We get lending decisions from our lenders (75% of them are local credit unions) usually within 30 minutes. My personal credit union made it too easy to get a loan - they dropped the cash amount of my loan into my checking account after clicking on a few links in an email - I never had to set foot in a branch.

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Most banks will take NADA low retail before options and subtract 20%. Maybe a little less.

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After a frustrating search for a competitive rate and terms on a boat loan I found a company called Lightstream. They require excellent and substantial credit history and in return they gave me an online approval in 15 minutes and wired the funds into my account in 24 hours. The rates range from 1.9% to 6.6% dependent on amount and term. The max term is 7 years and these loans are unsecured meaning you retain title to the boat. I have been with them for thirteen months and it has been a pleasure.

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