Deposit made on 36DB

:) thanks, will probably order one new... planning a couple trips to NC lakes by the inlaws, but I would really like to haul it down to the keys one time :)

Its no 240SD, but would like to try the run to the bahamas one of these years :)
 
Would you believe I'm still working on this? I waited more than 4 weeks for my accountant's help and finally gave up on him. The dealer's lenders were too rigid and only able to use 07 an 08 earnings. I tried Digital Credit Union. What a scam that was. Their website advertises boat loans at 6.6% for 20 years. I applied online. They didn't ask for any tax forms. I had to give my info to some charity to become a member. I told them what I needed to borrow on the app. They pulled my credit AND THEN told me they only lend out up to 75% of your annual income and that I qualified for that. Why the hell would anyone finance that low of an amount for 20 years? Uh, this is an '09 36DB diesel with every option, 75% of my annual income would be a nice down payment. That information was all in the app. THANKS FOR KNOCKING 3 POINTS OFF MY CREDIT SCORE FOR NOTHING IDIOTS! Now some MF charity is going to harass me for donations.
So now, I'm dealing with Scott Financial Services. This is the last chance for getting the 36DB for the Nantucket trip in August.
 
Don't giving people your soc sec number so that they can pull your credit! When I worked with Julie @ EBoat Loans that was the very last thing we did. These loan people, who really know what they are doing, don't need to pull your credit. They are just being lazy.

Now you may suggest to your loan borker to look at a printed credit report you personally got from equifax, experian, & transunion. With that they can run the numbers, simply math, and come up with your income ratios (granted you show they your tax returns). And then they can figure out which lender they work with who will lend at those ratios, with the credit score you printed. They'll know 90% if you have a chance...and if they think, at this point, you have a chance then have your credit officially ran and go for it!

ALSO, you can also negotiate with them "If you run my credit and it doesn't qualify, I need you to write me a letter saying it was run by mistake so that I can submit that letter to remove the credit inquiry". This process will take 30-45 days for the agency's to remove.

Also, which credit agency did they run your credit at? If equifax you can dispute it (need to do it over the phone) and it will be removed the next day. Forget getting Experian or Transunion removed without a letter.

Hoepfully the people at Scott Financial know what they are doing...
 
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Scott financial are good people. If they can't get it done then look at it as a sign from above and just enjoy the beautiful boat you already own. Good luck. Brian
 
No go. Lenders want income verification from filed tax returns. Would not take this years YTD. Also want $50,000 to as much as 50% of the loan in liquid assets. Next year... Maybe used. Wetpaint's boat?
 
I will sell you my 36 bridge....and mine doesn't have any leaks like wetpaint's boat!!!
 
I think I'm soon to be a part of Mike's club, "turned down on a 36 SD deal". Trading up from a 290 with 20% down, 780 credit, 34% D/E (with new boat), and more than enough in 401K's to cover entire cost of the new boat. I'm hearing that they want SIGNIFICANT liquiditiy that isn't 401K money. I may be screwed.

At least we have a great 290 that we LOVE. By the way, after looking at a '09 270, we're TONS happier with our 290.
 
boughtabouy said:
I think I'm soon to be a part of Mike's club, "turned down on a 36 SD deal". Trading up from a 290 with 20% down, 780 credit, 34% D/E (with new boat), and more than enough in 401K's to cover entire cost of the new boat. I'm hearing that they want SIGNIFICANT liquiditiy that isn't 401K money. I may be screwed.

At least we have a great 290 that we LOVE. By the way, after looking at a '09 270, we're TONS happier with our 290.
Click to expand...

I gave up on the 36DB and bought a 330DA and I have to say, I couldn't be happier. The payment is $300 more a month than the 290, about half of what the 36DB payment would have been. There is plenty of room on this boat and more storage than we need. The canvas disappears in the floor and behind the sofa. It is HEAVY at the dock and at sea. With full tanks, this boat weighs 17,000# or at least 3 tons more than the 290. What a fabulous ride compared to the 290, which was a great riding boat. The canvas is a dream to rig. What a difference with side decks. The engine room is enormous enough to swallow up 2 beach chairs, 3 fishing rods, and the cockpit sunpad. This boat also screams with the 496s. I think about what the 36DB would be getting me and it would be more interior space and maybe a tiny bit better mileage and cheaper fuel by $0.50 per gallon. I have a 36DB a couple of slips down and I realize the canvas would be a bear, we would not be about to use the bow, and the bridge, being the only real outdoor space, would be cramped compared to the 330DA.
I'm glad I did not get the 36DB now. My cruise speed with the 330DA is 30-35mph. The 36DB would be 22-25mph. I can top out at 50 mph, the db would be 30mph. Everything happens for a reason. I love this 330DA.
 
Uh oh, Mike...

I talked to the finance guy today, and my sales guy. When I told them I was over it, they were SURPRISED, and said they thought they could get it done. I guess the bank is still asking questions, which is better than a denial letter. I understand that if it doesn't work out with this bank, there is another that is a little easier to work with. Sales guy is pretty confident, but... I think MM is trying to do it in house (probably to make a few bucks on the loan). I guess we'll see, but it sounds better than it did yesterday.

Now, the question is, do we want the boat now? We're over it, remember? We fell in love with the 290 again after seeing the 270. I really do love the 290, but with two kids born in March it's extremely tight. We've had them on the boat for 14 nights so far, and the cockpit is way too tight, with 2 bouncy seats occupying what little floor space there is. The cabin table has turned into a changing table, and the aft bed is full of their crap. I guess if it was just us two, we'd have just kept the 290. However, the two staterooms and all of the extra room on the 36DB will be great. We don't put on a lot of miles, as we don't get to the boat often enough. We so busy working that we enjoy just sitting at anchor all day, and the anchorage is only a couple miles from the marina. It will be used more like a condo for us, whether slipped, or at anchor.

I guess we'll see how it goes. If it wasn't meant to be, I guess it won't happen. We will probably end up with a used 330 or 340 if that's the case. Glad to hear you like yours so much.

Ciao,
 
boughtabouy said:
Uh oh, Mike...

I talked to the finance guy today, and my sales guy. When I told them I was over it, they were SURPRISED, and said they thought they could get it done. I guess the bank is still asking questions, which is better than a denial letter. I understand that if it doesn't work out with this bank, there is another that is a little easier to work with. Sales guy is pretty confident, but... I think MM is trying to do it in house (probably to make a few bucks on the loan). I guess we'll see, but it sounds better than it did yesterday.

Now, the question is, do we want the boat now? We're over it, remember? We fell in love with the 290 again after seeing the 270. I really do love the 290, but with two kids born in March it's extremely tight. We've had them on the boat for 14 nights so far, and the cockpit is way too tight, with 2 bouncy seats occupying what little floor space there is. The cabin table has turned into a changing table, and the aft bed is full of their crap. I guess if it was just us two, we'd have just kept the 290. However, the two staterooms and all of the extra room on the 36DB will be great. We don't put on a lot of miles, as we don't get to the boat often enough. We so busy working that we enjoy just sitting at anchor all day, and the anchorage is only a couple miles from the marina. It will be used more like a condo for us, whether slipped, or at anchor.

I guess we'll see how it goes. If it wasn't meant to be, I guess it won't happen. We will probably end up with a used 330 or 340 if that's the case. Glad to hear you like yours so much.

Ciao,
Click to expand...

I've seen a lot of pristine '07 gas 36DBs for ~$229,000.
 
JuliaValentine said:
I gave up on the 36DB and bought a 330DA and I have to say, I couldn't be happier. The payment is $300 more a month than the 290, about half of what the 36DB payment would have been. There is plenty of room on this boat and more storage than we need. The canvas disappears in the floor and behind the sofa. It is HEAVY at the dock and at sea. With full tanks, this boat weighs 17,000# or at least 3 tons more than the 290. What a fabulous ride compared to the 290, which was a great riding boat. The canvas is a dream to rig. What a difference with side decks. The engine room is enormous enough to swallow up 2 beach chairs, 3 fishing rods, and the cockpit sunpad. This boat also screams with the 496s. I think about what the 36DB would be getting me and it would be more interior space and maybe a tiny bit better mileage and cheaper fuel by $0.50 per gallon. I have a 36DB a couple of slips down and I realize the canvas would be a bear, we would not be about to use the bow, and the bridge, being the only real outdoor space, would be cramped compared to the 330DA.
I'm glad I did not get the 36DB now. My cruise speed with the 330DA is 30-35mph. The 36DB would be 22-25mph. I can top out at 50 mph, the db would be 30mph. Everything happens for a reason. I love this 330DA.
Click to expand...

Mike,

Not raining on your parade at all but just playing devil's advocate here :grin: I know you're happy with your purchase NOW at this point, but will you be in another 3 - 5 years (if you keep it that long)?

For me anyway, I thought my next boat would be a 33'/34' SD and then I saw the engine room access. While I'm sure I could make it work, the 37' SD is better, and the 40' and 41' are even better yet (ER access). While the engine room access is bigger for each, the layouts are also bigger as well. I think I would be happy short term with a 33'/34' but I'm unsure about long term for family/guest accomodation or entertaining.

What are your thoughts about upgrading again? How soon do you think this will hold you off? How do you feel about the ER access on the 330? Do you deep down really still want a bigger boat?

Just trying to see what your thought process was/is.

Doug
 
Loaded, with DSS, etc? Are we talking about a new $450K list price boat from MM? Or, is this a private party sale?
 
There are excellent deals to be had on >'03 generation 340DAs. That would be my next boat.
 
This was through Hyannis Marina which is a Sea Ray Dealer in MA. I looked from afar, so I don't know what options are on it. It did give sticker shock to the guys that were on the boat with me.
 
douglee25 said:
Mike,
will you be in another 3 - 5 years (if you keep it that long)?

What are your thoughts about upgrading again? How soon do you think this will hold you off? How do you feel about the ER access on the 330? Do you deep down really still want a bigger boat?
Click to expand...

Doug,
I see us being happy for another 3-5 years in this boat, leaning toward 5 years. The big test was this 9 day trip we are currently on. After 4 nights, we are completely satisfied with the space and storage. The same trip last year on the 290, we were in each other's way all the time, the head was too tight for showering, so we often opted for the shore facilities, and our stuff was all over the boat. This year EVERYTHING is stowed. We have plenty of room to move about, and the head is comfortable for showering. It is just the three of us most of the time. Occasionally, we have a few guests during the day, but never overnight. I love the payment vs. what the 36 would have been. I have no itis at this point, none. Seriously. I love this boat.
I think if I did get the loan on the 36DB, I'd have a bad case of buyer's remorse and wonder what the heck I was doing with a payment double what my current payment is on the 330.
 
JuliaValentine said:
Doug,
I see us being happy for another 3-5 years in this boat, leaning toward 5 years. The big test was this 9 day trip we are currently on. After 4 nights, we are completely satisfied with the space and storage. The same trip last year on the 290, we were in each other's way all the time, the head was too tight for showering, so we often opted for the shore facilities, and our stuff was all over the boat. This year EVERYTHING is stowed. We have plenty of room to move about, and the head is comfortable for showering. It is just the three of us most of the time. Occasionally, we have a few guests during the day, but never overnight. I love the payment vs. what the 36 would have been. I have no itis at this point, none. Seriously. I love this boat.
I think if I did get the loan on the 36DB, I'd have a bad case of buyer's remorse and wonder what the heck I was doing with a payment double what my current payment is on the 330.
Click to expand...

Thanks for the insight! Enjoy the boat!

Doug
 
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