Since I have never purchased a boat of this price I haven't had experience with financing this amount of money. I do not own a home but have good credit, earn a quality living and have few expenses except, boat, truck, rent.
For my last boat I simply called my bank I have been with for twelve years and electronically sent a standard loan app and presto it was done. Granted that was significally less money than what I'm talking about now.
I was looking to get pre-approved to see what rate I could get at the boatus finance page and my application wouldn't get filed because I did not have enough assets. It seems to me that they needed me to have the equivalent of the loan requested and more in assets.
This is confusing to me b/c this is my first experience with a loan of this size (newer 280da, 290da price)
I've done a lot of calculations and on my income and expenses I can easily afford the payments why doesn't the finance company see that when they pull my credit etc?
If I have to own assets that total the price of the boat I'm looking at I think it may be a few years before I can even go near it.
Help me out b/c I'm pretty disappointed/confused.
For my last boat I simply called my bank I have been with for twelve years and electronically sent a standard loan app and presto it was done. Granted that was significally less money than what I'm talking about now.
I was looking to get pre-approved to see what rate I could get at the boatus finance page and my application wouldn't get filed because I did not have enough assets. It seems to me that they needed me to have the equivalent of the loan requested and more in assets.
This is confusing to me b/c this is my first experience with a loan of this size (newer 280da, 290da price)
I've done a lot of calculations and on my income and expenses I can easily afford the payments why doesn't the finance company see that when they pull my credit etc?
If I have to own assets that total the price of the boat I'm looking at I think it may be a few years before I can even go near it.
Help me out b/c I'm pretty disappointed/confused.