ryno726

Update: I was finally able to secure financing a few weeks back! Thanks to Tony and Valerie at Extreme Boat Sports and Pat at NWBS for being patient with me and knowing the right people to talk to. They have been awesome to work with. Ended up with Bank of the West like someone suggested earlier, but did not go direct to them for financing. If anyone is having trouble with comparable credit, they can message me. Boat is a demo, so it's slightly used, but still classified as new for financing When this rain lets up, I'll go pick our boat up in Merced!

I'm at work right now and can't type too much...Thanks for all the tips from everyone. I'm looking into one more option through the dealer and I'll go from there. If it doesn't work out, I'll take a step back and re-evaluate. Gator 808 is correct, new or used comp credit is still the issue. Travis, I will get in touch. Sounds like you come highly recommended

I'm in Palo Alto, California. That alone should answer any and all questions on why I am not buying a home LOL! My situation is definitely one of those scenarios where a home purchase is not going to benefit me in any way. -I live and work in Palo Alto. Homes here are completely out of control, very few upper middle class can qualify for a loan anywhere near where they work, and I refuse to commute long distance. Do you know what the property taxes are around here? More then my rent by a long shot! One could also argue the stability of the market in this area... -My rental situation is BEYOND ideal, and its a special situation where I'm not going anywhere for a while. -I've spent the last few years preparing financially for another boat (obviously this didn't include a gigantic down payment). Making sure everything else is in order. I've made the mistake of owning a boat when I shouldn't have and learned my lesson. -I don't want to put a huge cash payment down on the boat. With the proper term and rate I don't see the need. I know this can be argued for days, but for me it just works better to hang on to a bit of "cash" now, and deal with the small increase in payment and overall interest month to month. I've looked at used and new. And made a decision to get new. I'm very modest with the rest of my life, cars, motorcycles...nothing new or flashy, so I'm splurging on a boat. I have always love boating, so does my wife and our friends. I want all the fun stuff that comes with the new boats plus warranty...don't we all? Haha. It's an FS33 BTW

Thanks for the replies. I made some additional phone calls to Essex and Southeast Financial and they confirmed that comparable credit factors into their financing. I also called Bank of the West as suggested above. It looks a bit more promising, my local branch is making a few phone calls to potentially find out more. I bank with USbank, that was one of the original banks that turned me down through financemyboat.com It just sucks because the only way to have comp credit is to have bought a home, or an expensive car, neither of which helps me at this point. I did get one approval for 12 years at 6.9%, but I need way more cash for the down-like 25%. The loan isn't a huge deal as I could always refinance down the road (I wouldn't have to worry about that comp credit thing) but the extra down payment is going to be difficult.