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JWBurns

Financing question

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JWBurns

To the guys who purchased their boat weather from a dealer or individual..

Where did you get your financing done? Local bank, credit union?

I'm going to look at a used boat from an individual seller this week, and I want to go get pre-approved.

Thanks in advance

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Scott N

I don't know if it's the same for boat financing at dealerships, but auto financing at dealerships is not always the best option because they mark up the interest rates. So they make their margin on the car and on the sale of the loan.

I prefer to use my credit union when I can and have never had the dealership beat the credit union rates. I have bought and sold roughly 10 cars in the past 12 years. Yeah, I like cars... :)

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Armyguy

I just financed mine with USAA but you have to be military. I took out 35k and the let me do it for 15yrs at 5.9% but I have really good credit. Shop around. My local boat dealer was gonna give me the same rate if I bought through them but I bought from a private owner instead since I bought used.

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JWBurns

My credit union is currently in conservatorship.. so I'm not sure how much they are currently lending right now.

My local dealer mentioned to me yesterday that they are seeing (on new Malibu purchases) 180 months @ 4.25% for excellent credit. That also includes 10% down.

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Armyguy

That is a great deal. My credit is excellent and even with that and a large down 5.9 is as cheap as they were financing for ANYONE with top notch credit. If you have the money to buy new..that is definetely the way to go. You get a new boat that you know the history of(because there is none) as well as warranty. Plus with all of the updated stuff on the new boats it is well worth it. I only bought a used one for now so I can get on the water. I am waiting to see if Malibu comes out with the rumored "surf edition" and then I will be trading mine in. If it wasnt for that reason alone, I would have just ordered a brand new VLX EXACTLY the way I want it.

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JWBurns

That is a great deal. My credit is excellent and even with that and a large down 5.9 is as cheap as they were financing for ANYONE with top notch credit. If you have the money to buy new..that is definetely the way to go. You get a new boat that you know the history of(because there is none) as well as warranty. Plus with all of the updated stuff on the new boats it is well worth it. I only bought a used one for now so I can get on the water. I am waiting to see if Malibu comes out with the rumored "surf edition" and then I will be trading mine in. If it wasnt for that reason alone, I would have just ordered a brand new VLX EXACTLY the way I want it.

I absolutely love the new models, but that price tag scares me, and my wife, away. It's amazing to see how well Malibu Boats hold their value. Climbed all through a 2012 LSV23 yesterday at my dealer, and just fell in love. The 77K sticker though :(

I'd really like an LSV23, but I'm looking at a V-Ride this week. The late year and price of the ride entices me, but my wife has yet to climb inside both to get a feel for the extra room the 23 offers. I think once she sees the more spacious interior, she'll be more inclined to get the 23. For the money we spend on these things, I just want to be absolutely happy every time I write a check for that boat loan.. no regrets, ya know?

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83greentoy

I had a '10 V-ride and just Bought a LSV '12 you will not regret the LSV, the ride is nice but the LSV is WAY nicer. With interest rates low lock into something you are going to be happy with every time you use it for a long time.

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saidainc

We made 12k on our 2007 Supreme V232 trade to the Malibu dealership and that went towards the total price of 78k. I looked at AAFES but they dont deal with Malibu so I went to a local bank where my average credit got 7.2%

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jrad12381

I used US bank and got a 4.49% with no fees. BofA afford the same loan but with a few hundred in fees. This was 2 months ago.

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JWBurns

I had a '10 V-ride and just Bought a LSV '12 you will not regret the LSV, the ride is nice but the LSV is WAY nicer. With interest rates low lock into something you are going to be happy with every time you use it for a long time.

This is exactly what I'm thinking.

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Sride

I'd really like an LSV23, but I'm looking at a V-Ride this week. The late year and price of the ride entices me, but my wife has yet to climb inside both to get a feel for the extra room the 23 offers. I think once she sees the more spacious interior, she'll be more inclined to get the 23. For the money we spend on these things, I just want to be absolutely happy every time I write a check for that boat loan.. no regrets, ya know?

I purchased a 2011 vRide 23 last year. Shoot me a message if you have any additional questions, but I couldn't be happier with the boat and its performance for the price. Yes, you do not have the newest hull or the electronic wizardry of the WS, but its a great value.

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JWBurns

I purchased a 2011 vRide 23 last year. Shoot me a message if you have any additional questions, but I couldn't be happier with the boat and its performance for the price. Yes, you do not have the newest hull or the electronic wizardry of the WS, but its a great value.

I'm definitely not too particular about the hull design.. I seriously doubt I'd be able to tell a difference between the LSV and Ride hull. Also not real particular about the electronics. As I see it, it just seems like more stuff that can break to me, however cool the touchscreen stuff may be.

I bet you love the extra room in the 23 footer eh Sride? I just was a roomy boat for all my crew, and to be able to surf and board at will.

From what I'm seeing on the market.. 2010 21 foot V-ride's are in the 52k range, and the LSV23's are about 10k more. So safe to assume the 23 rides are 55k maybe? Just not many of those on the market right now.

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Gaffster01

If your looking at a Vride you might want to look at an Axis. You can get a loaded one for 57k. Just another option. You will be well severed either way.

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DragonBottom

I recently bought a new 21 ride for 47K fully loaded with a trailer - People are getting more for used boats than you can get a new one from the dealer -

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Armyguy

I dont understand that. I saw some 2 year old VLX's and LSV's going for the same price as a brand new one. People are high....

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foiler1

if you have good credit,negotiate a price, give them a deposit then shop rates

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Soon2BV

i got a great deal with a local credit union. I wasn't a member at the time, so I had to join ($5 to a savings account).

Very good deal and easy to work with.

I ended up using them for my daughter's car last summer also.

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JWBurns

If your looking at a Vride you might want to look at an Axis. You can get a loaded one for 57k. Just another option. You will be well severed either way.

I'm definitely not a fan of the Axis. Almost too "simplistic" for me, if that makes sense? Not knocking the boat, just not my style

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JWBurns

if you have good credit,negotiate a price, give them a deposit then shop rates

Not sure i want a brand new boat. The used vs new prices here in the Dallas market are wide, used are no were near close to new prices.

I'll feel my current credit union out, and if not, I'll go elsewhere. I have excellent credit, so it shouldn't be an issue. Now finding the boat that's right for my family - that's a different story. Thanks to all for the input.

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Armyguy

There is a SUPER nice 23lsv for sale in Dallas,Tx right now...might wanna take a look. It has a bad a$$ wetsounds stereo already in in too. Beautiful color scheme as well with only 160 hours. I would have bought it but a 23lsv will not fit in my garage where I am living right now.

https://www.onlyinbo...s.aspx?ID=30203

Edited by Armyguy

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JWBurns

There is a SUPER nice 23lsv for sale in Dallas,Tx right now...might wanna take a look. It has a bad a$$ wetsounds stereo already in in too. Beautiful color scheme as well with only 160 hours. I would have bought it but a 23lsv will not fit in my garage where I am living right now.

https://www.onlyinbo...s.aspx?ID=30203

Is that link current? When I search for Malibu and Texas, I only see about 8 listings and that LSV is not on it.

Edit: nevermind, I found it

Edited by JWBurns

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Kiwionsnow

Momma`s rules............... no cashy no boaty. no financing toys in this house hold.

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gslinger

Going through my credit union on possible purchase of 2012 mxz. 2.99% for 180 mo.

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JWBurns

Going through my credit union on possible purchase of 2012 mxz. 2.99% for 180 mo.

Very nice, which state are you in?

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Lakenut

"My local dealer mentioned to me yesterday that they are seeing (on new Malibu purchases) 180 months @ 4.25% for excellent credit. That also includes 10% down."

"That is a great deal."

On a 75K boat w/10K down, you are paying over 23k in intrest. How is that a great deal? The intrest on that boat is almost what I paid for mine.

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