PDA

View Full Version : Essex Credit Union.



NOTALENT
09-01-2004, 06:38 AM
Just wondering...for people who used them..how much did they charge you fro your processing fee's???? they charged me 650.00 does this seem right?

PHX ATC
09-01-2004, 11:08 AM
For a boat loan?
Seems a little high, I don't remember paying any processing fees at all. Then again, I might of not paid too much attention.
I looked...none.
Call them up and ask what it is for? What does it take care of? Overnight fees, document prep, copier charges, they are all worth about $5, not $650. Then again, they could have some bizarre item they charge for.

Steamin' Rice
09-01-2004, 11:54 AM
Are they also having the boat documented through the coast guard? I believe that some lenders require coast guard documentation for boats that they finance, and there are some fees associated with that.

KACHINA KEN
09-01-2004, 12:17 PM
Just now I got a FED EX with my re-fi papers from Essex. I am paying $465 to re-fi and I dropped almost 3 points so they saved me $85 bucks a month on my loan. Yeah, it's worth it.

Boat Loan Guy
09-01-2004, 12:19 PM
some lenders require coast guard documentation for boats that they finance, and there are some fees associated with that.
That is correct, the documentation fee for boats regisitered with the coast guard runs about 450 dollars. There are 2 companys that I know of that do documentation in so cal.
As far as charging for the boat loan, yes this common. We charge and I know that Exxess charges too. If you purchase a boat through a dealer and they use banks they are set up with like Bank of America or Key bank then there are know additonal fees. If the Dealership is not set up with any of these banks and they send the deals to outside finance companys then more than likely you will be paying a fee.
If you as a customer go directly to a Finance company like Exxess or are company then there will be a charge for processing the loan.
I am not sure about any of the on line companys that offer loans if they charge.

NOTALENT
09-01-2004, 01:24 PM
I guess I will have to check it all out..$20,000.00 loan..Boat is being bought from AZ, regiestered as AZ, and the trailer is boat CA/AZ. That just seems like alot for processing.

KACHINA KEN
09-01-2004, 01:54 PM
some lenders require coast guard documentation for boats that they finance, and there are some fees associated with that.
That is correct, the documentation fee for boats regisitered with the coast guard runs about 450 dollars. There are 2 companys that I know of that do documentation in so cal.
As far as charging for the boat loan, yes this common. We charge and I know that Exxess charges too. If you purchase a boat through a dealer and they use banks they are set up with like Bank of America or Key bank then there are know additonal fees. If the Dealership is not set up with any of these banks and they send the deals to outside finance companys then more than likely you will be paying a fee.
If you as a customer go directly to a Finance company like Exxess or are company then there will be a charge for processing the loan.
I am not sure about any of the on line companys that offer loans if they charge.
BTW THANKS AGAIN CHRIS, MELLISA ROCKS.

KACHINA KEN
09-01-2004, 01:55 PM
I guess I will have to check it all out..$20,000.00 loan..Boat is being bought from AZ, regiestered as AZ, and the trailer is boat CA/AZ. That just seems like alot for processing.
Suck it up son, people are watching. Besides, you are back on the water!!!!! ;)

RiverRatRusty
09-01-2004, 02:07 PM
I guess I will have to check it all out..$20,000.00 loan..Boat is being bought from AZ, regiestered as AZ, and the trailer is boat CA/AZ. That just seems like alot for processing.
I got a question about the whole AZ boat / CA trailer thing. My boat is registered in AZ (saved on taxes) and my trailer in CA. With this setup has anyone had problems on CA waterways or other inland lakes that are only in CA? Does a lake have the right to not let you on the water with an out of state boat if your place of residence does not match your boat reg?

Boat Loan Guy
09-01-2004, 02:14 PM
KACHINA KEN
I work with Melisa on a regular basis, she is great person to work with. We have good laughs about some of the stuff we see and hear..If you talk with her soon tell her I said Hi..

NOTALENT
09-02-2004, 07:23 AM
Suck it up son, people are watching. Besides, you are back on the water!!!!! ;)
OH...I Did..I am stoked..that I was finally able to afford this boat...I Love it..Be in havasu all this weekend leaving at 2:30 today..Be drunk and in the pool by 8:00pm. :rollside:

Scream
09-02-2004, 07:32 AM
I got a question about the whole AZ boat / CA trailer thing. My boat is registered in AZ (saved on taxes) and my trailer in CA. With this setup has anyone had problems on CA waterways or other inland lakes that are only in CA? Does a lake have the right to not let you on the water with an out of state boat if your place of residence does not match your boat reg?
According to peeps I've talked to about this subject, You'll save yourself a lot of hassle by having a trailer licensed in CA and your boat in AZ if you're towing with a vehicle from CA. CHP and AZHP (?) don't really care about the boat, they're not concerned, only about the rubber that hits the road and where it's from. If you had a Tow Veh from Ca and a trailer from AZ, then they'd want to check you out for various reasons, tax evasion not withstanding. The law states that you have to register your vehicle (trailer included) within a short period of time of bringing it into the state. The boat on the other hand must be registered in the state of primary use (more than 50% of the time).
If the boat is registered, regardless of the state, it is legal. Some boats are documented and have no CA,AZ, UT numbers on them, and they are legal, however they are also subject to random and frequent boardings and inspections. You should be fine with the setup you have.
Scream

NOTALENT
09-02-2004, 07:37 AM
That is why I had my trailer registered for both AZ and CA.. I didnt want to have any hassles from cops..