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?
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.
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.
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.
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.
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.
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.
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!!!!!
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?
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..
Posting Permissions
Reply With Quote