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Anyone deal with them lately? Are they afraid of higher horsepower engines? Does it matter if its a Mercury racing product and not after market? Thanks.
 

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Try Long Beach credit union, I think thats one of the banks Essex uses. I dont know if they are still doing boat/rv loans.
 

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Essex is the Costco financing company for RV's and Boats.
https://www.essexcredit.com/costco/?source=849058&type=RV&Boat&keycode=CostcoWebsiteWhatsNew&sub_source=22&promocode=&Dest=homepage

I think they require FICO 700+; w2/pay stubs; tax returns past 2 yrs; 40% max debt to income ratio to get started.

In todays market the banks want SECURITY. They get security in different ways such as higher downs, less years, must document on 27'+ etc. The security will vary on the individual but you can bet no more sig loans and they will error in THEIR favor.

Newcoast also does high performance. Good Luck.
 

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The person to get in contact with at Essex Credit is Richard Tressler, Vice President, Retail Financing. His number is (866) 377-3948. If you want to try Newcoast, talk to Chris Lyons.
 

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Essex is the Costco financing company for RV's and Boats.
https://www.essexcredit.com/costco/?source=849058&type=RV&Boat&keycode=CostcoWebsiteWhatsNew&sub_source=22&promocode=&Dest=homepage

I think they require FICO 700+; w2/pay stubs; tax returns past 2 yrs; 40% max debt to income ratio to get started.

In todays market the banks want SECURITY. They get security in different ways such as higher downs, less years, must document on 27'+ etc. The security will vary on the individual but you can bet no more sig loans and they will error in THEIR favor.

Newcoast also does high performance. Good Luck.
You are correct, Banks almost wont even look you if you are maxed out on your debt to income ration, they want max 40% with suffient capital within your accounts to carry the note I believe for a min of 6 months.

It's probably a good thing but it really puts a damper on those that have the "GOTTA HAVE IT" attitude.
 

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Essex

I just used Richard at Essex. They basically did a sig loan for my Ultra 247XS just need 10% down. I filled out the application and that was it, instantly approved - no W-2's, tax returns, etc. Not sure on high HP boats. You might just try Bank of the West direct, that is who my loan is held by. Not sure if they carry anything in house or just broker deals.
 

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If you use essex. Be prepared to pay at least $1,000.00 for appraisel, document fees, additional Dmv document fees, fed ex charges. and a few other things. Bof A has 7,5% , no extra fees right now. apply on line.
 
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