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Jan 23rd, 2013
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Loan issues.. #12773140
05/29/18 06:02 PM
05/29/18 06:02 PM
Joined: Apr 2016
Posts: 215
D
dreamweaver96 Online content OP
Outdoorsman
dreamweaver96  Online Content OP
Outdoorsman
D

Joined: Apr 2016
Posts: 215
I'm wanting to get a bass boat. I went and talk to my credit union about a loan. They said they would only give me 9k because of my credit and income. My score is 690, but I'm only 21. I've got very good history, but my credit just isn't that old. My income, pre tax, is about 5k a month. Should I be getting a better loan or is this about right?

Re: Loan issues.. [Re: dreamweaver96] #12773155
05/29/18 06:14 PM
05/29/18 06:14 PM
Joined: Feb 2014
Posts: 4,269
Fort Worth
S
Smurfs Online content
TFF Team Angler
Smurfs  Online Content
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Joined: Feb 2014
Posts: 4,269
Fort Worth
You should save money and pay cash, borrower is slave to the lender! Sine you ask! bolt


Grandpa:
"Goats are for Muslim barbeque.
Is there some ethnic or religious that eats Llama?"
Re: Loan issues.. [Re: dreamweaver96] #12774016
05/30/18 03:18 PM
05/30/18 03:18 PM
Joined: Apr 2015
Posts: 6,674
Dallas
0
04champ Online content
TFF Celebrity
04champ  Online Content
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0

Joined: Apr 2015
Posts: 6,674
Dallas
Talk to a different credit union

Re: Loan issues.. [Re: dreamweaver96] #12774467
05/30/18 08:34 PM
05/30/18 08:34 PM
Joined: Aug 2009
Posts: 1,682
Van Alstyne
timbertoes Offline
Extreme Angler
timbertoes  Offline
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Joined: Aug 2009
Posts: 1,682
Van Alstyne
or use the 9k loan to build credit. You will need to build it one way or the other, eventually.
boats can be very very overrated when it comes to catching fish.

Re: Loan issues.. [Re: dreamweaver96] #12774502
05/30/18 09:01 PM
05/30/18 09:01 PM
Joined: Oct 2010
Posts: 354
reclending.com Offline
Angler
reclending.com  Offline
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Joined: Oct 2010
Posts: 354
Originally Posted By: dreamweaver96
I'm wanting to get a bass boat. I went and talk to my credit union about a loan. They said they would only give me 9k because of my credit and income. My score is 690, but I'm only 21. I've got very good history, but my credit just isn't that old. My income, pre tax, is about 5k a month. Should I be getting a better loan or is this about right?


You have what we call "young guy'itis". Credit score just tiers the rate, loan history is what is holding you up. Talking a $9,000 loan and paying it off in a year will build credit. NEVER, NEVER, NEVER make minimum payments. Pay additional and pay every month. A well placed and smart repayment is never the cause of money trouble. It's the little here, little there untraceable spending cash and not repaying credit cards that lead to trouble.
Taking a smaller loan to start, pay it down or off in a year and stepping up the ladder a bit next time - that's one option.
Let us know if we can help.
Thank you,
Ken


[Linked Image]

Ken Lamain
Office (517) 543-6921
Cell (517) 930-2721
Re: Loan issues.. [Re: timbertoes] #12788068
06/11/18 06:26 PM
06/11/18 06:26 PM
Joined: Jun 2008
Posts: 886
Lake Conroe
S
Stickchunker Offline
Pro Angler
Stickchunker  Offline
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Joined: Jun 2008
Posts: 886
Lake Conroe
Originally Posted By: timbertoes
or use the 9k loan to build credit. You will need to build it one way or the other, eventually.
boats can be very very overrated when it comes to catching fish.


You can get a dang nice boat for 9k if you shop around, may have to lower your expectations a little bit. I would probably let my current boat go for 9k without electronics.


Re: Loan issues.. [Re: dreamweaver96] #12788300
06/11/18 09:24 PM
06/11/18 09:24 PM
Joined: Jan 2005
Posts: 7,199
texas
R
redchevy Offline
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redchevy  Offline
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Joined: Jan 2005
Posts: 7,199
texas
I only had a credit card till I bought my first vehicle and had a credit score well into the 700's. You do not need a loan payed off or anything to have good credit, just make your payments and make them on time. You don't have to pay early you don't have to pay extra, but don't be late. If you up your down payment they will likely up how much they will lend you. My first truck was the first loan I had, it was 40k they originally offered to give me 15,000 dollar loan to buy a vehicle with 500 down or something like that. I said it wasn't enough and they said no way around it so I offered to put 10,000 down and they made it work.

Re: Loan issues.. [Re: Stickchunker] #12792884
06/15/18 02:16 PM
06/15/18 02:16 PM
Joined: Apr 2006
Posts: 114
Arlington
R
RPD Offline
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RPD  Offline
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R

Joined: Apr 2006
Posts: 114
Arlington
Originally Posted By: Stickchunker
Originally Posted By: timbertoes
or use the 9k loan to build credit. You will need to build it one way or the other, eventually.
boats can be very very overrated when it comes to catching fish.


You can get a dang nice boat for 9k if you shop around, may have to lower your expectations a little bit. I would probably let my current boat go for 9k without electronics.


This^^^^, I shopped around for well over 6 months and found a very clean Triton 186, it's a very nice boat that suits my needs. I've got 9K into this boat and have been very pleased with it. Take your time and 9K should get you a nice boat

Re: Loan issues.. [Re: dreamweaver96] #12799512
06/20/18 08:00 PM
06/20/18 08:00 PM
Joined: Apr 2008
Posts: 10,357
Jack County
JavelinJ Offline
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JavelinJ  Offline
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Joined: Apr 2008
Posts: 10,357
Jack County
I've got a boat that is very nice and in your price range!!!!


Re: Loan issues.. [Re: Smurfs] #12800465
06/21/18 03:51 PM
06/21/18 03:51 PM
Joined: Nov 2006
Posts: 2,525
N. Richland Hills,Texas
J
jwcromer Offline
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jwcromer  Offline
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Joined: Nov 2006
Posts: 2,525
N. Richland Hills,Texas
Originally Posted By: Smurfs
You should save money and pay cash, borrower is slave to the lender! Sine you ask! bolt
this x1000

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