Buying a new Cat

[Tightrig 12]

Im in the process of buying a 2006 31 American Offshore.
Since i got scammed of 16,000 on my last purchase im a little sceptical of everything.
I just got financing approval thru "Essex Credit"
A subsiderary of "Bank of the West"
Has anyone done business with either of these companys ?
Thank you...any input would be appreciated.

[aggiestckl]

How’d you get screwed

[Tightrig 12]

Purchased a 26 Eliminator ......well i thought i purchased it till it didnt show show up.
"Ark Auto Consignors" its 6 people scam strong and in the hands of local law enforcement and FBI.

[Hot Shot Merc]

I used Bank of the West in 2005 when I bought a new 23 Baja Outlaw. Good experience until the economy schit the bed and it was reposed in 2009 :( My business was pretty much cut in half at that time. Was a bummer but whatever...I would use them again if they would put me in another new boat :thumbsup:.

I wouldn't buy a boat sight unseen. For a boat of that caliber I would fly to wherever it is and meet the owner and look at the boat etc before and type of transfer. Its worth the plane ticket and over night in a motel if you ask me.

[Tightrig 12]

I used Bank of the West in 2005 when I bought a new 23 Baja Outlaw. Good experience until the economy schit the bed and it was reposed in 2009 :( My business was pretty much cut in half at that time. Was a bummer but whatever...I would use them again if they would put me in another new boat :thumbsup:.

I wouldn't buy a boat sight unseen. For a boat of that caliber I would fly to wherever it is and meet the owner and look at the boat etc before and type of transfer. Its worth the plane ticket and over night in a motel if you ask me.

Yes... thank you so much for that info, makes me feel much better who im dealing with.
This time i plan on getting all the info requested to the bank (marine survey, purchase agreement, title copies, etc) then drive to view the boat....8 hr away.
If i approve the close the loan at an actual Bank of the West branch.
Still sceptical of wiring the $15,000 down payment.
B

[Tightrig 12]

When you bought your Baja did you go through Essex credit which is a subsidiary of Bank of the West

[moatorbotin]

Yes... thank you so much for that info, makes me feel much better who im dealing with.
This time i plan on getting all the info requested to the bank (marine survey, purchase agreement, title copies, etc) then drive to view the boat....8 hr away.
If i approve the close the loan at an actual Bank of the West branch.
Still sceptical of wiring the $15,000 down payment.
B

Why would you wire a downpayment?

So much of this thread and your previous thread about being ripped off make me question your decision making process and if you have money to burn!

Lessons i've recently learned. Go see the boat. Do not buy a boat sight unseen, you WILL end up disappointed. All boats look great in pictures. If they don't then they are REALLY rough.

I drove to florida to look at a boat, the boat wasn't as clean as I expected, I drove home.

I purchased a different boat out of state last year, borrowed the additional money I needed as a personal loan, from my CU, then inspected boat, paid for it, then refinanced the personal loan portion into a boat loan when I got back. Worked out great.

I sold that boat, buyer drove up from Louisiana, looked at the boat, then wired money to my CU while we both waited together in the lobby.

I'm halfway through a boat purchase now, I've looked at it in person twice (Grand Rapids area), sea trial is scheduled, I'll be bringing my cash and a check from my CU, it's through a broker instead of private sale, so no need for the personal loan and then the conversion, just simply having them cut a check for the balance I've decided to borrow i'll take right to the broker. If it goes well I'll tow it home, if it doesn't I'll take the check back and pay off any interest it cost me.

At the end of the day, if you're going to go spend 20, 30, 40, 50k on a boat, spend the time and the money to go make the deal happen in person, even if it means two trips to go and wrap everything up. Otherwise, you're just asking to get screwed again, whether it's a bad deal, or a boat that's not in the shape you expect.

[mrichartz]

Why would you wire a downpayment?

So much of this thread and your previous thread about being ripped off make me question your decision making process and if you have money to burn!

Lessons i've recently learned. Go see the boat. Do not buy a boat sight unseen, you WILL end up disappointed. All boats look great in pictures. If they don't then they are REALLY rough.

I drove to florida to look at a boat, the boat wasn't as clean as I expected, I drove home.

I purchased a different boat out of state last year, borrowed the additional money I needed as a personal loan, from my CU, then inspected boat, paid for it, then refinanced the personal loan portion into a boat loan when I got back. Worked out great.

I sold that boat, buyer drove up from Louisiana, looked at the boat, then wired money to my CU while we both waited together in the lobby.

I'm halfway through a boat purchase now, I've looked at it in person twice (Grand Rapids area), sea trial is scheduled, I'll be bringing my cash and a check from my CU, it's through a broker instead of private sale, so no need for the personal loan and then the conversion, just simply having them cut a check for the balance I've decided to borrow i'll take right to the broker. If it goes well I'll tow it home, if it doesn't I'll take the check back and pay off any interest it cost me.

At the end of the day, if you're going to go spend 20, 30, 40, 50k on a boat, spend the time and the money to go make the deal happen in person, even if it means two trips to go and wrap everything up. Otherwise, you're just asking to get screwed again, whether it's a bad deal, or a boat that's not in the shape you expect.

So you recently learned this good for you..
So your point here is to kick a guy when he's down?
Or were you offering advice for the next time...hope its that..
Lesson learned the hard way there are ****ed up greedy dishonest people in this world just sucks people didn't step up first to say something...he posted/asked about it before then when he got screwed people stepped up saying they got scammed
Allot if people got screwed by these scammers.

[Tightrig 12]

Thats why i said earlier that im driving to see the boat and then driving another 3 hrs to an actual Bank of the West branch to close the loan.
Plus i already have a survey on the boat in progress...ordered by the lender.
My origional question was has anyone done business with the 2 banks i mentioned.... Just wanted some feedback. and to answer your question...yes, ive learned my lesson but that doesnt mean i have to give up.
Money to burn... not really.
The money is gone and im moving on !
B

[blowitup]

My friend owns 31 awesome cat with outboards,does your have outboard on inboard?Pictures

[Tightrig 12]

My friend owns 31 awesome cat with outboards,does your have outboard on inboard?Pictures

Tein Merc 496 HO's

[moatorbotin]

So you recently learned this good for you..
So your point here is to kick a guy when he's down?
Or were you offering advice for the next time...hope its that..
Lesson learned the hard way there are ****ed up greedy dishonest people in this world just sucks people didn't step up first to say something...he posted/asked about it before then when he got screwed people stepped up saying they got scammed
Allot if people got screwed by these scammers.

i was in NO way kicking a guy while he was down, glad you saw it that way though.

simply offering some run down on borrowing from a bank to make his purchase and the processes I used. Was trying to help him do the deal in person without being screwed again.

[moatorbotin]

Thats why i said earlier that im driving to see the boat and then driving another 3 hrs to an actual Bank of the West branch to close the loan.
Plus i already have a survey on the boat in progress...ordered by the lender.
My origional question was has anyone done business with the 2 banks i mentioned.... Just wanted some feedback. and to answer your question...yes, ive learned my lesson but that doesnt mean i have to give up.
Money to burn... not really.
The money is gone and im moving on !
B
FYI, there’s an awesome cat for sale in ludington.

[Hot Shot Merc]

When you bought your Baja did you go through Essex credit which is a subsidiary of Bank of the WestNever heard of them and as far as I know they weren't together at that time however they could have been??? My payments were always written to Bank of the West.

[Tightrig 12]

Thanks Rob

[Tightrig 12]

Ludington Cat.....is it the 130mph white Eliminator ?

[moatorbotin]

Ludington Cat.....is it the 130mph white Eliminator ?

No, it's a multi colored crazy paint job "Awesome Cat" named "awesome pussy"

saw it on a few facebook groups. Someone aboved mentioned an Awesome 31 so thought you may have interest in one, and it's local.

[mrichartz]

i was in NO way kicking a guy while he was down, glad you saw it that way though.

simply offering some run down on borrowing from a bank to make his purchase and the processes I used. Was trying to help him do the deal in person without being screwed again.

That's why I was asking..im sure then hes glad to get more help...not personal..to make it clear because you start out questioning decision making and money to burn... it just sounded wrong(problem with posting text)
Not looking to start arguement etc..
The guy asked about a specific bank..
And he just got ****ed out if allot if $$$ doesn't need to be reminded..he's asking for help

And this is not directed towards you at all..general comment

But kind of ****ed up he posted and asked about it before he went to buy it and no one answered or replied..
But as soon as he posted get got scammed and screwed people come out with it's a scam and the boat was for sale before..
And all the other people who were scammed before finally stepped up..they literally used the same name so if they would have posted it it should come up as a scam..and they would have finally gotten busted

It's a fairly small community...and the scammers need to be weeded out whenever possible

[moatorbotin]

It's a fairly small community...and the scammers need to be weeded out whenever possible

Amen dude!

I found a boat I have been in love with since I first saw it here on scream and fly years ago, (it's changed hands since then, so I don't believe current owner is an S and F member, or at least not a currently active one) did a little research, engine builder told me to proceed with extreme caution, never got the requested pics I was after, decided the engine builder probably wasn't blowing smoke up my ass and stopped pursuing it.......if I ever see anyone looking to buy said boat I'd offer them a word of caution at the least.

It saddens me (and has for years) how many shady people are in our small community.

[mrichartz]

Amen dude!

I found a boat I have been in love with since I first saw it here on scream and fly years ago, (it's changed hands since then, so I don't believe current owner is an S and F member, or at least not a currently active one) did a little research, engine builder told me to proceed with extreme caution, never got the requested pics I was after, decided the engine builder probably wasn't blowing smoke up my ass and stopped pursuing it.......if I ever see anyone looking to buy said boat I'd offer them a word of caution at the least.

It saddens me (and has for years) how many shady people are in our small community.

That sucks!!
Did you ever get any pics of the boat? So we can see it and watch for it

[moatorbotin]

That sucks!!
Did you ever get any pics of the boat? So we can see it and watch for it
Yes, I dug up tons of photo's of the boat.

Here's the thing, I don't know if the guy is a bad dude or not, but coupled with the warning I got from the most recent engine builder, and his inability to follow through with pics I moved on. I don't feel that's enough to throw the guy under the bus or not at this point. He seemed nice enough on the phone, but it wasn't worth the risk/expense of a flight to go check it out, etc.

[mrichartz]

Yes, I dug up tons of photo's of the boat.

Here's the thing, I don't know if the guy is a bad dude or not, but coupled with the warning I got from the most recent engine builder, and his inability to follow through with pics I moved on. I don't feel that's enough to throw the guy under the bus or not at this point. He seemed nice enough on the phone, but it wasn't worth the risk/expense of a flight to go check it out, etc.

Oh ok makes sense ...might just be lazy..lol

[davemvegas]

So you recently learned this good for you..
So your point here is to kick a guy when he's down?
Or were you offering advice for the next time...hope its that..
Lesson learned the hard way there are ****ed up greedy dishonest people in this world just sucks people didn't step up first to say something...he posted/asked about it before then when he got screwed people stepped up saying they got scammed
Allot if people got screwed by these scammers.



Yes... thank you so much for that info, makes me feel much better who im dealing with.
This time i plan on getting all the info requested to the bank (marine survey, purchase agreement, title copies, etc) then drive to view the boat....8 hr away.
If i approve the close the loan at an actual Bank of the West branch.
Still sceptical of wiring the $15,000 down payment.


mirchartz. In your rant i think you overlooked the "still sceptical of wiring the $15,000 down payment"
That is the point i got from "moatorbotin" reply to Tightrig 12. No reason to pay a down payment until you actually buying the boat. Wire 15k to some sellers. Decline on boat purchase after seeing boat in person. At that point the seller may say downpayment is implied buyer agreement. Long process to go thru court is get a 15k judgement that is never going to be paid.

[Tightrig 12]

The boat im buying is still owned by Bank of America. The down payment is the 20% of the purchase price. It will be in cashiers check form made out to Bank of America
Not wiring money to anyone !.......Again !:nonod:

[mrichartz]

I had talked to B earlier knew he wasn't wiring money this time thats why.
It was just miscommunication etc..
But I can see reading it how it looks like he was going to wire money..






QUOTE=davemvegas;3121075]mirchartz. In your rant i think you overlooked the "still sceptical of wiring the $15,000 down payment"
That is the point i got from "moatorbotin" reply to Tightrig 12. No reason to pay a down payment until you actually buying the boat. Wire 15k to some sellers. Decline on boat purchase after seeing boat in person. At that point the seller may say downpayment is implied buyer agreement. Long process to go thru court is get a 15k judgement that is never going to be paid.[/QUOTE]

[Tightrig 12]

Never heard of them and as far as I know they weren't together at that time however they could have been??? My payments were always written to Bank of the West.

Once loan is processed i will make payments to Bank of the West ad well