Selling a boat to a buyer getting a loan

[COCA COLA COWBOY]

Hi guys!

I have a buyer that wants to buy my boat, but he is getting a loan through America First Credit Union. He asked for a copy of the registration which I had not problems providing, but now he is asking for a PDF for the titles. Is this common procedure?

How do you or when do you hand over the boat without getting hurt? Is it possible to meet at the Credit Union and walk away with Cash? I'm just very leery of these things.

Thanks for your responses.

 

[Riverfamlee]

Hi guys!

I have a buyer that wants to buy my boat, but he is getting a loan through America First Credit Union. He asked for a copy of the registration which I had not problems providing, but now he is asking for a PDF for the titles. Is this common procedure?

How do you or when do you hand over the boat without getting hurt? Is it possible to meet at the Credit Union and walk away with Cash? I'm just very leery of these things.

Thanks for your responses.

I would deal directly with his credit union. We did a similar thing 2 boats ago but we were on the buying end . Our credit union set up a meeting with us and and the seller. He provided the docs and they cut him a check on the spot.

This was years ago

 

[dspracing]

I would deal directly with his credit union. We did a similar thing 2 boats ago but we were on the buying end . Our credit union set up a meeting with us and and the seller. He provided the docs and they cut him a check on the spot.

This was years ago

Agreed, if the request is not coming from the loan agent's mouth, I would be hesitant to send too much information. Don't let the boat go until the check clears.

I've had buyers get a check from their bank deposited directly into their account and the payment was on them. Other times the check has gone from the bank directly to me.

 

[COCA COLA COWBOY]

I would deal directly with his credit union. We did a similar thing 2 boats ago but we were on the buying end . Our credit union set up a meeting with us and and the seller. He provided the docs and they cut him a check on the spot.

This was years ago

Thanks for response. That’s what I was thinking.

 

[LuauLounge]

Deal Direct X2
I was the buyer for a year old Sea Doo with 2 hours on it. They had two of them and a 2 place trailer. The SeaDoo’s were financed as a single loan. I traded my single trailer, their trailer wasn’t financed and wrote a check payable to the seller AND the finance company.
Finance company released the one ski and sent the title to the seller, who forwarded it to me.
Was easier than it sounds, seller was legit, I wasn’t concerned other than I wanted everyone on the same page.

 

[oldschool]

I’ve dealt with America First a couple of times and they will ask for ALOT of info, to the point that you think they are fucking with you.

 

[was thatguy]

I’ve dealt with America First a couple of times and they will ask for ALOT of info, to the point that you think they are fucking with you.

I noticed that too.
They originally had the note for my car at the point of purchase, which I quickly transferred to my USAA account.
Dismissing them was paperwork heavy as well.

 

[bowtiejunkie]

It’s pretty standard request for a copy of title, in my experience. Possibly you can ask for the loan officer to email you direct. Most banks use a secure portal for customers to upload or email data. This way, the buyer doesn’t get a copy. My dealings have only been between family members, so I wasn’t concerned providing copy of title, etc.

 

[02HoWaRd26]

America First does ask a lot of both buyer and seller but they are awesome and o Ce they have the info they cut a check immediately. We used Lexis on the new to ya boat we had money in six hours start to finish, but the seller did stop what he was doing for a bit to get her everything she needed. I highly recommend her for people in either position of buying or selling.

 

[702sandman]

Sold my magic to a guy that was using America first here in henderson where I live and they did ask for a copy of the tittle and it went pretty smooth for the most part …the buyer was a little pissed when we both met at the branch they changed his loan Approval amount so he ended up having to use a credit card to pay the difference which I was able to accept to make the deal happen.. other than that they seemed easy to deal with from a sellers side. I was able to get the check directly from the loan lady he was dealing with so it was all up and up no problems

 

[Ace in the Hole]

Hi guys!

I have a buyer that wants to buy my boat, but he is getting a loan through America First Credit Union. He asked for a copy of the registration which I had not problems providing, but now he is asking for a PDF for the titles. Is this common procedure?

How do you or when do you hand over the boat without getting hurt? Is it possible to meet at the Credit Union and walk away with Cash? I'm just very leery of these things.

Thanks for your responses.

Yes it is common...credit union will wan front and back as would a normal bank. The people who bought our ski boat in Hawaii needed the same stuff at USAA...been through it before a couple times. you can likely send direct if you are worried about it...not much they can do with a pdf title.

 

[East Wood]

Sold my magic to a guy that was using America first here in henderson where I live and they did ask for a copy of the tittle and it went pretty smooth for the most part …the buyer was a little pissed when we both met at the branch they changed his loan Approval amount so he ended up having to use a credit card to pay the difference which I was able to accept to make the deal happen.. other than that they seemed easy to deal with from a sellers side. I was able to get the check directly from the loan lady he was dealing with so it was all up and up no problems

thats a new level of baller when you are able to personally accept the swipe of a credit card

 

[Outdrive1]

America First is not going to fuck you over. Just accommodate them, and they will FedEx a check.

You want difficult, deal with Essex or one of the other companies. They take three weeks to close sometimes and want a survey. America First is lightning fast.


Sent from my iPhone using Tapatalk

 

[was thatguy]

The only complaint I have with my AF dealing was their website after my purchase.
Before I switched the note over to my USAA I made a couple payments via the AF website and I found it to be a little burdensome to make my payment, and also they charged a $15 or $20 fee as I recall for each online payment.

But yeah, they are legit and aren’t going to do anything hokey with your paperwork.

 

[81Sprint]

I use AF for everything, usually have the best rates even beat USAA. Have been super easy to deal with buying and selling never had an issue

 

[farmo83]

When I bought my boat everything went through the credit union. The only thing I dealt with the seller on was pick up time. It was fairly painless as the seller still owed on the boat.

When my Dad bought his boat they wrote up an agreement and I believe the credit union notorized it.

 

[was thatguy]

I use AF for everything, usually have the best rates even beat USAA. Have been super easy to deal with buying and selling never had an issue

They were one point higher on my car loan than Usaa. But still very competitive.
But I’ve had a lot of vehicles and policies over the years with Usaa.
The only one that ever beat my Usaa rate was my triple A home insurance bundle.
Usaa could never get close to them.

 

[COCA COLA COWBOY]

Boat sold! Thanks guys!!!

 

[East Wood]

so was the process pretty easy through AF?

 

[gqchris]

Boat sold! Thanks guys!!!

Did you advise him here on RDP we NEVER Finance toys?!

Great news though, congrats on the sale!