North of 8 - 10/18/2018 11:09 AM
tkuntz - 10/18/2018 10:59 AM
I have not found banks to be helpful at all in buying used boats or vehicles from private sellers. No problem getting financing from THE SAME BANK/CU through a dealer, however. It's a racket and should be illegal, but financial institutions love stacking the deck against you.
Curious why you think indirect lending should be illegal? Dealers have a better handle on the true value of used vehicles/boats and an awful lot of consumers want to get financing on the spot at the dealers. Last bank I worked for did not do much indirect because the profit margins are very thin and the number of dealers you can trust is also thin but I don't see anything about it that should be illegal.
