Coast Guard Doc

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dwarren

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Looking to close on a 95 31' Carver. Have had many many boats in my time, most recently my 3207 Carver Aft.

My loan guy stated that I would have to pay 525 for USCG documentation, I've never done that before nor did I think it had become some new requirement.
 
Absolutely. The documentation is essentially the same as filing a mortgage. You won't be able to sell the boat through normal channels without that lien showing up.

US$500 is the right ballpark for cost. Annual renewals are free but the documentaiton service may offer to do it for a fee in the $50 to $100 range. Their argument is that they will not forget and subjuect you to another $500 fee to reestablish the documentation.
 
Some loan companies require a documentation service to do it, but if not you can do it yourself directly with the CG. The renewal definitely doesn't require a service as the CG sends you a renewal form well in advance and all you have to do is sign it and send it back unless there has been some change.

http://www.uscg.mil/hq/cg5/nvdc/
 
Documentation is required by most lenders for boats big enough to be documented

Actual cost is much smaller but you re paying for the service and the bank will want to make sure it s done correctly.

As to renewal, you wil receive a letter 2 month before annual expiration. Just sign it, and fax of mail it. Free. No reason to pay a service since the USCG Reno ds you anyway. And if you miss it, it s not $500 but $5 late fee
 
I prefer to handle my own documentation, but some lenders require a documentation service be used, so you may not have a choice.
 
I agree when I first financed my boat the lender required a service handle the documentation. However I did the renawls as Pascal and others have said you simply check the information and sign a single piece of paper. I'm still documented even though I paid off the loan at about 18 months.
Bill
 
quote:
Originally posted by Billylll

I agree when I first financed my boat the lender required a service handle the documentation. However I did the renawls as Pascal and others have said you simply check the information and sign a single piece of paper. I'm still documented even though I paid off the loan at about 18 months.
Bill

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Since the renewals are free (at least when you do it yourself) why not maintain CG documentation? The last thing I want are state numbers plastered on my bow.
 
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