r015

Looking at a DCB 26', 60K ,putting 1/2 down,credit union will do it, but like a care loan only 48-60 months.
Not really afforable when you can only use it 4 months of the year.
Can you actually get a boat loan with long term for a boat older than 5 years. Maybe get and appraisal?
Looking for ideas, wait another year and add another $15-20 out of 401K so balance isn't so much,but that doesn't help now.Could even dump $15-20 out of 401K on loan in a year,can't get to it now.

Makes more sense now why nice boats aren't selling.

Any thoughts or loans companies?

Thanks

Powerquest_Baby!!

Have you tried Key Bank?

Wildman_grafix

I am refinancing our 2000 with key now to get a better rate and pay it off soon.

They have no problem with whatever term ( I want shorter then they do).

But we owe on nothing, credit score is 836, and do pretty good combined. If you go with key, deal with the local branch, the call center has been stupid.

Btw
We have the current loan with key.

4bus

iTrader: (4)

Key bank! Just did my loan on the fountain. Make sure you go into a local office and apply with a loan officer, I made the mistake of doing it online....the 1-800 reps are horrible to deal with for closing preparation.

Also see here http://www.offshoreonly.com/forums/i...insurance.html

She approved me but couldn't write me because I was in NY, but i know they have branches in ohio.

Pete280

I am in the middle of purchasing through Trident funding, credit is in 800's, boat is 10 yrs old and only financing 29K so the rate is higher at 5.99% and term is 10yrs, I'll pay it off well before then


btw: a 401K loan should be your absolute last resort for a source of money, I would never do that for a boat loan. Lose your job and it has to be repaid immediately, may be hard to do without a job.

r015

Thanks for the heads up guys ,we have Key Banks, used them maybe 10 years ago,see what we can do.

Thanks for the heads up, wasn't taking a loan on my 401K even though you do pay yourself back,just taking a couple bucks out so NOT to have a payment or at least a smaller one.

WakezoneINS

IF you have US Bank in your state then call my cousin:

Jamie Jeka - Personal Banker
Downtown Oshkosh, WI Branch
Email: [email protected]
PH 920 424 4194
Fax 920 424 4121

JD Dearden

Key Bank!!! I was declined by 6 other credit unions and even key but in the end they came through.

Do you have equity in your home? If you do a refi is the easiest way....

I would try and avoid using the 401K with all the penalties...

r015

Thanks guys, thats a +4 on Key Bank,check it out and US Bank.

THE 288 KID

I no guys who have gotten 100% loan value on mid 1990's boats for 10-12 years at around 6% no appraisals, no surveys. Crazy stuff huh.