Anyone have experience with a company that will finance an older boat (1992) and the amount financed would be under 20,000.00.
I have checked with two companies and one only handles loans above 35,000.00 and the other will not loan on that old of a boat. Any help would be greatly appreciated.
I’m assuming you are asking for my Fico score (had to do a search on the net for FICO to find out what it stood for)
To answer your question I do not know. It should be pretty good, I have never been late on a payment….. but have lived the American way so my debt to income ratio may be a little high.
Jeez I dont know anyone like that ... lolOriginally Posted by speedboatr
Your score is the first thing the banks want to see to borrow
I would always recommend Dave Patnaude from Essex Credit.
If it can be done, he's your guy !!
I would be able to help you on that. As the banks base their rates on the amount of the loan, you are going to be looking at rates in 9.0% - 11% range for that size of a loan for 120 mos. If that works for you, give me a call at 866-639-2627. Thanks.
9-11 % ?
Does that come with a jar of vaseline
amerifleet in va
Try your bank or a bank such as SunTrust. Boat loans are essentially RV loans in terms of payoff periods. Just call around and keep popping the question, you'll be surpised at what you might find. It doesn't necessarily have to be a "marine financer". Otherwise if you don't need a long term payoff period and can handle a decent payment, go with a conventioanal collateral loan of 4-7 years. You'll pay it off quicker that way too.
I HAVE NO TIME NOR THE INCLINATION TO EXPLAIN MYSELF TO THOSE WHO SLEEP UNDER THE BLANKET OF THE VERY FREEDOM THAT I PROVIDE, THEN QUESTIONS THE MANNER IN WHICH I PROVIDE IT - (A Few Good Men)
I wouldn't go 120 payments on a $20k note. You'll end up paying $7800 in interest at 7% and over $13k at 9%.
I'd try to get something in the 3-4 year range on that note size. Many personal loans will be available to you.
Alum Metal Fab
Custom Marine Sales
Dave's Custom Boats
Diamond Performance Parts
Double R Performance
Elton Porter Insurance
Fastboats Marine Group
GGB Exhaust Technologies
Grand Sports Center
Ilmor High Performance Marine
Lake Cumberland Marine
Lake Havasu Boat Show
Marine Technology Inc
McLeod Design Group
Performance Boat Center
Performance Marine Trading
Potter Performance Engines
Ron Sporl Performance
Speed and Custom Marine
Total Dollar Insurance
Teague Custom Marine
Wake Zone Marine Insurance
Young Performance Marine