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  1. #1
    Join Date
    Aug 2003

    Financing question

    How many years can you finance a boat. What do you guys have for number of years and interest rates??? Does price matter?? How about finance $50,000?? How about $80,000??? Never done it so I thought I would ask here..


  2. #2
    Registered Charmed1's Avatar
    My Boats:
    looking :)
    Join Date
    Feb 2001
    Lake Norman, NC
    15 - 20 years depending on the lender, interest rate depends on the lender and type of loan, fixed v. arm v. balloon. Amount really doesn't matter as far as I can tell. Hope this helped

  3. #3
    Join Date
    Aug 2003
    So what lenders can get me a 20 year deal???

  4. #4
    Registered hugetime1's Avatar
    My Boats:
    1997 hustler sport
    Join Date
    Jun 2003
    Lake George Area NY
    key bank has some of the best deals

  5. #5
    Registered formula1's Avatar
    My Boats:
    Formula 292-Sold! :(
    Join Date
    Apr 2001
    Southwest, FL
    Key Bank is a good bank to deal with. Usually, that's where the brokerage houses place loans. There are some great loan rates and terms out there now. Normally to get 20 years terms, you need to finance around a $100k or more. I do have a source that will do 20 years at $75k and above. Let me know if I can help you.

    Steve 540-288-2250

  6. #6
    Registered aTX427's Avatar
    My Boats:
    Fountain 42 Lightning - 700sci / #6 dry sump
    Join Date
    Jul 2001
    Austin, TX
    do you have the URL to Key Bank?

  7. #7
    Registered Playn's Avatar
    Join Date
    Jan 2001

  8. #8
    Registered Von Bongo's Avatar
    My Boats:
    1997 Cig Kevlar - powered by Boyd
    Join Date
    Dec 2001
    Iowa - Missouri
    Originally posted by Troutly
    I have had Key Bank on three of my boat loans, including my current loan. Nothing bad at all to say about them.

    I also did a re-fi through Essex Credit on one boat. Smooooooth and easy to deal with. Had the deal done in 4 hours. I think they can find financing on new boats, too. Call Jodi Brandon with Essex Credit at 866-377-3948, ext 7201. She is in Newport Beach so it be west coast time. See what she can do for you
    Boy how quickly they forget their friends

    Right now we have as low as 5.50 on loans over $70K up to 20 years. All depends on credit, down payment and so on...and we sell to the same people as Essex. BTW I used Jodi when I financed the Pantera and she did a great job. If she was here at LOTO I would offer her a job. After that I got us involved in the long term boat loan business and would be glad to talk to anyone about it.

    Just drop me a PM or an e-mail or call me at 573-348-2761 x 2471..Mike Alford

    Central Bank of Lake of the Ozarks


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