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  1. #1
    Registered phughes69's Avatar
    My Boats:
    1980 Wellcraft Scarab 377 twin turbo, 1984 Formula 242 LS SBC/ Alpha
    Join Date
    Dec 2001
    St. Clair Shores, MI

    used boat financing for an older boat

    who is a good resource to see regarding getting a 1980 scarab financed. I am having trouble finding anyone who will touch this boat based upon its age and it being a high performance model. I had a survey done and it is in above average condition, but the few banks that I have talked to say its fair market value is 1/2 of what the the asking price is, according to their books, but their numbers are also 1/2 of what the market is asking for this boat?


  2. #2
    Registered Monty's Avatar
    Join Date
    Jun 2003
    Park Ridge, IL/ Sheridan Beach, IN
    Have you tried Key Bank? They are pretty aggressive with boat loans and will usually finance older high-performance boats.

    If you can't get a boat loan, have you considered a home equity loan or home equity line of credit?

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