WakezoneINS

I second this. I've seen many clients who are buying boats right now using local credit unions. I also spoke to the VP of Union Bank of Arizona and she said they will lend on any type of boat, where some of the bigger banks won't lend on performance boats. It's worth a try!

Nobody you know

Talkin with Kyle now, so, hopefully, I won't have to hit any other local banks. haha Will keep you posted in case any of you are having the same dilhema.

brian18330

I just overnighted the paperwork back to Chesapeake finanicail. Bought a 2000 Baja Outlaw 33 for 50k. Putting down $4900 and its 8.99 for 15 years. They put me with Wilmington Trust. I will share the whole experience once I close this week on the boat but I would definetly try them as he got the deal done.

Nobody you know

Good to hear Brian,
Thanks for the heads up. Keep me posted, I am definately interested in what happens. Best of luck to you.

Boats unlimited

Try State Farm insurance they also do bank loans as I have sent some of my boat buying customer over to them. They have been loaning to good credit scores. it has been tough to get any loans for boats done. Most of my loans are for under 35K. Hope this helps.

sean stinson

Dave Patnaude @ Essex Credit

www.essexcredit.com

WMF

Wilmington Trust is the biggest Joke of a Bank to deal with, I know from alot of experience!!!! I cant believe you got a boat loan out of them, its nothing personal towards you, they just recently screwed me over, Who did the loan??

brian18330

I never had any experience with them...I'm from PA. They approved it in a couple hours and only requested the survey,and income verification. Credit and income are extremely strong, they are loaning 50 on a 50k purchase price....I'm putting down 4900 in fees and taxes.(coast guard documentation, Gap ins. etc.). Like I said, they sent all the contracts and documents which I just overnighted back. Pretty much a done deal.

Baja_man

They would only approve 60% of value due to "high performance"......780 credit, income can be verified, 15% debt ratio.

WMF

Try Melaine Jolles at Scott Financial, thay will do 15% down on a High performance as long as the loan is over 50K Banks are very tough right now for Performance boat!!! Trust me.