No one wants to finance a performance boat
02-25-2013, 09:56 AM
#32
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You will always have a difficult time financing something 15+ years old compared to something only a few years old. It would help everyone here if you let us know what kind of boat and how much. Even if you went another route, fill us in.
02-25-2013, 03:08 PM
#33
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4bus..... I don't take your comment personally. But I wasn't the one that started the thread. Just chimed in with my personal experience and frustration with the process. At this momment performance boating is on the back of my mind due to the 5 day old downstairs. The way I look at it is the longer I wait the longer and faster the boat is gonna be when I make my move! Most of these banks including us bank I tried. Essex was the bank that told me they stopped doing them in md because of like 60 repo boats in just a small area of md.
02-25-2013, 03:35 PM
#36
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March of 2012, i had a 800 EVEN score. and could not get financed through any of the big marine morgae places. owned house for 6 years, a boat for 5... bla bla bla. NEVER been turned down ONCE. I was in shock
called my local credit union, and over the phone and was approved for 100% of the book value on the boat..... I put down 16% or something and bought it.
called my local credit union, and over the phone and was approved for 100% of the book value on the boat..... I put down 16% or something and bought it.
02-27-2013, 08:04 PM
#38
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1998 Stiletto with Key Bank 4.9%, 10% down, no hassles, no survey (until insurance requested) back in October of 2012...took a little time but easy to deal with
02-27-2013, 09:51 PM
#39
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The guy I talked to there had a real attitude, maybe you had someone different.
