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Old 05-27-2009, 04:36 PM
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Ok ... I am looking to take out a loan or finance a 91 ,40 hustler. Having trouble getting the loan for around 70,000. Have great credit but still seems nobody wants to give loans. I need a list of a few places that anyone knows that are giving loans in these tuff times. anyone know of marine loan specilists or banks that specialize in boat loans? HELP PLEASE.
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Old 05-27-2009, 04:42 PM
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It's the age of the boat that's going to make it tough for you. For 70k, it may be better to go heloc.
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Old 05-27-2009, 06:10 PM
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I recommend talking to a credit union. You might try Navy Federal Credit Union if you are eligible.
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Old 05-27-2009, 06:15 PM
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After almost a year of shopping boats and loans and insurance, and having at least one or all 3 cause some kind of de railing of the purchase, you better have all 3 in line before you pull the trigger on anything. The banks and insurance companies have re defined their definition of OLD as anything over 1o years.

The ONLY luck I have had is with a credit union. THere is the guy that works for yachtauctions.com. He is very helpful also, but he is limited on the age and values. They usually have to be pretty new, or old and really expensive. Excellent credit has to be a factor before they will look at you.

Check on insurance before you even worry about financing, to make sure you can get that at a reasonable rate before you start bothering the banks.

Good luck. It is tough to buy anything except new chit right now.
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Old 05-27-2009, 06:37 PM
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X 3 on your local credit union, My credit union did my 96 no problem late last year, And also I called them last week to see if they are still doing loans, And they said yes they are and they said they have no year limits at all at mine. And the average interest rate for good credit starts at 8.90% late last week. But I think you need to use one by you. Good luck.
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Old 05-27-2009, 06:41 PM
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I went through chesapeake financial and he got it done through wilmington trust within hours.
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Old 05-27-2009, 09:14 PM
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Try Kyle at Newcoast..Advertiser on OSO always came through for me
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Old 05-28-2009, 12:02 AM
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Quote:
Originally Posted by Donzi Corleone View Post
Try Kyle at Newcoast..Advertiser on OSO always came through for me
Hey, how is my old Donzi treating you?? havent herd from you in awhile or seen any pics of the boat! As for boat loans I have been thru everything, check the finance section, it will tell you everything!!
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Old 05-28-2009, 08:28 PM
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Put in on a new trailer torsion with mag wheels, buffed it out bow to stern. Put a new prop 24 Merc. the hole shot is there now and it runs 72 on the boats MPH gauge. Damn good looking boat everyone says and thats before they find out its a 01.
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Old 05-28-2009, 08:33 PM
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KeyBank.....or did they stop doing boat loans?
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