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High-Performance Boat Financing Still "Extremely Limited"

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Old 04-05-2011, 10:59 AM
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Default High-Performance Boat Financing Still "Extremely Limited"

Still an uphill battle, http://speedonthewater.com/component...remely-limited.
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Old 04-05-2011, 11:45 AM
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V-hull's that run less than 100mph?? or did you mean over 100mph..
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Old 04-05-2011, 11:53 AM
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No Doubt Matt,
Just look at the auction boats on the market. Many do walk away. It is definitely bad for the guys who could make payments with 25 to 50 percent down.
Good Article.
Thanks
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Old 04-05-2011, 11:58 AM
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Still no problem with my credit union. Really pays off to have history with a particular branch and the manager if at all possible.

Will NEVER use Bank of America.
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Old 04-05-2011, 12:00 PM
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Quote:
Originally Posted by FunHome View Post
V-hull's that run less than 100mph?? or did you mean over 100mph..
Less than 100 mph.
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Old 04-05-2011, 12:23 PM
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Quote:
Originally Posted by fantastixvoyage View Post
Still no problem with my credit union. Really pays off to have history with a particular branch and the manager if at all possible.

Will NEVER use Bank of America.
+1

If you are in the market or will be in the market for a performance boat make friends with a local credit before you shop. Ours also does on the spot approvals.
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Old 04-05-2011, 12:24 PM
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Another impediment to lending on go-fast boats? Historically speaking, they make poor collateral for financial institutions, thanks to unscrupulous owners who, when facing default, strip the boats of their engines—and sell them—prior to repossession.
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Old 04-05-2011, 12:25 PM
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Good read..
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Old 04-05-2011, 12:32 PM
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I know some will disagree but I prefer to use home equity.

Clear title, lower rates, tax deductable interest.
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Old 04-05-2011, 01:20 PM
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No kidding. if i could get the loan i would have a 39 top gun in the driveway.
My credit union would do it but it has to be a california registered boat, ( not to many Cigs on this coast)
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