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powerqrudy 08-10-2012 11:53 AM

Boat Loan
 
Does anybody know where I can get a boat loan for a

1986 Formula all i need is 10k

Bank of America will ony go back as far as 20 years?

Thanks
Steve

lastcall02 08-10-2012 12:00 PM

Try a credit union. We went through Breezy Point Credit Union and did not have a problem, but our boat is a 2004. Credit Unions usually are easier for boat loans then a bank. Good luck.

POWERPLAY J 08-10-2012 12:11 PM

Yup. Credit union. I am through OUR CU in Royal Oak.

T-RAV 08-10-2012 12:59 PM

you could always do a signature loan on it.

powerqrudy 08-10-2012 01:05 PM

what is a Signature loan ?

Baja_342 08-10-2012 01:08 PM


Originally Posted by powerqrudy (Post 3750831)
what is a Signature loan ?

unsecured loan. Rates may be a little higher.

HELOC, Refi with cash back may be other options.

JWay 08-10-2012 01:29 PM

I am using Linda Ramirez at Essex credit corp.
Her number is 925-843-3119
Email is [email protected]
They give special rates if you are a Costco card holder. I am getting a 5.6% interest rate on a 1993 formula.

powerqrudy 08-10-2012 05:31 PM

Guys, i love it thanks i am going to call this Linda and Yes PowerPlay J ROCC has a great rate !

Royal Oak Community Credit Union for the common folk.

POWERPLAY J 08-10-2012 06:17 PM


Originally Posted by powerqrudy (Post 3750984)
Guys, i love it thanks i am going to call this Linda and Yes PowerPlay J ROCC has a great rate !

Royal Oak Community Credit Union for the common folk.

Cool! Yes it used to be ROCCU now it is OUR. I am very happy with the service and have moved all of my finances to them. Good luck and I am in Clawson now so if ya wanna meet up let me know.

Griff 08-10-2012 07:04 PM

If you don't have something you can use as collateral to borrow 10k or get it on a signature, then IMO you should not be buying a 26 year old boat.


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