High Performance Financing
 

I'm looking to buy a 2004 35' Executioner. I'd like to keep my business among members if I could. Is anyone doing financing on high performance? It seems to be a deal killer when you mention it. We have very good credit, so that's not a problem.
I looked in Finance and Insurance and didn't see anything, so I thought I'd throw it out here.
Thanks
Rich Troppoli

I found thru my dealer Citizens Bank out of Detroit, MI to be easy to use and rates were perfect. They are not on the boards here, just throwing the information out there. Financed our Fastech 353 thru them, no issues with "performance boat" at all.

I'm with citizens as well, another is GE credit union. GE seems to have a Lil bit better rates.

Jason Fox | Finance Specialist | o: 616.494.2628 | f: 616.494.2629
Coastal Financial [email protected]


- Jason is awesome, he got us with Citizens as well. He did all the paperwork and titling. It was effortless on our side.

Newcoast Financial was great. I forgot the guys name though.

Go back farther in the Insurance and Finance section. The default is to show only threads that are 10 days old and newer.

Thanks everyone. I'll start calling today.
Rich

X2 for Jason Fox at costal financial! He was very helpful and got me a great rate.

I just looked at his site and his rates are very good and it looks like he works with Jersey people.
a 2004 Hi Performance boat won't be a deal breaker, will it? I hear that all the time.

You would have to be eligible, but try USAA or PenFED. Never heard of USAA denying anybody on anything, and Penfed can be a pain but rates are the lowest out there and they approve just about anything. But in order to be a member you would have had to be a veteran or the child of a veteran

He just did my loan on a 99 sonic.

I got a loan last year through navyfedral credit union high performance was not an issue at all

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Do you know of any loans that would allow the moneys to be released as the boat is being built?

deposit 30%

when the hull is built, the bank would release 30%

when the motors arrive another 30%

ready to go out the door and on a trailer - 40%

I have never heard of that. cant see a bank doing that as a boat is not like a house, theres a lot more risk with a boat. A house is fixed is attached to land that is worth something, and houses being built is a much more controlled process. A boat getting built and its not finishes isnt worth anything if its just a hull.


Another option out there and I would not necessarily say this is the smartest idea and depends on what kind of money you are talking. But if you can pay some money down and do the rest on CC or personal loan, there is not any restrictions on that stuff, and its no questions asked. Personal loans can be had for around 8-9%, and credit cards you can get switch with 0% balance transfers, and what not. Slippery slope here, but if your smart I know people that use free money from the CC companies all the time.

Not sure a bank would pay out 130% on a boat. Sorry couldn't pass it up! Lol!

Try affinity credit union. They are in jersey and I had no problems financing a 15 year old cat through them. Finance rate at the time was 2.9%