Financing ideas please
 

Looking to get some financing on an older hi Perf boat maybe 2003-2006. I talked to number coast and they told me after they could finance anything the broker said to well unwed to be looking at 2008 and up. The boat I want I don't want to pay that kind of money , anyone have any ideas who does older boats in the 100 k area thanks

Optimally, a home equity line.
If that's not an option most members have had great luck with local credit unions

Join a local credit union

I recently used Essex. Completed initial stuff online, then signed off via UPS package. Two days later, Pier 57 had their money. Pretty easy. 4.39%.

Jim Pena | RV Loan Consultant | Essex Credit Division
NMLS # 565687
12677 Alcosta Blvd., Suite 400 | San Ramon, CA 94583
 Work: 925.843.3195 |  Fax: 402.918.7639 TTY/TDD: 1-800-659-5495
 [email protected]| Mail Code: NC-B15-4J-A

Ed Champion at Lake Ozark Marine has a lender willing to go back to 1997. Might check with him

Lightstream if you have good credit

If there is a Key bank in your area I highly recommend them. Local credit unions is also a good place to start.

If you have military in the family USAA goes back further than many.

Friend just posted on our party cove page, Bank of the West was offering back 20 years, 1995 model year. (something we have not seen since before the crash).
Essex is connected to BofW from my understanding......

+1. easy and fast.

Minus the home equity option, Credit Unions all the way but usually they will require the boat is 10 years old or newer. Eboatloans.com will find you a lender but usually a few points higher than a credit union. In the northeast I have Americu credit union that has great used boat rates. Good luck

just refinanced through USBank... 4.5% pretty easy

I haven't had a note with Key, but the previous owner of my 46 had a a loan with them when I purchased it. From a buyer's perspective, they were very easy to deal with and were quick to send the paperwork when I paid off his loan. If I were looking for a boat loan I would at least give them a shot.

I can help with a 720+ or better credit score, 45% or less DTI and 10-20% down back to 1997.

Usaa just financed my 1997 37 Outerlimits, 4% 15 years 0% down required although I did put a bunch down to ease the payment.

Its a boat, if you're having problems financing it, your already in over your head. Remember, the easiest part is buying it

Recently got hooked up with Credit Suisse for investment management. They offer a Line of Credit against your portfolio @ Libor .15 +1.5. Im might just have to buy another toy!!!

Sell a kidney...I did that for mine...next upgrade is gonna suck though :-)

Financing for a boat? No thanks, I'll run my old school sh!t.

Don't try Bank of America- Back when I was getting the Cig they turned me down with 50% down payment. and virtually NO debt. And about 3x's the boats value in the bank. Already paid of the Baja with them too.

Told them to start making out some cashiers checks because ALL my $ was leaving their institution within 48hrs! I wish I could have gotten a pic of the mgrs expression.

My good buddy is a home town banker / loan officer. The owners of his bank take the stance that anyone who would buy a performance is irresponsible and no matter what they're worth or earn, they won't do boat loans. By virtue of buying a boat, "those type of people make bad decisions". I think the guy is just jealous.... maybe his wife told him, "no, you can't have a boat".

Credit union:stupid:

I just used Essex....boy they aren't the Essex of days past. I guess that's par for the course when the whole financial scene is shaky, and you sell out to "big business". You 'll jump through a lot of hoops (Google your rep for a real shocker), but they can do back to the 80's if the survey shows the value. It will cost a half percent and 20% down, but at least the money's actually available if you have top tier credit.

Jason Fox at Coastal Financial.

616.494.2628

other than home equity, or credit union...be prepared to bend over and experience some exceptionally high interest rates. IMO anything over 7-8% is too much for a hobby.

as others have mentioned id never finance a boat. but that's just me

Left my cash in the bank, used " bank of the west" got 4.9 for 20 years, took a few weeks to close with all the required paperwork, surveys, etc. but overall not a bad experience. Very easy online app, approved right away

I used bank of the west. Took a day with 4.9. If Essex really is 4.12 May go for a refi

Essex is Bank of the West's cranky minion.

Essex

I have a buddy that is a boat dealer, so he sells and finances lots of boats. He's told me that it's Really hard to get anything older than 10 years old financed. And if you can get it you are looking at higher rates.

GE credit union will finance any age. 110% of low NADA. lowest rate is 4.9%

+1. I used them with my prior boat vut couldn't get the ball rolling quickly enough

This might be a stupid question but do you have to be an employee of GE to be in their credit union or can anyone join? I've never dealt with a credit union so forgive the ignorance.

Anyone can Tracy

Don't finance toys.

All you people w/ your dont finance BS. Keep it to your self, make your own damn life decisions...... OP asked for help thats what people are giving him.

Wow you seem like a little b!tch

The guy asked a question about financing, doesnt need your dumb*ss coming on here being his life coach & financial advisor!

Your statement is completely stupid and ignorant.

I don't think he said he was having problems financing it....and I don't get the impression he is in over his head at all....another ignorant statement

Life coach? Financial advisor?
My opinion on financing toys is stupid and ignorant?
What the fu<k is wrong with you guys? I only gave my opinion.