Older Boat Financing
 

With credit fairly limited these days and some of the biggest marine lenders pulling out, has anyone found a place to finance a boat over 15 years old? If so, what are the rates and down payment needed?

I guess you just have to have 50K cash around to buy an older cig these days?:mad:

Essex said they would do older boats. I asked them about a 1990 and they said no problem, I think the rate they gave me was 7.97. Didn't use them because the seller didn't accept my offer.

Thanks.

Rate's not great, but I don't think you'll find anything good outside of a credit union these days. My credit union unfortunately only wants newer boats.

Getting a loan on a performance boat today is almost impossible, I have never seen it like this!!!!!! I know :mad:

What are you looking at?

Were you working a deal on a Mystique that can't get financed now? :party-smiley-004:

This sucks. Now is a great time to buy for many, but the banks are strangling off the entire market.:mad:

Well....a lot of things.

There are a couple of 88 Bullets I really like.

However, because of financing/insurance concerns I'm also thinking of newer boats, depending on the deals I find and how much I feel like stretching my budget, Mystiques, Sunsation 32's, AT 28/32's, Sonic 31's....

There are some credit unions that will get aggressive on used boat loans, but I'm havening a brain fart. I think Pentagon was one?

https://www.penfed.org/productsAndRa.../boatLoans.asp

No, and yes, I will have the money this week, it is just taking alot more time and effort then I would like!!!

Well congrats:drink:


I think I'm going to try and work a deal on a newer boat right now to avoid the hassles, but am still interested in what the options would be for an older one.