Unless they raped your dog or something I Don't know how you can be too picky. FIs are not handing out money on toys like this anymore.

It's along story. First off the closest branch is 4 hours away. Second when you want to sell a boat and pay off the loan it takes 3 weeks to get a lien release or so they say,took 6 months and the thret of a lawyer to get one.

That stinks! I've had my last 4 loans with them and haven't had any problems with payoffs. One way around a state title is to CG document. I guess you would still have to remove the mortgage.

Of course they're not the most educated when it comes to boats and have had to jump through quite a few hoops for my last couple of loans.

They did call me several years ago threatening collections on me when I transposed a couple of numbers accidentally on one payment. My payment at the time was like $486 and I sent a check for $468. I thought it was quite rude and ignorant of them to not see the honest mistake, but no harm done.

I can certainly understand the distance issue.

My friend just finanaced a go fast through Key Bank......yes they are back in the go fast market.

-Can't be older than 12 years.
-I am not sure of the exact number but I know it was over 7%

My local credit union in Syracuse also approved finanacing for my last boat, but I decided to pay cash instead.

The days of 3.75 % with no money down for 20 years are over, and for me I applaud it because it has brought down the price of used boats to where they should be... IMO.

Amazing how much the price of a monthly payment effects the housing and boating market.


Just another thought, if you are shopping for a used boat you might want to stay away from anything older than 10 years unless you plan to keep it or pay it off. Finding any bank willing to finance a boat older than 15 years is near impossible. So if you spring for a 100k boat that is 12 years old and you want to move it in 3 year you will be in the cash only market.....no fun.

Call these guys refinanced my 93 problem free 15yrs....

Jason Fox | Finance Specialist | o:* 616.494.2628 | f:* 616.494.2629
Coastal Financial

Is there anything that can be done when the boat is a 1998 and has missed the cutoff by one year? I have perfect credit but seems as if all the banks have the same answer..

JASON

I just financed a 05' Sonic 358 - Bank of America 4.79% would have done 100% financing, and I picked the term, they would have done 240 months.... and no survey required.
Simple!
Oh - Essex closing costs total about 1k. Boa has a 200 app fee and that is it.

Highly reccomend trying them.

Good luck

Working on a bank loan now..with BOA SO far so good

B.O.A. only does loans on boats 6 calendar years old or newer. Just an FYI

http://www.bankofamerica.com/vehicle...ate=boat_loans

They will go up to 10 years old for over 100k loans. I also read on their site somewhere that they will not write loans on boats if the manufacturer is out of business or in bankruptcy.
http://www.bankofamerica.com/vehicle...auto_rv_boat#2