whos everyone financing through
 

looking for some info on what banks,credit union,or lending companys are giving good rates?

Does the lack of replies tell you anything? :party-smiley-004:

sure does,bunch of rich mother f*#$ers

Banks aren't loaning.....and with the words "High Performace" included in the boat loan...it's a double whammy.

Us bank will do 90% of nada.

Alliant Credit Union has been doing many of our recent client's new boat purchases...all of which have fast CATS....

thanks but i refuse to use us bank

We have a lender who is working well for us on factory new Active Thunders, but it's an exclusive setup.

If you dont use a bank who do you propose? The problem is if your going to go high dollar boat and not put much down you will probably be in for a surprise because most places are only going to do 75-90% of Nada value which as we all know is a lot less then true value sometimes. Fact of the matter is creditors are losing their ace on GO FAST and they are going to be strict.

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

Just got one thru USAA. You have to be a member though. Very easy and great rate. 6.25%. :drink:

I just took out a loan on a 97 fountain through my local credit union in colorado. They would only go 75% of low nada though, but it was 7% for 60 due to the low loan amount of 17k. In colorado boats don't have titles, and this was not an issue for them.........plus I had already paid cash for the boat and was just looking to get the money back for something else. They ok'd it no problem! No one else I talked to would deal with the issues of lack of title, or already purchased with cash. I tried Coastal Financial and several others.

+1

Fast, easy, and did I mention fast? I applied for the loan on Monday, got the boat delivered Thursday. Also with a great rate :)

I use my local Credit Union, best rates/people and i won't be buying a boat less then 10 yrs old anytime soon