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Issues trying to buy boat from Canada

Old 01-11-2018, 07:33 PM
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Default Issues trying to buy boat from Canada

I am looking at a Sutphen boat in Canada and running into issues with getting a loan. I have tried Essex and two of my credit unions and as soon as I tell them the boat's in Canada it's NO. No one will fund a loan outside of the U.S.. I don't know if it's because there are no titles involved? I guess they use "ownership slips"? That is what the salesperson told me. I was thinking of getting a personal loan to buy the boat and get it back into the states and try and refinance it into a regular boat loan later? Anyone have any thoughts?
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Old 01-11-2018, 09:08 PM
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Originally Posted by 253checkmate View Post
I am looking at a Sutphen boat in Canada and running into issues with getting a loan. I have tried Essex and two of my credit unions and as soon as I tell them the boat's in Canada it's NO. No one will fund a loan outside of the U.S.. I don't know if it's because there are no titles involved? I guess they use "ownership slips"? That is what the salesperson told me. I was thinking of getting a personal loan to buy the boat and get it back into the states and try and refinance it into a regular boat loan later? Anyone have any thoughts?
I ran into the same thing years ago. I ended up having to borrow against my 401k to buy it.
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Old 01-15-2018, 12:42 PM
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I may have a source.Call me @856 767 8134
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Old 01-15-2018, 02:16 PM
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Credit union.....
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Old 01-15-2018, 04:22 PM
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the only thing we have here in canada as registration, or title, call it whatever you want, is a 8 x 11 paper sheet printed with boat info, and the owners info. nothing more nothing less!

I can't see why a bank would not loan on that boat once in your country, beside we do not have title, but you know some states in US don't always have title either, so... good thing you get your info before buying, but depending on your finance, maybe i would buy it, import it, get the US registration you are supposed to have, and ask for loan afterwards?

wishing you the best !
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Old 01-15-2018, 04:22 PM
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where is the boat by the way ?
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Old 01-16-2018, 06:01 AM
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It's located in Barrie. I would be looking at a 20 hour round trip ride to pick it up. I'm still undecided what to do. I can get a personal loan to buy the boat and then try to refinance it to a boat loan after I get it titled if all goes well. I have yet to see it in person as well. It's got 85 hours and in mint condition from what the sales person tells me. It seems to be a good deal but I'm just not sold on going through the whole process yet. I stumbled on the boat surfing the web a while back.
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Old 01-16-2018, 11:45 AM
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Paper works should be easy when done properly
contact my broker richard fournier he speaks english and i imported and exported vehicules, boats , trailer, and things always went easy

he should be able to help you

RICDEN Auto Import Inc.
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Old 01-16-2018, 12:23 PM
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Thanks for the information. If I move forward on this boat it's good to have options! I'm just not 100% sold on the boat yet.
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Old 01-17-2018, 11:43 AM
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If the boat is in Barrie I would call Double R. They are relatively close, and they ship and sell boats to the US all the time. I am sure they would be able to help you. The Toronto Boat Show is on this week, so I would assume they are there and may not respond right away.
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