Who will do a long term on a 1996 formula 303sr1??
02-16-2019, 04:04 PM
#1
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Thread Starter
Who will do a long term on a 1996 formula 303sr1??
Looking for a formula under 30k 25-30ft. I have been finding most lenders wont do a long term loan on anything older then a 1999. Problem is they don't exist for sale at that price. I have found multiple for sale that are 1996ish but can't get term that works for us currently. Anyone have any advice or suggestions?? Thanks
-Joe
-Joe
02-16-2019, 04:29 PM
#2
Gold Member
Gold Member
My 2 cents....
Check a credit union first.
If that doesn't work:
Get a line of credit or personal loan.
Cash advance on a credit card (or 2 cards)
You might not know this yet but insurance on a 20 or 25 year old boat will KILL the deal. I am scared to death for the day that my boat passes 15 years. This is another reason to do it on a line of credit or cash advance so you can do it on a cheaper policy at your value, not the banks value.
Check a credit union first.
If that doesn't work:
Get a line of credit or personal loan.
Cash advance on a credit card (or 2 cards)
You might not know this yet but insurance on a 20 or 25 year old boat will KILL the deal. I am scared to death for the day that my boat passes 15 years. This is another reason to do it on a line of credit or cash advance so you can do it on a cheaper policy at your value, not the banks value.
02-16-2019, 04:56 PM
#3
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Thread Starter
My local credit union only offers 4 year terms on boats. I sold a 1992 sea ray sundancer 270 last summer, I was only paying around $30 a month. I would expect a performance boat to be a bit higher but not that crazy...maybe I'm wrong though!
02-17-2019, 11:53 AM
#4
Gold Member
Gold Member
I ended up using USAA. If you have access to them than don't bother looking any further. They don't care about age. 180 month terms. If not try a couple other credit unions - I had 180 months with a local CU on my Cafe when I first bought it.....
Keith - no issues on insurance at all either from either my current boat or my incoming boat, both of which are older than 15 years. I'm insured with Wakezone.
Keith - no issues on insurance at all either from either my current boat or my incoming boat, both of which are older than 15 years. I'm insured with Wakezone.
02-18-2019, 09:34 AM
#5
Gold Member
Gold Member
I have a 1990 Fountain and don't have any problems with insurance or rates.
Call World Wide Marine ,,Bob Lewellen,, he has always been upfront and honest with me..
Call World Wide Marine ,,Bob Lewellen,, he has always been upfront and honest with me..
02-18-2019, 11:44 AM
#6
Registered
Don’t know where your located but I used landmark credit union for my 89 272sr1 got 120month financing at a great percentage rate. Might wanna look into them!
