Does anybody have experience with any Southern California credit unions that offer 15 year terms on boat loans up to $100K? I would appreciate any input.

I have some experience with Cal Coast Credit union here in So Cal. Not good experience since they limit what the loan amount based on low wholesale NADA of the HULL ONLY. They do not count any options, trailer or motor values in computing what % they will loan against. So most likely if you were going to be purchasing a used boat less than 5 years old for $100k, they might loan 80% of the hull value or about $25-30k-ish give or take.

None of the banks like the high performance game. Bank of America is better but by no stretch perfect. You can try Essex Credit (Richard Tressler in Newport Beach), he may be able to help. Another source would be Trident Funding in Newport beach, they have some good connections and may be able to assist you.

Shad

Thanks Shad, good info. Sounds like the usual suspects may be the best bet. Great boat name by the way. Thanks again.

Well I had some good luck with our local credit union, where the usual suspects could not get me done, credit unions dont care what type of boat or how fast it is just if the value is there.Good luck.