Who will do a long term on a 1996 formula 303sr1??
02-16-2019 | 04:04 PM
#1
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From: vermont
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
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From: Delray Beach, FL
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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From: vermont
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
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Joined: Jun 2006
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From: Seaford, VA
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.
