Boat Loans
- Thread starter scitch8
- Start date
The friendliest place on the web for anyone who enjoys boating.
If you have answers, please help by responding to the unanswered posts.
If you have answers, please help by responding to the unanswered posts.
- Joined
- Apr 15, 2008
- Messages
- 13,738
- Location
- California Delta
- Vessel Name
- FlyWright
- Vessel Make
- 1977 Marshall Californian 34 LRC
Ask your broker for help. I used Key Bank, but don't know if they're still writing boat loans.
Ocean Breeze NL
Guru
- Joined
- Oct 29, 2011
- Messages
- 525
- Location
- Canada
- Vessel Name
- Ocean Breeze
- Vessel Make
- Ocean Alexander 85OA38
The problem with some bankers is they don't understand value when it comes to dealing with yachts. A 1982 to a bank officer that knows nothing about a yacht will think any amount of equity is gone. I would suggest ask the loan's officer if he/she ever dealt with loans for yachts, if YES present your survey to him/her and talk as if you know it inside out, if the answer is NO, find someone that has.
It could be frustrating dealing with the ignorant.*
Elwin*
It could be frustrating dealing with the ignorant.*
Elwin*
Phil Fill
Guru
- Joined
- Oct 11, 2007
- Messages
- 2,919
- Location
- US
- Vessel Name
- Eagle
- Vessel Make
- Roughwater 58 pilot house
Not many banks offer loans on older boats. Most financing will require 20+% down and a surveyor that they know trust.* Most have a preferred list of surveyors to use.* also you might want to check your credit score and if you have any delinquent creditors they will have to be cleaned up *
*
Try these as they do mostly boat loans.* *
*
BofA* - 541-265-2258
Essex Credit 866-377-3948.
Seacpst Marine 888-890-2877.*
Key Bank 800-539-3123,
Trent Funding 866-255-8800.
*
Try these as they do mostly boat loans.* *
*
BofA* - 541-265-2258
Essex Credit 866-377-3948.
Seacpst Marine 888-890-2877.*
Key Bank 800-539-3123,
Trent Funding 866-255-8800.
JD
Guru
Key Bank is out on boats.* They have been for a couple of years.* I had a boat with them and when I heard they were not doing boats anymore I called and asked if being as I had a good loan and was considering buying a different boat would they still do existing customers and their answer was.* "No.**We out of the boat business."
You may need a loan*broker for help.* Someone that deals with several companies and will know which one is best for your personal situation.
Here is one such person, George Arnold (910) 619-4573.* I think some of the brokers (boat) on this list could supply you with good*finance sources for older boats.
You may need a loan*broker for help.* Someone that deals with several companies and will know which one is best for your personal situation.
Here is one such person, George Arnold (910) 619-4573.* I think some of the brokers (boat) on this list could supply you with good*finance sources for older boats.
