Lender for an 83 Labelle?
- Thread starter jon1972s
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If you have answers, please help by responding to the unanswered posts.
If you have answers, please help by responding to the unanswered posts.
PM
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You will need a substantial down payment to get a bank interested. A home equity loan is more likely.
Some people don't want to tie up their home equity up in a boat, they also don't want to deplete their savings for a boat. To these people I ask.."How do you think the banks feel?"
To buy a $70,000 boat, you pretty much need at least half of that amount in ready cash. Some for the down payment, some for immediate expenses like survey, some transportation, a tank of fuel, taxes license, etc. And some for first year improvements, electronics, a berth, storage, new canvas, etc. and then some for long term expenses like new engine, new paint color, more electronics, etc.
If you can't lay your hands on $35,000 I think you should consider a less expensive boat.
pete
Some people don't want to tie up their home equity up in a boat, they also don't want to deplete their savings for a boat. To these people I ask.."How do you think the banks feel?"
To buy a $70,000 boat, you pretty much need at least half of that amount in ready cash. Some for the down payment, some for immediate expenses like survey, some transportation, a tank of fuel, taxes license, etc. And some for first year improvements, electronics, a berth, storage, new canvas, etc. and then some for long term expenses like new engine, new paint color, more electronics, etc.
If you can't lay your hands on $35,000 I think you should consider a less expensive boat.
pete
Comodave
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You might try Cindy Lewis at Sterling. She may be able to help, but then again maybe nobody is financing old boats now due to the virus. 410-903-6611
BTW, welcome aboard.
BTW, welcome aboard.
I had great luck with Lightstream. If you need something less than 100k in (max) 84 months they are a breeze; if you qualify of course.
I asked for 50k and my approval came the next day.
Also, no lien required. They may ask for proof that you used the funds for the boat, car, etc.
I asked for 50k and my approval came the next day.
Also, no lien required. They may ask for proof that you used the funds for the boat, car, etc.
tiltrider1
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Boats over 30 years old are very difficult to get financed. I don’t know of anyone in the PNW that will do it.
Exactly. That is what Cindy at Sterling told me too.
Personal (boat) loan at Lightstream was not bad. I got an 7 year loan at 5.49%
I couldn’t beat that...though he sold the boat out days after we settled on a price.
DrissZougari
Senior Member
Sorry to hear!
Good luck,
Good luck,
