Boat financing

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Boat financing

Postby quack-quack » Wed Jul 02, 2014 10:38 pm

I've been looking into trying to finance a boat and it seems it's almost impossible unless it's new or under 2yrs old. Anyone have any recommendations on a bank to go through or how else this works?
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Re: Boat financing

Postby tsamp » Fri Jul 04, 2014 7:55 am

Can't you get a personal loan and just use it on a boat? I'm no expert but I think that may be a route depending on the boat.
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Re: Boat financing

Postby quack-quack » Fri Jul 04, 2014 8:24 am

I tried a boat loan and it had to be within 2yrs old. I tried the personal loan route and the interest was a joke. That was only one bank though.
I will, but I didn't want to call every bank to get their options, was hoping for someone here who might know a guy.
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Re: Boat financing

Postby tsamp » Fri Jul 04, 2014 9:33 am

Have you looked at a dealer with used boats? Maybe they have better financing.
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Re: Boat financing

Postby quack-quack » Fri Jul 04, 2014 9:47 am

I haven't found any really. I mean no used boat dealers with mud boats, only fishing boats.
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Re: Boat financing

Postby tsamp » Fri Jul 04, 2014 10:37 am

Any sales person boat or car will have same tactics and as I'm sure you know is to squeeze every penny outa you they can for that commission. Going used for sale by owner is a much cheaper route up front just cuzz most people suck at selling stuff and every chip scratch ding and bend can bring down price. I got my boat that was worth around $3400-3600 at the time and they guy listed it for $3800 and I through out my low ball and he took it with little resistance at all. Cheaper up front! BUT 3 months down the road a cylinder was not pumping and the tire and bearings where inn the crapper and I had to spend some cash on it then. But I still got a heck of a deal!
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Re: Boat financing

Postby trigger22 » Fri Jul 04, 2014 12:42 pm

I bought my Intruder in 2012 and it is a 2006 model with a 2008 motor. I didn't have any trouble at all getting a loan for it from Navy Federal. Went in, told them what I was buying and how much I needed and left an hour or so later with check in hand.
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Boat financing

Postby quack-quack » Fri Jul 04, 2014 3:34 pm

trigger22 wrote:I bought my Intruder in 2012 and it is a 2006 model with a 2008 motor. I didn't have any trouble at all getting a loan for it from Navy Federal. Went in, told them what I was buying and how much I needed and left an hour or so later with check in hand.


Thanks I'll check them out
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Re: Boat financing

Postby Drop Zone » Fri Jul 04, 2014 5:02 pm

I hate bank of America but they had the best thing going when I bought mine four years ago. Did it all over the phone. State employees credit union is pretty good if you are a member. If I remember correctly they don't have an age restriction.
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Re: Boat financing

Postby quack-quack » Fri Jul 04, 2014 6:14 pm

I'll look into boa, SECU was the one with the restriction. Not sure why but thanks
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Re: Boat financing

Postby Dingbatter 2 » Sun Jul 06, 2014 5:15 pm

If you have to go in the hole just to buy a boat, wait until you have to maintain it. :no: :lol3:
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Re: Boat financing

Postby tsamp » Sun Jul 06, 2014 7:00 pm

Dingbatter 2 wrote:If you have to go in the hole just to buy a boat, wait until you have to maintain it. :no: :lol3:


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Never had so many head aches and projects until I bought a boat. But you never think of that when your swating birds outa it or landing a nice fish.
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Re: Boat financing

Postby quack-quack » Sun Jul 06, 2014 8:16 pm

My first boat was $500 Jon, then I bought paint, flooring, fog lights, LED lights, etc.. $10 here, $10 there, you don't realize it all adding up!
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