We may have found the boat we have been looking fo but!!!!!!!!! No one wants to make a loan for a 20 year old boat. We can do alternative financing but would prefer to use the boat as collateral. Anyone know of a company that finances older boats??? This will be about a $25,000 loan with 15% down. Thanks
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steve rainey
Finc a 20 yr Old boat
Check out your local Credit Union. I did a loan 100% for a 1978 Hunter 30' thru Eductional Community...
Check out your local Credit Union. I did a loan 100% for a 1978 Hunter 30' thru Eductional Community...
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Dave Kurth
Financing a "Good Old Boat"
I recently re-financed my 1980 Catalina 38 and did it through Wells Fargo,with whom I also have my home financed. They didn't care how old the boat was, but did require a new survey to verify that she was sound and in good condition. With interest rates at an all time low, I thought now was the time to get a better deal on financing and had no trouble at all!
I recently re-financed my 1980 Catalina 38 and did it through Wells Fargo,with whom I also have my home financed. They didn't care how old the boat was, but did require a new survey to verify that she was sound and in good condition. With interest rates at an all time low, I thought now was the time to get a better deal on financing and had no trouble at all!
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J.B. Dyer
Boat US
They have financial services for used boats but I've never dealt with them and don't know how they deal. I think they have a calculator on their web. Just checked their web site, they are offering 5.99 interest for boat loans of 25000-50000.
They have financial services for used boats but I've never dealt with them and don't know how they deal. I think they have a calculator on their web. Just checked their web site, they are offering 5.99 interest for boat loans of 25000-50000.
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tom
I called Boatus
and the guy I talked with said that they don't finance boats over 20 years old. We had boat insurance with them for years and bought stuff from them...but no boat loan.
and the guy I talked with said that they don't finance boats over 20 years old. We had boat insurance with them for years and bought stuff from them...but no boat loan.
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Ron San Martino
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J.B. Dyer
That's Typical
Thanks for the information Tom. You never know about the "fine print" until you try to do business with somebody. I'm insured with them too but never dealt with them about buying anything.
Thanks for the information Tom. You never know about the "fine print" until you try to do business with somebody. I'm insured with them too but never dealt with them about buying anything.
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Michael O'
Key Bank financed ours
Twenty year-old O'Day 34, down pmt of $6500 and financed $31000. Michael O'
Twenty year-old O'Day 34, down pmt of $6500 and financed $31000. Michael O'
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tom
we got a loan
We applied to two banks and got a loan approved at one and rejected due to boat age by the other. They required an out of water survey and that the boat be documented to prove ownership. I haven't been this excited since I sold my last sailboat.... What's that old saying about the two happiest days???
We applied to two banks and got a loan approved at one and rejected due to boat age by the other. They required an out of water survey and that the boat be documented to prove ownership. I haven't been this excited since I sold my last sailboat.... What's that old saying about the two happiest days???
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