NEW BOAT FINANCING

[Tim Leighton]

Greetings from a (I think??) a new Catalina owner: Got "hooked" at the Annapolis Sailboat Show last weekend and wound up buying a new Catalina 400. OUCH! Looking at a spring delivery in the southern Chesapeake Bay (Norfolk). In any case, it's been a long time since I've researched boat financing. Hoping there are a few of you out there who have recent experience with the various banks/lenders and give me whatever advice you have. Rates are not a primary concern (of course they are, but most lenders are pretty close to each other). What I really want to know is how hard/easy they were to work with. Thanks!Tim (current/hopefully soon former owner of Hunter 31 "TIDE")

 

[Pat Tyler]

Boat Finance

We used Scott Financial...Joe McCottle. Can't find his card right now but 800 information should have it. Very easy to work with.

 

[James Yates]

Boat Financing

Check out www.Boatsbank.com which is really Key Bank. They offerred me 7.25% to refinance my C380 and my previous lender, Deutsche Financial, their lowest offer was 8.49%, which is not much different than what I currently have. I will now pay the loan off in just about half the time.Jim

 

[Pete]

Offshore Financial

was a dream to work with. I own my own business, so I don't have a fixed salary. Nevertheless, they okayed me in 24 hours base on past 1040s and some additional financial info. I even rerefinanced within one year, and they only charged $150.

 

[Jeff]

Great Rate

I just got 6.99% through Essex Credit. The actual financing will come from Wachovia Bank.

 

[Mark Flaherty]

Financing

Congratulations -- Great Boat! Am in Norfok/Virginia Beach and used Coastal Financial on Laskin Road (Mark Delaney). Competitive rate right with everyone else and if they could have made it easier, not sure how. Also excellent service re insurance. Recommend give them a call.Mark FlahertyDIVERSION380#296

 

[Tim Leighton]

THANKS TO ALL (MARK RESPOND)

Thanks to everyone for your posts. Coastal Finincing contacted me via the dealer and their rates are extremely competitive and likely to go down again very soon! Mark, drop me an e-mail at address below. I'd like to get some background on the dealer and talk about the local Catalina Fleet (30) club (I don't think you are a member). Great group. Thanks again to everyone. Looking forward to my new 400 (ESPECIALLY after I sell my Hunter 31!). Tim L. TIDETIM@AOL.COM