Boat Loan

[bearpah]

In search of a boat loan? Does anyone have any recommendations. Boat located in Havasu. Thanks for your help.

 

[JFMFG]

In search of a boat loan? Does anyone have any recommendations. Boat located in Havasu. Thanks for your help.

Year and model?

 

[Slick]

America First Credit Union. https://www.americafirst.com/

 

[WTR&PWR]

I heard a lot of good stuff about bank of the west. Rates seemed fair for boats and they are willing to do a little older boats than others. All their info and rates are online so there’s a lot of transparency. Good luck!

 

[bearpah]

Year and model?

2008 magic sorcerer 34 cat

 

[Wmc]

@Englewood might be able to do it

 

[JFMFG]

2008 magic sorcerer 34 cat

Maybe Hamilton marine finance I think it’s a case by case basis with the older cats.

 

[crzy2bealive]

Lightstream

 

[WTR&PWR]

Also just a heads up. You may want to shop some insurance companies prior to purchase also. I notice there is a huge difference between companies in cost and a lot won’t cover. That way you don’t end up with sticker shock after you buy it.

 

[humvkev]

Lightstream

This is also what I would recommend.

 

[Englewood]

2008 magic sorcerer 34 cat

We can do it. BoatLoanGuy.com. Anything over 10yrs old requires 10% down.

 

[Havasu Rehab]

I used America First. I called Hamilton and their customer service was too notch. The numbers just didn’t work for my situation. Bank of the West was also an option for us. They had a slightly lower rate than America First. The deal breaker was Bank of the West had an extended timeframe to fund the loan. America First was more streamlined, so I chose them.

Things may have changed since the rate hikes though. Good luck!

 

[Bakotrash]

America First Credit Union.

 

[Mikes56]

My TopCat 1 is thru Bank of the West. No problems after 7 years. My first boat was financed with them too.

 

[bearpah]

Thank you for all the help. Will reach out

 

[Dcb.blake]

Also just a heads up. You may want to shop some insurance companies prior to purchase also. I notice there is a huge difference between companies in cost and a lot won’t cover. That way you don’t end up with sticker shock after you buy it.

X2 on this. I had a hard time with mine. Rates are a lot higher than they were 2 years ago

 

[traquer]

What's the maximum age and minimum price cutoff typically on these loans?

 

[JFMFG]

What's the maximum age and minimum price cutoff typically on these loans?

@Englewood

 

[Englewood]

What's the maximum age and minimum price cutoff typically on these loans?

We can go up to 20yrs old. Loan amounts as low as 20k.

If it is a “custom boat”, there are some more restrictions (10% min down, 12yr term, NADA average retail for valuation).

 

[traquer]

We can go up to 20yrs old. Loan amounts as low as 20k.

If it is a “custom boat”, there are some more restrictions (10% min down, 12yr term, NADA average retail for valuation).

Thanks, that's good to know!