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Old 10-31-2013, 05:40 AM
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Default boat financing?

Where is the best place to obtain boat financing in Florida
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Old 10-31-2013, 05:43 AM
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BOATLOANS DOT COM

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Old 10-31-2013, 05:44 AM
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Check with your local credit unions, Essex Credit, Key Bank, USAA if military, and your local boat dealers.
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Old 10-31-2013, 05:58 AM
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Credit unions seem to have the best rates. I got 4.49% for 10yrs.
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Old 10-31-2013, 06:06 AM
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The shortest term from a credit union was 7 years, which is longer than wanted?
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Old 10-31-2013, 06:15 AM
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So pay it off early
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Old 10-31-2013, 06:19 AM
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Just pay double principal each month and it will pay in half the time. You'll also pay half the interest.
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Old 10-31-2013, 06:26 AM
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Originally Posted by IN HOT PURSUIT View Post
The shortest term from a credit union was 7 years, which is longer than wanted?
I used LightStream. https://www.lightstream.com/boat-loan

Money is wired directly to your bank account and you handle the purchase as a cash buyer. It's an unsecured loan, so you will hold title to the boat on day 1. It was painless and they offer the short terms you are looking for. They also don't have restrictions on the age of boat if you are buying used. Only caveat is they require excellent credit.

I've also used Key Bank on my previous boat. Not sure if they are still writing loans in FL but they had the best rate I could find at the time. It was a traditional boat loan so, survey was required and it took weeks to fund the transaction.
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Old 10-31-2013, 07:57 AM
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I used LightStream. https://www.lightstream.com/boat-loan

Money is wired directly to your bank account and you handle the purchase as a cash buyer. It's an unsecured loan, so you will hold title to the boat on day 1. It was painless and they offer the short terms you are looking for. They also don't have restrictions on the age of boat if you are buying used. Only caveat is they require excellent credit.

I've also used Key Bank on my previous boat. Not sure if they are still writing loans in FL but they had the best rate I could find at the time. It was a traditional boat loan so, survey was required and it took weeks to fund the transaction.
WOW! i didn't think anyone would risk something like this anymore.... You must have to have absolute perfect credit and show a crazy DTI ratio.
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Old 10-31-2013, 08:26 AM
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I used BB&T bank. Good rate and they'll lend up to 12 years.
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Old 10-31-2013, 08:40 AM
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Call :

Please call, email, or PM me for more information.
Karie Noftsinger
Newcoast Financial Services
Marine Finance Specialist
850-461-6722
Karie@newcoast.com

She is here on THT, she specializes in marine loans...

http://www.thehulltruth.com/boat-com...ates-rise.html
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Old 10-31-2013, 09:11 AM
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I used Vic at First Choice Marina & RV. Made everything happen quickly being that I was 3k miles away. Tell him Robert Siano sent you. 516-223-2980. He's a good man!
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Old 11-01-2013, 06:19 PM
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I used LightStream and they were perfect!
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Old 11-01-2013, 06:28 PM
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Used LightStream as well. It's nice not to have a lien on your boat. Even saved some interest $$ on doing it as a direct payment each month.
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Old 11-01-2013, 06:32 PM
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Quote:
Originally Posted by squirm88 View Post
I used LightStream. https://www.lightstream.com/boat-loan

Money is wired directly to your bank account and you handle the purchase as a cash buyer. It's an unsecured loan, so you will hold title to the boat on day 1. It was painless and they offer the short terms you are looking for. They also don't have restrictions on the age of boat if you are buying used. Only caveat is they require excellent credit.

I've also used Key Bank on my previous boat. Not sure if they are still writing loans in FL but they had the best rate I could find at the time. It was a traditional boat loan so, survey was required and it took weeks to fund the transaction.
I second Lightstream! Had the cash next day. Absolutely hassle free.
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Old 11-02-2013, 04:05 AM
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Essex credit had the best rate when i went shopping. Low 4%. Very easy to work with, and zero problems closing. I did get a small discount for being a costco member as well. If u want contact info of person i dealt with, let me know.
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Old 11-02-2013, 07:50 AM
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Just earn money or lend from business / firm rather than paying interests to banks..
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Old 11-04-2013, 05:45 AM
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If I wanted to repower with either a brand new or Preowned outboard, who could I use for financing ?
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Last edited by capecodder86; 11-11-2013 at 06:49 PM. Reason: confusion
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Old 11-05-2013, 09:36 AM
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Called Essex...With being a Costco member...4.09% for 7 yrs. Can anyone beat that?
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Old 11-05-2013, 09:56 AM
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Hello all. First time posting in a while. I was a member years back and then took a break but I can't remember my user name and have changed emails since. Personally I wouldn't finance a boat. It's one of those things, I'd rather pay cash. Financing is a big reason you see so many overpriced boats. You may have to take a hit the day you get rid of it. I considered it and ran the numbers and decided to go used. I found a great deal on a used boat when I bought mine years back. If you're ok with by all means. Just my $0.02
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