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Boat Financing

Old 07-02-2018, 01:23 PM
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Default Boat Financing

whos everyone use? Trying to do one with out down payment preferably
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Old 07-09-2018, 02:49 PM
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I work for YachtCloser Financial and we finance boats. What type of boat are you looking to purchase? Year, Make, Model? Purchase Price?
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Old 07-09-2018, 02:59 PM
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From many suggestions on this forum here, and another cruiser forum, we chose LightStream
https://www.lightstream.com/
About a month ago we were looking to secure a loan for an older boat. Specifically a 21 year old Sea Ray. Many places turn you down for older boats, or have quite high rates and difficult application processes.

My wife and I were both amazed at how EASY and FAST LightSpeed was. Applied early after noon had the loan approved about 4 hours later and later that night the deposit in our bank!
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Old 07-14-2018, 04:48 AM
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FYI

Applied to LIGHTSTREAM

797 Credit score

Almost enough in my savings to cover the loan.

Denied.

I am going to do more research and find another lender worthy of my business. Hope this helps someone else on the board thats looking for financing.

Jason
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Old 07-14-2018, 04:58 AM
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Originally Posted by bluekeysreef View Post
FYI

Applied to LIGHTSTREAM

797 Credit score

Almost enough in my savings to cover the loan.

Denied.

I am going to do more research and find another lender worthy of my business. Hope this helps someone else on the board thats looking for financing.

Jason
What reason did they give?
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Old 07-14-2018, 05:04 AM
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Try here.

​​​​​​​Cindy Lewis
Marine Finance Specialist
Sterling Associates- Mid Atlantic
Serving Clients Nationwide
410-903-6611
Fax 410-349-0102
cindy@recreationfinance.com
Recreation Finance ? Cindy Lewis ? Marine Finance Specialist
www.boatbanker.com
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Old 07-14-2018, 05:12 AM
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Karie@newcoast.com
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Old 07-14-2018, 05:31 AM
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Originally Posted by BoatLoans_by_MJ View Post
I work for YachtCloser Financial and we finance boats. What type of boat are you looking to purchase? Year, Make, Model? Purchase Price?
looking myself as well, how high do you go?100k dwnpymt inbox me.
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Old 07-14-2018, 05:38 AM
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I highly recommend:

Jim Desnoyers at Intercoastal Financial Group 860-235-0853

Jim was able to get me the loan I amount I needed and then some as well as a rate under 5% which no other company could come close to touching.

Jim is awesome!!!
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Old 07-14-2018, 06:34 AM
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Old 07-14-2018, 06:36 AM
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Old 07-14-2018, 06:37 AM
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you post no info on amount you want to borrow, state in which you reside, type of boat, age of boat, etc

plenty of threads with good information if you search: https://www.thehulltruth.com/search.php

for ~$100-150k+

good:
yachtcloser
boatbanker aka sterling

bad:
newcoast
trident
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Old 07-14-2018, 07:45 AM
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Chiliando,

just got the results. Debt to income (basing off last years taxes not asking for current pay stubs.)

Cannot verify information on application (not sure what they can't verify?)
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Old 07-14-2018, 07:48 AM
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Sterling associates
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Old 07-14-2018, 08:18 AM
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Looking for around 40k 2012+ flats/bay boat
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Old 07-14-2018, 08:57 AM
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Originally Posted by Spearin_fool93 View Post
Looking for around 40k 2012+ flats/bay boat
tons of options but some dependent on what state you are in.

also check with your local bank / CU

Last edited by mystery; 07-14-2018 at 12:58 PM.
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Old 07-14-2018, 09:01 AM
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South florida
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Old 07-14-2018, 11:27 AM
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Also compare with your local credit unions, we used IBM credit union and got the best rate we found!
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Old 07-14-2018, 12:24 PM
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Would love to private message you but apparently i have exceeded my number of private messages for the day. I sent 4 today?!? feel free to email me at mj@yachtcloser.c
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Old 07-14-2018, 12:26 PM
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can't send private messages bc of my member status. email me at mj@yachtcloser.com and I will respond. Thank you!
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