Main Menu
Advertisement
Affiliates
Advertisement
Newest Members
Gener849, GEEJR, C_S6225, Nyati, Highball Outfitters
108252 Registered Users
Top Posters
TexDawg 88916
hopalong 78895
Pilothawk 76461
John175® 67869
JDavis7873® 67390
FattyMcButterpants 60885
Derek 🐝 60491
Tritonman 58054
LoneStarSon® 54529
SkeeterRonnie 53420
facebook
Forum Stats
108252 Members
60 Forums
864106 Topics
12309543 Posts

Max Online: 36273 @ 01/23/13 02:34 PM
Topic Options
#10993306 - 07/22/15 10:30 AM General boat loan info
Chris_K Offline
Extreme Angler

Registered: 01/14/15
Posts: 1353
Loc: TX
I'm considering purchasing my first boat and I have a few questions. The boats I've been looking at are around 2004 models costing around 20-25k. How long will lenders finance a boat of this age? What range would interest rate be in? Any other tips I should be aware of? I don't want to apply for a loan until I have some of this basic info. Thanks in advance

Top
#10995711 - 07/23/15 10:14 AM Re: General boat loan info [Re: Chris_K]
Chris_K Offline
Extreme Angler

Registered: 01/14/15
Posts: 1353
Loc: TX
No one has ever bought a 10 or 11 year old boat and cares to share the details?

Top
#10997775 - 07/24/15 07:39 AM Re: General boat loan info [Re: Chris_K]
reclending.com Offline
Angler

Registered: 10/29/10
Posts: 343
Originally Posted By: It's a giant!
I'm considering purchasing my first boat and I have a few questions. The boats I've been looking at are around 2004 models costing around 20-25k. How long will lenders finance a boat of this age? What range would interest rate be in? Any other tips I should be aware of? I don't want to apply for a loan until I have some of this basic info. Thanks in advance


There are some options for that age group but they do get a bit more slim after 10 model years. From the lenders we see, age does not matter for term as much as amount financed and the credit history. Some lenders will use $25,000 and above as the longest term cut off. Some lenders will offer 144 or 180 months. IF credit has been bumpy, they might cut the offered term length but not always. If the loan amount is closer to $20,000 the term normally would be 120 or so. Now, if you take that long term ALWAYS PAY EXTRA EVERY MONTH YOU CAN! Nobody has made 180 minimum payments and you should not be the first to start.
Let us know if we can help.
Thank you,
Ken
_________________________

Top
#10997989 - 07/24/15 09:21 AM Re: General boat loan info [Re: Chris_K]
Chris_K Offline
Extreme Angler

Registered: 01/14/15
Posts: 1353
Loc: TX
Thanks Ken. I actually filled out an application and spoke to someone yesterday about a soft pull. They said you would probably contact me today eek

Top



© 1998-2018 OUTDOOR SITES NETWORK all rights reserved USA and Worldwide