Texas Fishing Forum

Classic Financing

Posted By: Classic Used Boats

Classic Financing - 03/03/16 04:12 PM

I have been offering loans to my boat buying customers for over 3 years. Now I am excited to offer financing for any bass boat loans! I specialize in the older bass boats but I have also loaned on a couple 2015 rigs. Don't let a poor credit score scare you away from buying a boat. If you have a steady job and an established bank account, I can get it done.

I am licensed by the OCCC, I have my boat dealers license, and trailer dealers license. I use all industry standard forms. There are no prepayment penalties. I pull the payment direct from your bank account on an agreed date each month. I do not sell your loan paper off. I keep it, and I manage it. If you get in a bind and can no longer afford it, you bring the boat to me and I do a fair clearing of your equity on the boat when it sells, and there is no hit to your credit if handled this way.

I can work direct with you or I can work with any boat dealer, but I do not work with finance companies who work for fees and sell off the paper. I maintain a vested interest. For any loan, my typical fees are $150 for documents, and if I am wiring funds the cost to wire of $35. There are no hidden fees - all fees are disclosed.

If you are in the market for a bass boat, and need a loan, please give me a call! I can also help with your buying decision. I have a little experience with bass boats!

Mike Kernan
Posted By: Bobby Atchison

Re: Classic Financing - 03/04/16 03:28 AM

I'm interested in a new to me boat but I have a trade in so what can you do for that situation?
Posted By: Classic Used Boats

Re: Classic Financing - 03/04/16 04:08 AM

I consider trade ins. Please send me the details. If I am not a buyer, you can find a buyer and come to the table with buyer. In that case I can let you trade it in, and sell it to your buyer to help save taxes.
Posted By: SkeeterRonnie

Re: Classic Financing - 03/06/16 02:48 PM

Mike is one of the nicest guys you can meet! He has always offered help to me! Last boat I sold, he told me if my buyer needed help he would float the loan on the Basscat! I can't recommend Mr Kernan enough! Great man with excellent business skills!
Posted By: Mark Jones

Re: Classic Financing - 03/08/16 03:58 AM

Mike handled financing for me on a recent boat purchase. Flawless process. thumb
Posted By: txbasshunter77611

Re: Classic Financing - 03/15/16 01:27 PM

Do you have a dealership with used boats on the lot or do you just provide financing?
Posted By: Classic Used Boats

Re: Classic Financing - 03/20/16 12:57 PM

Occasionally I have boats. Two that we are refurbishing right now already have deposits on them. But I am willing to finance a boat you find on your own. I can provide some insight on any boats you are considering, after we have you pre-approved for a loan.

Posted By: bass_master13

Re: Classic Financing - 03/22/16 04:49 AM

I am interested i been looking for someone to help me to get in a bass boat if you think you can help me pm me or txt me please 9032887494 my name is jeremy
Posted By: Classic Used Boats

Re: Classic Financing - 03/22/16 12:43 PM

PM sent. Just wanted to say thank you to those that have called. I put 7 anglers in boats this month.

Give me a call if I can help.

Mike Kernan
Posted By: JMac-D

Re: Classic Financing - 03/25/16 12:59 AM

Originally Posted By: Classic Used Boats
PM sent. Just wanted to say thank you to those that have called. I put 7 anglers in boats this month.

Give me a call if I can help.

Mike Kernan

Great guy to deal with, thanks again...
Posted By: Classic Used Boats

Re: Classic Financing - 03/30/16 09:53 PM

Thanks. If you need financing on a boat, give me a call. I am on the road a bunch fishing the FLW Tour, but I always have my cell phone.

Mike Kernan
Posted By: JerryC

Re: Classic Financing - 04/01/16 12:02 AM

Mike is a great guy. Recommend him whole heartedly!
Posted By: Classic Used Boats

Re: Classic Financing - 04/06/16 12:58 PM

My financing is a good fit for older boats-over 6 years because banks and credit unions do not often want to loan on them. The challenge is having the expertise to know what they are worth. Because I have been in and around bass boats for over 30 years, I can estimate value well. If you are selling your older boat, feel free to say 'Financing Available' in your ad and have the buyer call me. It very well may help you get it sold, and I appreciate the business!
Posted By: Deputy T

Re: Classic Financing - 04/11/16 10:13 PM

Sent you a PM
Posted By: Classic Used Boats

Re: Classic Financing - 04/13/16 03:14 PM

Responded to all. Thanks
Posted By: bullnettle

Re: Classic Financing - 04/17/16 03:04 PM

pm sent
Posted By: Classic Used Boats

Re: Classic Financing - 04/18/16 10:53 PM

All messages answered. Thanks
Posted By: Bobby Milam

Re: Classic Financing - 04/27/16 01:52 AM

I just had the pleasure of dealing with Mike for financing a boat. He's a great guy. I requested info on Sunday evening about the process, found my boat on Monday then received a call on Tuesday that the process was complete pending a wire transfer. I'm still in disbelief how painless the entire process was and how quickly he worked. I've never had any experience in financing that was anywhere near the ease of this procedure. Not only was he fast, he was knowledgeable and took the time to answer any questions. The seller, even commented to me after dealing with Mike on his end of the sale, that I had found a gem to deal with.

If you are looking for a very smooth transaction when looking for a used boat, do yourself a favor and at least give Mike a call. You won't be sorry.
Posted By: Jim Reaneau

Re: Classic Financing - 04/27/16 09:14 PM

If your looking for and older boat or newer boat Get Classic Used Boats with Mike Kernan to help you with the arrangements. He is number one in my book in getting you financed and set to go in your new boat. GREAT PEOPLE TO DEAL WITH.
Posted By: Classic Used Boats

Re: Classic Financing - 05/06/16 11:35 PM

Thank you Bobby and Jim!

If you are looking for a boat loan give me a call if I can help get you financed!
Posted By: SoonerDG

Re: Classic Financing - 06/08/16 02:04 PM

Shout out to Mike on making this a super easy process. He's a great person to deal with!

Many thanks for all of your help!
Posted By: knob102

Re: Classic Financing - 06/27/16 06:34 PM

PM Sent
Posted By: lowew79

Re: Classic Financing - 07/06/16 05:37 AM

You say BASS boat, does that mean you won't do a bay boat like a skeeter SL series, or a catfish-xpress or something like that?
Posted By: Classic Used Boats

Re: Classic Financing - 07/07/16 04:56 AM

I can do loans on those. I just have to do a little more research on the values.
Posted By: lowew79

Re: Classic Financing - 07/09/16 01:04 AM

Originally Posted By: Classic Used Boats
I can do loans on those. I just have to do a little more research on the values.

Great thanks! I will talk to the wife we keep putting it off and putting it off, but we aren't getting any younger lol.
Posted By: Ricky Taylor

Re: Classic Financing - 07/14/16 03:08 AM

Mike is an a great person! After he bought my boat I consider him a friend of mine lol. Great communication throughout the whole process! Wouldn't recommend anyone other than Mr. Kernan.
Posted By: Classic Used Boats

Re: Classic Financing - 09/26/16 01:50 AM


Finally got a website up. Please check it out at classicboatloans.com. Shows the boats I have in stock and explains how my loan process works.

Thanks again!
Posted By: Txfencebuilder

Re: Classic Financing - 05/09/17 03:05 AM

Mike is easy to deal with and it happens just as he says it will if you need financing give him a call
Posted By: TBassYates

Re: Classic Financing - 06/14/17 12:54 PM

Thanks Mike for taking care of brother Danny on his boat transactions. It sure makes things easier when you are dealing with a local person you actually know instead of just someone at a bank or on a phone and is a person in the fishing and boating industry for so long. My brother was blown away with how easy the selling of his boat and purchase of a boat he has been waiting on for a while was done. He goes to pick it up this afternoon and even though it is a boat really familiar to us since it belonged to his neighbor and tournament partner at one time it is almost like getting a brand new boat but even better. I will be getting with you later down the road when I get ready for another boat myself.
Posted By: GeoKimikaOil

Re: Classic Financing - 06/14/17 05:20 PM

Might be calling you soon.
Posted By: Broke off

Re: Classic Financing - 06/16/17 10:05 PM

Originally Posted By: GeoKimikaOil
Might be calling you soon.

Do..... I have done 2 boats with Mike and it is a painless transaction.
Posted By: Verkeith

Re: Classic Financing - 06/21/17 10:40 PM

Pm sent
Posted By: Doc_K

Re: Classic Financing - 07/25/17 02:47 AM

Message sent.
Posted By: redmojo

Re: Classic Financing - 08/02/17 03:30 AM

PM sent sir.
Posted By: Jakesfish

Re: Classic Financing - 08/08/17 02:34 AM

Mike p.m. sent
Posted By: Mark Perry

Re: Classic Financing - 09/29/17 10:56 PM

I finished up buying a boat yesterday and Mike was amazing to work with. One of the fastest and easiest buying transactions I have made. Also loved how the numbers stayed the same from quote till signing. Found the boat I wanted and Mike made if simple and easy. I highly recommend him.
Posted By: Mark in Frisco

Re: Classic Financing - 10/01/17 12:52 PM

Mr Kernan,
Are your rates comparable to credit union rates?
Thanks, Mark.
Posted By: Classic Used Boats

Re: Classic Financing - 10/09/17 10:56 PM

No sir Mark. I handle mostly secondary market boats and customers. My niche is boats older than 5 years that are more difficult to finance or older boats that are almost impossible to finance. I have also learned that I am a good outlet for some with less than perfect credit. My best rate starts at 9% currently.
Posted By: Classic Used Boats

Re: Classic Financing - 10/09/17 10:58 PM

I believe I have caught up with all the pms. Thanks Mark!

I check here every few days but if you need to catch me quicker, feel free to call or text. 214-679-5186.
Posted By: Larry Mosby

Re: Classic Financing - 11/02/17 04:30 PM

Do you offer credit life and disability for loans through your business?
Posted By: Classic Used Boats

Re: Classic Financing - 11/03/17 12:45 AM

Yes, I have an agent we can use to add that coverage.
Posted By: jcwebb70

Re: Classic Financing - 11/08/17 12:22 PM

Thank you to Mike for a quick, smooth transaction. Mike found exactly what I was looking for, got it rigged, motor serviced, and fiberglass touched up to my OCD standards, and in my garage. Showroom boat w/o the showroom price!!

Guys, Mike is much more concerned with his customers being happy with the purchase and getting it right the first time, than making the sale.
Posted By: Classic Used Boats

Re: Classic Financing - 11/13/17 01:30 PM

Thanks Jeff! I hope you enjoy your boat! My Dad sure is enjoying your trade in. Heck of an upgrade for him.
Posted By: Ranger Glass And Mirror

Re: Classic Financing - 01/18/18 03:13 AM

any new inventory for 2018?
Posted By: Classic Used Boats

Re: Classic Financing - 01/19/18 05:32 PM

Some of the boats that I have get a slight refurb before hitting the market. For anything that is ready, the photos are on my website at www.ClassicBoatLoans.com. Currently, I have the following that will be on the market soon: 2006 Ranger Z20, 2015 Ranger 119, 2006 Nitro 929, 2006 Ranger 519, 2014 Ranger Z520.
Posted By: Chuck72

Re: Classic Financing - 01/30/18 06:19 PM

Mike just handled all of the paper work for my Credit Union on a boat he had previously financed. I will say it was very smooth and painless. If my Credit Union wouldn't have financed me I certainly would have gave him my business.
Posted By: flukeman83

Re: Classic Financing - 04/13/18 06:24 PM

Posted By: The Crappie Detective

Re: Classic Financing - 05/18/18 06:34 PM

What are the interest rates averaging around this time
Posted By: Classic Used Boats

Re: Classic Financing - 06/11/18 12:17 PM

Depends on credit score. My niche is the older boats that banks will not usually do and my average rate is about 11%
Posted By: Michal76

Re: Classic Financing - 07/26/18 04:39 PM

Hi Mike, been trying to call you the last 2 days with n luck. I was wondering about the 1999 Ranger you have on you're site and if you may have any others for sale around $15,000.
Posted By: Classic Used Boats

Re: Classic Financing - 07/30/18 01:30 PM

Sure you have the correct number? 214-679-5186 I have it with me from 7am to 10pm. I have call waiting turned off. So if I am on the other line it goes straight to voicemail. Feel free to leave a msg.

I have a 1996 Ranger getting new carpet with a 200 EFI. Ready next week.
I have a 1997 Ranger with a 225 Evinrude getting new carpet. Ready in two weeks.
The 1999 will be ready in about two weeks.
I have a 1997 Bullet that will be ready soon also. It is the only one that is a little above your 15k number.
Posted By: Michal76

Re: Classic Financing - 07/31/18 01:56 AM

Ok, maybe we were calling wrong number. I wanted to stay around 15k or less to keep payments around 300. I have $3000 or so to put down. Can you send me any pic's of the boats?
Posted By: anthonyh821

Re: Classic Financing - 08/02/18 10:13 PM

I wanted to say thanks to Mike for the easiest financing deal Iíve ever been involved in. Mike even helped me while he was on vacation. Heís the real deal and donít hesitate to give him a call. Thanks Mike!!
Posted By: Classic Used Boats

Re: Classic Financing - 12/29/18 01:25 PM

It is just about boat buying time! Please give me a call if you are looking at the older bass boats and need financing. Even if your credit score is not what you want it to be, give me a call. You can check out my FAQs at www.ClassicBoatLoans.com for answers to most of your questions.
Posted By: chevyss2008

Re: Classic Financing - 01/09/19 09:31 PM

Hey Mike...I just posted a thread but maybe you can answer....Do boat loans have the option for death/disability ins on them?
Posted By: Classic Used Boats

Re: Classic Financing - 01/10/19 07:59 PM

Ken responded. We have talked about that in the past. If one of my customers needed it, I would use Ken for the insurance.
Posted By: steve@hydrodynamics

Re: Classic Financing - 03/20/19 04:30 PM


we started S2 Marine here i quitman,tx.

selling new Ballistic boats. send me some information on using you as a lender for our customers.

looking forward to working with you.

Posted By: Lunker23

Re: Classic Financing - 04/03/19 07:00 PM

Mike is a phenomenal guy to work with, I just paid off my Basscat with him and am looking at doing another loan. Mike is as straight forward as they come, and will always answer to help a fellow fisherman out. Thanks Mike!
Posted By: srobby24

Re: Classic Financing - 06/27/19 08:18 PM

I would like to give a big shout out to all the people at Classic Used Boats. They help me step into a extremely nice Skeeter FXi 21. The process was flawless and had the deal done in under 4 days. Mike is the man when it comes to boats. If you need a boat and have no where to turn or you just think you can't do it, give mike a call and he will do everything to get you into a boat. THANKS AGAIN MIKE

[Linked Image]
Posted By: formula462

Re: Classic Financing - 02/01/20 02:08 AM

Thanks for all your help Mike, from both me and the seller. Great experience.
Posted By: Eric S

Re: Classic Financing - 03/29/20 06:39 PM

Never financed a boat before and my credit is "Fair", what type of interest rates are we talking here and how many months can you get a boat loan for? I have always boat small boats , nothing over 1000 before. I am looking to buy a boat, nothing fancy, but need more info on the financing part.
Posted By: KYBluefan

Re: Classic Financing - 09/17/20 07:34 PM

pm sent.
Posted By: Hot foot

Re: Classic Financing - 09/19/20 11:26 PM

I just got finished up with Mike and Jeff on a loan for an outboard that I had found on the forum. Guys let me tell ya, they both made this process so simple and smooth for my purchase and are easy to work with! They both are stand up guys and would not hesitate one bit in referring anyone that I know who is in the market for financing. I will definitely be reaching out to them in the future! Thank you Mike, Jeff you made a customer for life!
Posted By: Downhomebaits

Re: Classic Financing - 09/22/20 04:27 AM

I've been looking to get a new to me boat. But when I talk to a salesman I'm told if it's under 18k no financial company will touch it. Would love to get a boat again but I don't have 15k just laying around. Pm me please sir.
Posted By: TBassYates

Re: Classic Financing - 09/24/20 12:26 PM

Mike and Jeff were awesome getting my son in law into his first boat so we can fish tournaments together. Thanks so much for making this happen for us.
Posted By: photofishin

Re: Classic Financing - 11/13/20 03:36 AM

I'm interested in getting an offshore center console in the 25-30ft range with twin screws. I can't afford the 120-250k range so I'm looking at older boats that are repowered with newer electronics. My max buy price to meet a 15-20 year loan seems to be in the 65k range and I have $9k to put down. I'll keep looking until I find something that fits but my main question is- can you work with offshore boats? Also can you keep the interest rate fairly low? My credit score is around 700 and improving.
Posted By: Classic Used Boats

Re: Classic Financing - 12/31/20 02:08 PM

Sorry, I stick with just the bass boats and some single engine bay boats.
Posted By: Classic Used Boats

Re: Classic Financing - 12/31/20 02:10 PM

I don't get on here too often to check messages, so please use my cell phone if you would like to contact me. Call or text work great. 214-679-5186. If you are already a customer, thank you for your business. If you are looking at the older bass boats, or have marginal credit, let me see if I can help.
Posted By: BrysonHuff

Re: Classic Financing - 09/14/21 09:32 PM

Would highly recommend mike to anyone. Helped me getting approved when no one else would with being 19 it is very heard to get lenders on board and he stepped in when no one else would. Great people to work with over at classic boats!
Posted By: BWolfe67

Re: Classic Financing - 10/01/21 09:20 PM

Originally Posted by BrysonHuff
Would highly recommend mike to anyone. Helped me getting approved when no one else would with being 19 it is very heard to get lenders on board and he stepped in when no one else would. Great people to work with over at classic boats!

How much did you have to put down???

Are here ways to finance a boat without a down payment???
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