Boat Financing??

[MchMan616]

Does anyone have information on typical financing for a used sailboat in
the 33' to 37' range?? down payment required?? Length of loan (5 yrs, 10
yrs, etc.)?? Also would like any recommendations for finance companies
that specialize in boats..

Thanks!!

[Richard Kling]

Boat financing is currently as low as 7.99% and usually requires 20% down.
You can usually finance the cost of the boat, equipment ad ons, and
sales tax at up to 80% of the appraised market value of the boat. Some
banks require a boat to be less than 10 years of age, and a minimum loan
amount, ie 50 or 75K, to qualify for their best rate, and of course, good
credit.

Some companies that offer boat loans are Ganis Corp, Dimen Marine, Essex
Credit Corp and National Horizon.

Rich Kling

[Peter Brennan]

On Jan 31, 1996 04:16:08 in article <Boat Financing??>, 'mchm...@aol.com

(MchMan616)' wrote:


>Does anyone have information on typical financing for a used sailboat in
the
>33' to 37' range?? down payment required??

Down payment 25%

Length of loan (5 yrs, 10 yrs,
>etc.)??

Could be as long as fifteen years.


Rate today hovers around 8% on amounts over $25,000. Indeed, yu might have
a hard time finding a lenedr that will look at less thasn $25,000.

> Also would like any recommendations for finance companies that
>specialize in boats..

Check the boating publications. Dozens of lenders there. You could start
with Boat US. Bear in mind that the finance company is a broker. A bank
will be the actual lender. But banks seldom make boat loans directly
anymore having been badly burned a while back. The marine finance companies
know the business, are very helpful and area competitive. Shop around for
the best terms. A tenth of a point on the rate matters a lot.

[acss...@acs.eku.edu]

In article <4eou1m$1m...@usenetw1.news.prodigy.com>, CNM...@prodigy.com (Richard Kling) writes:
> mchm...@aol.com (MchMan616) wrote:
>>
>>Does anyone have information on typical financing for a used sailboat
> in

>>the 33' to 37' range?? down payment required?? Length of loan (5 yrs,
> 10
>>yrs, etc.)?? Also would like any recommendations for finance companies
>>that specialize in boats..
>>

>> Thanks!!
>
> Boat financing is currently as low as 7.99% and usually requires 20% down.
> You can usually finance the cost of the boat, equipment ad ons, and
> sales tax at up to 80% of the appraised market value of the boat. Some
> banks require a boat to be less than 10 years of age, and a minimum loan
> amount, ie 50 or 75K, to qualify for their best rate, and of course, good
> credit.
>
> Some companies that offer boat loans are Ganis Corp, Dimen Marine, Essex
> Credit Corp and National Horizon.
>
> Rich Kling
>

If you are a member of a federal credit union, check their rates...

Dudley Cornman
Systems Programmer
Academic Computing Services - EKU
ACSS...@ACS.EKU.EDU

********************************************************************
*** When it comes to boats... ***
*** I'd rather have a new boat than a used boat... ***
*** I'd rather have a Baja than a Bayliner... ***
*** I'd rather have a used Bayliner than no boat at all... ***
********************************************************************