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Old 07-13-2002
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Confused with Credit

I found that there were very big variations between the various loan sources in rates and in restrictions. One thing that surprized me is that one company had a list that rated the ease with which different models seemed to resell and if you were looking for a boat on that list the wanted more money down. Age was a common theme. I bought a 1983 model. If the boat was 20 years old most said it fell in a different category and I would have had to put down a lot more money.

I ended up going through Lisa DiDomenico at Trident Funding Corporation in Annapolis. 888-386-3121. She was great to work with and the whole process was very painless. They offered really good rates and gave me no heartburn about the age of the boat (but as it turned out I ended up putting up a lot of cash for other reasons.

Good luck,
Jeff
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