boat loan for <$25,000 - SailNet Community
 
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post #1 of 5 Old 01-11-2010 Thread Starter
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boat loan for <$25,000

Does anyone know of a reputable outfit that does boat loans for less than $25,000? Most of the companies (like Essex) have a minimum of $25,000.
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post #2 of 5 Old 01-11-2010
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I doubt many would do loans that small. A credit union perhaps. Or try Prosper.com

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post #3 of 5 Old 01-12-2010
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a small local bank near you will for sure (assuming you meet the requirements) handle the loan. I actually got a better rate and terms with a local bank than the bigger boys...some times the selling broker will have a relationship with a local bank as well..

ask around
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post #4 of 5 Old 01-12-2010
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Went thru Boat US, turned out to be Key Bank who has a boat division. Rate was good and you can finance < 25K for up to 10 years if needed.
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post #5 of 5 Old 01-12-2010
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Quote:
Originally Posted by CoralReefer View Post
Went thru Boat US, turned out to be Key Bank who has a boat division. Rate was good and you can finance < 25K for up to 10 years if needed.
Key Bank is getting pretty restrictive on boat loans. They dont even offer loans in Florida...which is somewhat of a red-flag all things considered.

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