boat loan for <$25,000

redstripesailor · #1 (**permalink**) 01-11-2010

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.

night0wl · #2 (**permalink**) 01-11-2010

I doubt many would do loans that small. A credit union perhaps. Or try Prosper.com

kd3pc · #3 (**permalink**) 01-12-2010

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
dave

CoralReefer · #4 (**permalink**) 01-12-2010

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.

night0wl · #5 (**permalink**) 01-12-2010

Quote:

Originally Posted by CoralReefer

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.