assuming good past credit and a loan in the 50-70K range for a 1970s fiberglass sailboat with a good survey?
Just a general sense would be helpful, as I have no specific boat in mind as yet.
2007-01-13 21:38:15 · 6 answers · asked by Brendan G 4 in Cars & Transportation ➔ Boats & Boating
Well it of course depends on how good or bad your credit is...
But all so plan on having at least 10% down and A survey is generally required for boats older than 5 model years.
Most finical institutions only provide financing for boats of fiberglass or metal construction. Boat loan requests of less than $100,000.00 must be less than or equal to 10 years of age. Boat loan requests of more than $100,000.00 must have been manufactured after 1975. In addition, boats used as a primary residence, in commercial trade, or fleet service are not eligible for financing.
2007-01-13 21:45:04 · answer #1 · answered by Hawk996 6 · 0⤊ 0⤋
As already stated it depends on your credit rating and the age of the boat. There are plenty of companies that specialize in boat loans only, just type in "boat loans" on yahoo search. Another way you can get the money if you own a home and have equity in it is to take out a home equity loan. They don't ask what the money is for and you get to write off the interest payment at tax time!
2007-01-14 03:25:34 · answer #2 · answered by mark t 7 · 0⤊ 0⤋
should be a piece of cake. you'll probably need 20% down, but you can get up to 12 years financing...assuming you're in the US.
2007-01-14 02:11:00 · answer #3 · answered by Anonymous · 0⤊ 0⤋
518 Boat Plans : http://BoatPlans.NaturallyGo.com/?wrV
2016-04-02 20:08:40 · answer #4 · answered by ? 3 · 0⤊ 0⤋
Very Hard to find financing on a vessel over ten years old.....
so sorry
2007-01-14 02:56:40 · answer #5 · answered by captbryguy 5 · 0⤊ 1⤋
You may sail her away and sell her off and claimed that she was lost at sea and get a bigger one...
2007-01-13 21:47:31 · answer #6 · answered by Anonymous · 0⤊ 3⤋