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Old 11-07-2016, 14:24   #1
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Join Date: May 2016
Location: Palmetto, FL
Boat: "Yacht-a Yacht-a" -- 1986 Chris Craft 42' Catalina 426 Aft Cabin
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Financing Recommendations

Afternoon all.

So, we found a 1986 boat that the surveyor put as being in "Bristol" condition and valued at $84,200. My FICA score is in the high 770s and we have only modest, very affordable auto and mortgage debt.

The yacht loan specialist placed us with a credit union that had to be argued with to get them up to the point of 25% down plus sales tax and fees. That's ridiculous.

We're looking for a lending institution that will do 85% of survey value on a 30 year old boat. Any suggestions?


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Old 11-07-2016, 14:30   #2
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Join Date: Dec 2012
Location: Chesapeake Bay
Boat: Alberg #0
Posts: 268
Re: Financing Recommendations

Amazed you were offered that. Finding better will be tougher on an 80's boat.

My advice, start looking at smaller boats and leave plenty for a repairs kitty, even if it's 'bristol' .

Good luck!

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