Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 13-11-2009, 16:10   #16
Registered User
 
barefoot life's Avatar

Join Date: Oct 2009
Location: Spokane, WA
Boat: Beneteau 43 - Barefoot Life
Posts: 8
This summer, we obtained a loan for a new Beneteau. We used Cindy Lewis with Newcoast Financial. I thought the whole process went smoothely. I was able to obtain the loan amount I wanted (both dollar and percentage of purchase). All application material and information requests seemed reasonable and appropriate. I would also say there is nothing extraordinary about our finances or credit score. All in all, I was pleased with the overall experience.

I also had to specify a boat in the original application. Did not see a problem with doing that - I ended up buying a smaller boat and getting a smaller loan than originally approved for. I did not have an issue with this approach.
__________________

__________________
barefoot life is offline   Reply With Quote
Old 13-11-2009, 23:27   #17
Registered User
 
mdsilvers's Avatar

Join Date: Mar 2009
Boat: Antares 44i - Field Trip
Posts: 93
Thanks everyone for your input. Very helpful.
__________________

__________________
mdsilvers is offline   Reply With Quote
Old 14-11-2009, 03:10   #18
Registered User

Join Date: Jun 2008
Location: Corpus Christi Texas
Boat: boatless atm
Posts: 724
Send a message via MSN to bobfnbw
First boat I fininanced was ~8 years ago, wasn't hard to get the loan. Good Terms, used essex credit thru key bank.

Then we wanted to move up. Had the down payment, good credit scores, good income. No dice. Could not get a loan on anything we wanted... (~ 50 ft )

Then last year was able to get good terms thru my bank, USSA. Great rate as well considering it was for a boat. There is money out there, but you might have to jump thru some hoops. In the mean time continue to save and don't let your score go down in any way, so that means not only making sure your payments are on time, but also, using your credit. They don't like it when you just pay and not use... I hate these guys, but thats another story.

Bob
__________________

__________________
SV Sarah Claire blog... http://sarah-claire.blogspot.com
bobfnbw is offline   Reply With Quote
Reply

Tags
financing

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Canadians - Boat Financing Lodesman Dollars & Cents 14 12-10-2016 07:19
Financing a boat for liveaboard sneuman Boat Ownership & Making a Living 58 19-07-2012 15:57
Boat Financing Sucks kevingy Dollars & Cents 57 19-05-2009 10:14
Financing Older vs Newer Boat - Eventual Depreciation swabbmob Dollars & Cents 33 11-07-2008 04:31
Boat Financing In The Midwest CCantagallo Dollars & Cents 1 07-05-2008 04:23



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 17:25.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.