Older Boat Financing Rant

[Target9000]

When we bought our boat we had the same eye opening experience. We could NOT get a loan for the small amount we had to pay for ours on account of age. It is very frustrating, but it is what it is. We still took a loan out but it was a private secured loan at a higher interest rate and paid it down within a few months.

I blame statistics.

There are lies.
Then there are damn lies.
Then there are statistics.
And guess what banks typically rely on.