You might try looking at credit unions rather than boat specific lenders. For example, I have a boat loan with Transportation Federal Credit Union, who it looks like has rates as low as 2.74% right now for boat loans. It was harder for me to convince them that I could join their credit union than to convince them to loan me the money
. Granted I didn't have many of the challenges you have from a credit perspective, but my impression was that they lump boat loans with car and motorcycle loans and treat them all exactly the same, so if you think you could easily get a used car loan you could probably easily get a used boat
loan from them. Credit unions are small time and often don't have the overactive imaginations of you taking your boat and absconding to Fiji
with it like the boat specific guys do, and in fact their underwriters often are handed a set of rules and they just apply them without contributing any of their own thought at all. That can be often be frustrating, but in situations like this you can use that to your advantage. For example, they also don't ask me to show that I have any insurance
on the boat, and due to some mix-ups with the Coast Guard registration
they weren't even listed on the title for more than 6 months and they seemed surprised when I finally delivered it to them unasked!