Sailboat loan companies? United States.

[Tim francis]

Does anyone have any input on sailboat loans? I have great credit and looking for around 100000 dollars. I’m located on Maui and have a steady captain job. 40 years old single no kids no debt. I have 15000 for whatever reason. I’ve googled sailboat loans but would like a heads up on what to expect before I talk to lenders. I am interested in hearing about certain companies in particular you have used. I appreciate any feedback and help. Mahalo.

[john61ct]

Do not tell them if you plan to liveaboard.

Likely you'll need non-mobile collateral like real property.

See what you could raise on a completely unsecured personal basis first as a starting point.

[iSaint]

Essex Credit are reliable from my research.

Check with your local credit union, too.

[Tim francis]

I started with tow boat us. The boat has to be a 1990 or newer. They also don’t deal with Hawaii. They gave me info on a company in California. Trident funding. I’ll start from there tomorrow. I’m finally off work tomorrow. The time change is difficult. I’ll update this thread as I go through this process. I’ve always paid cash for most of my boats and used personal loans I paid off quickly. I’m looking in the 100 thousand range this time.

[nightowle]

Trident Funding is a good source. Also, if Key Bank is in Hawaii - they are good at making boat loans. You may want to try local credit unions. They usually have boat programs.

[Tim francis]

None of the credit unions do boat loans here. I believe if I was ex military, there was one that could help. I just remember going to every credit union on Maui and they all said no boat loans.

[Tim francis]

Doesn’t look like there are any key banks in Hawaii

[Joe28532]

I used lightstream. Couldn't be happier with the rate and the process.