Financing a used 380/390 help

NotHerDecision

NotHerDecision

Well-Known Member
Jun 28, 2016
2,173
Houston, Texas
Boat Info
2001 Sea Ray 460 Sundancer
2014 Seadoo 155 LTD
2105 Seadoo 130 SE
2013 Mercury Dinghy
Engines
Cummins 6CTA 8.3L
All

I really like the 2002-2004 380/390/410 boats. I am being told in order to finance a boat it needs to be less than 10 model years old. Can someone point me in the right direction to someone who finances older boats? Or... Is it just plain not worth it?

Thanks for any advice/options.

Josh


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fdough1 said:
I went thru Trident Funding in Annapolis MD.


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Did you all call them directly or go through a broker?

Thanks

Josh


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Call Robert Dunford - Trident Funding - rpdunford@tridentfunding.com - he is located out of the CT office. Ive used him 4x for financing. He makes it very easy and always had the best rates.
 
i used lightstream. they do no collateral loans and cater to those with better credit and higher incomes (still not sure how i slipped by them...lol). lightstream is owned by suntrust and it was the easiest loan i have ever went through. filled it out online and faxed in pay subs and had the funds in my account the next day. they aren't concerned with the year etc of the boat. i hadn't even found mine yet when i had applied
 
Ok so Essex and trident... Anyone else I need to call? I am in Texas if that matters.


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The age of the boat at what you are looking for should not matter. I bought a 2001 410 last year and used Key Bank. Best intrest rate at that time under 4% for 15 years.
 
Freedom federal credit union in Belair Md. Has done three for me and they are simple , easy, great rates. They are awesome to work with.
 
Any credit union will finance a boat older than 10 yrs old. Or check with a smaller, local bank too.
 
I checked with my bank and credit union. They will only do 5 years. I really want 10 if possible.


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same with my credit union. i think 10 years was the oldest they would go but they also were at 10% interest. and it had nothing to do with credit scores. i didn't even give them my name when i inquired so it had to have been arossed the board. lightstream gave me i think 5.5%
 
I looked at lightstream, cool concept but they only go 84 months and rate is 6.49. Key bank and US Bank are not in Texas. Essex seems to be the best deal at 4.57% and 10% down payment. I have not called trident just yet. Any others you pros recommend using?

I also called the local credit unions but they only want to go to 100k and 5 year loan.

Thanks so much for all of the responses.

Josh

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My current loan was done through Essex as part of a Costco program that's been discontinued. I would recommend JustBoatLoans (www.justboatloans.com). I've also had loans with Bank of America but I think they have gotten out of the business.
 
I've used global marine finance on both of my recent boats. Really good rates (in the 4's). Current boat is a 2006 44DA and bought it last summer. They went to 20 years since it was less than 10 years old. Previous loan was on a 12 year old boat (Donzi 39ZSC) and they went to 15 years
 
I'm not seeing a website for global marine finance. Do you have a contact?


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Boat US also does financing and you can initiate online. My last loan on a 2004 390 was with First Merit Bank and also Suntrust has great rates as well. Good luck!
Rob


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Harris marine financing. Robin Harris was great to work with. Very easy. 6% for self employed. Not bad for my first boat loan. 410 643 7097. I just finaced a 1996 Sea Ray 450 da.
 
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