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Thread: Boat Financing

  1. #1
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    Default Boat Financing

    I'm in the early stages of looking at boats. Any suggestions on where to get financing? Naturally I'll do my own search, but I'd like to hear what others suggest. Thanks ...

  2. #2
    Member JR2's Avatar
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    I got my loan with Northrim, but I know a bunch of folks on here have used CU1 and we're quite happy. Northrim beat CU1 when I got the loan three years ago.

    Sent from my phone while I should be working.
    2007 Kingfisher 2825 - Stor Fisk

    Civilization ends at the waterline. Beyond that, we all enter the food chain, and not always right at the top. -- Hunter S. Thompson

  3. #3
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    Here is an interesting article on the boat market.

    http://tradeonlytoday.com/home/52663...ains-in-august

    Now the question is, is this due to more people using brokers or because more people overall are buying used boats.

  4. #4
    Sponsor potbuilder's Avatar
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    YW editorial director writing the article ?? of course he's going to pump up his business !!

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  5. #5
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    I just went through CU1 and they were great. 3% for 84 months, and they will loan up to 90% of the value or survey. If you want or have to go longer the interest rate goes up. I didn't have an account with them but was able to have my credit run and all my info entered into their system and the underwriter accepted all within minutes. The girls running the Kodiak branch have it nailed. I will go with them on my next boat, truck, atv ............. And I am a long time AK USA guy.

  6. #6
    Member Dan in Alaska's Avatar
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    I've had nothing but positive experiences with CU1 and boat loans...great interest rates and they were quick and efficient with the paperwork.

  7. #7
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    When i got my new raider last year, I went with Advantis CU out of portland, Oregon, you need some connection to OR or WA to use them and my wife's parents still reside north of Seattle. I got a 15 year note for 4.78%......even on a new rig, many other places wouldn't go more than ten. We're paying on it as if it was a 7 or 8 year loan, but if poo ever hits the fan, I don't want the bank demanding what a 7 or 10 year note would have been per month.

    They were great to work with and continue to be and were the best fit for what I wanted. If you are good with a ten year or less, the Alaskan banks and CU's were pretty good.

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