topic Re: Boat Loan in Auto Loans

Boat Loan

Anonymous — Thu, 09 Jul 2009 14:54:43 GMT

Was wondering if anyone out there has been approved for a boat loan with just under 620 credit. I would like to get one, I would trade my current boat in (about 5K value). I want to do this to obtain better credit history, also to upgrade. I have paid off all old debt and only have a $388 car payment a month. I make $50k a year.

Re: Boat Loan

Anonymous — Sat, 11 Jul 2009 13:14:21 GMT

I'm not a boater, but it sounds like you might be a good candidate to talk to a credit union about a boat loan.

Good luck!

Re: Boat Loan

Anonymous — Sat, 11 Jul 2009 13:53:17 GMT

Alliant, PenFed and NFCU will finance a boat. I believe Alliant and PenFed will only loan "book value" so you have to check into that.

I recall the rate being 7.5%. But this was for my brother with scores in the 730 range.