Bad credit boat loan

[amckee]

Ok before we get into the you don’t boat a boat with bad credit nonsense i didn’t come here for that answer .

However I’m looking for insight

I have a 599-605 fico
Have 4500-5000$ to put down on a 10.000$ boat loan

I’m wondering if anyone should have some info at the chances i have if getting approved

I have a few lates on my old auto loan that’s now paid off

And have been current on my 3 credit cards and current auto loan. For the last last 7 months

Have one medical collection for 1800

One charge off with one main for 2800

[sccredit]

There are lenders that offer "sub-prime" financing on toys such as a boat.  Merrick Bank is one that comes to mind.  Most all will be dealer apps and not available outside of a dealer. 

[Anonymous]

You wanted a 4K loan for an ATV, you want a 10K loans for a boat. You have charge offs and late payments...

smh

[Anonymous]

@Anonymous 

Let's refrain from making judgements.  If you have questions, ask OP.  The goal is to asnwer directly to what is asked.  If you offer criticism, perhaps, you should also offer a solution?

We don't know OP's situation and although they might have racked up late charges, maybe their situation has changed?  Who knows...

[Glen_M]

With around 50% down, someone will probably approve you.  Expect a high interest rate, and probably on a CFA.

[Caardvark]

My 1.5 cents:

With 50% down I suspect someone will give you a loan, albeit at a very high interest rate

That said, what is the severity of the late payments (e.g. 30-days, 60-days, 90, etc)? And, how many?

Depending on theit severity, it is possible that PFD'ing the two collections could raise your score significantly, allowing you to get a loan at far more attractive rates. Then, you might be able to get a loan with similar monthly payment but much less down payment. And, you'd have better scores for other wants/needs.