Boat Loan

[Anonymous]

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. 

[Anonymous]

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!

[Anonymous]

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.