Boat loan

[sprice1984]

Looking into getting a new boat. Question is does anyone here know what scoring model is primarily used for this. And if if you work for a boat lender can you tell me what model they use. Thank you 

[sprice1984]

No body 

[JoeRockhead]

I don't think anyone is going to be able to answer your question without knowing what lender you're dealing with. Outside of manufacturer branded financing, boat loans can come from a variety of banks and credit unions.

[Slabenstein]

There's no particular score that's widely used for boat loans.  It's going to be whatever the particular lender uses (same as it is for credit cards, auto loans, personal loans, etc).  When I did boat loans, that institution used TU8, but you'd be as likely to find an instituion using any other commonly-used score.

[sprice1984]

Looking for what model is widely used with marine lending. 

[sprice1984]

Thanks for the reply. Do you remember if it was the auto model that was used or the regular fico 8 model.

[Slabenstein]

There's no model that is the model widely used in marine lending, because what is used will vary by lender, as we've said.  At the institution where I did boat loans, it was a regular FICO8 score, but that tells you nothing about what any other particular institution would use.

[pizzadude]

Not a lot of recent threads but this one has a few data points on boat loans / financing / scores.

Also I'm moving this to Auto Loans for better visibility