Financing help please??

[hibanx]

I am close to pulling the trigger on a 1979 Hatt 43C. I have found that most banks will not lend money on older boats. Can anyone reccommend a lender that specializes in older boat loans? I am in Florida and would prefer a local agency. Anyone had a good or bad lending experiece? I need as much info as possible. Thanks.

 

[jcchev]

Essex Credit seems interested in financing a 1971 Chris Craft commander that I'm considering. They're in Houston. Talk with Donna Ryan.

Good luck.

Clint

 

[holtcl]

also search previous threads on this. I think we posted awhile back on some info we got from Annapolis boat show. seem to recall that trident funding was a candidate.

 

[jcchev]

When I checked with Trident I was told they would only go back to 1980.

Clint

 

[gracie]

Sterling Associates. They are in Massachusetts. I think their bank is in Maryland. They will finance quality yacht names (Hatteras!). You may have to put 20% down instead of 15% being prior to 1980. Ask for Shawn Rogan. Rates have dropped!

 

[fissioneng]

Shawn at Sterling is a good source. I used him in 2007 and financed through Wachovia (now Wells Fargo). I did put a lot down.

 

[Jackman]

If you're a member of a credit union check them...I walked out of mine after 10 minutes with a loan for my boat....the loan for the repower to diesel was done over the phone while driving to dinner. Mine is of 1985 vintage..

 

[hibanx]

Thanks for the replies. I will make some calls tomorrow.

 

[holtcl]

one of the finance companies told us they were only financing the 'older' boats in Hatteras, Viking, and Bertram; not sure if that was Trident or another, memory is not helping out this morning.

 

[psquiggs]

I will second sterling associates. They are based in Massachusetts.

.sterlingboatloans.com[/url]

 

[hibanx]

I just submitted online applications with both Essex and Sterling. I will report back with rates and their willingness to finance old Hatteras' in case anyone is else is interested.