Marine financing - SaltwaterCentral.Com

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Marine financing - SaltwaterCentral.Com
Marine financing - SaltwaterCentral.Com
Marine financing - SaltwaterCentral.Com
February 20, 2019 1:50 am EST
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Marine financing - SaltwaterCentral.Com

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Aquaholicnc
Ol'Salt
Ol'Salt


Joined: May 07, 2015
Posts: 303
Location: Hampstead

PostPosted: Tue Feb 05, 2019 12:04 am    Post subject: Marine financing Reply with quote

Guys, I am considering a move from the mortgage business into Marine finance. It lines up better with something I truly love.

I am looking for your experiences, both good and bad with companies you may have used in the past.

Thank you in advance!
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fishing-misfit
1st Mate
1st Mate


Joined: May 15, 2015
Posts: 62
Location: Hampstead NC

PostPosted: Wed Feb 06, 2019 11:42 am    Post subject: Reply with quote

I purchased a new 24' bay boat in Nov. The dealership said they don't do anything with the financing portion other than the sale, but it worked out perfect. He gave me a couple business cards for boat finance companies. I was still on the fence about which boat I was buying between 3 different manufactures/dealers. I called the finance company in Wilmington, gave them the number of the highest price boat (before neg.) I was looking at with the sale tax cap and told him what I would be putting down in cash. He told me to go on their website and complete credit app, he called within one hour and told me everything was ready to send to the dealership I choose. I liked getting with financing guys myself, not being 100% sure on which boat I was getting but I was set up with pre-approval for either boat I was looking at. I did purchased the boat from the dealership that gave me the financial company info, but was nice to have the option.
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wampler24
Ol'Salt
Ol'Salt


Joined: Mar 01, 2012
Posts: 632
Location: Greensboro, NC

PostPosted: Thu Feb 07, 2019 8:21 pm    Post subject: Reply with quote

I financed with Essex (Bank of the West) It would take me hours to explain the headache I had to go through.

My only piece of advice would be to stay in contact with your customers. Don't make them chase you down. I went with them simply because their interest rates were the lowest around but dealing with them, getting all of the info they needed and I needed was an absolute nightmare. Took 2 months to get the money to the seller because of all the BS they forgot to send me or him. Lots and lots of shipping of paperwork.... I think I would gladly now pay a little higher interest rate for better service. I dread selling the boat because I know fo the headache I face.
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flatbottom
Ol'Salt
Ol'Salt


Joined: Mar 19, 2012
Posts: 177
Location: Sneads Ferry

PostPosted: Thu Feb 14, 2019 11:34 am    Post subject: Reply with quote

I sent you a PM
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