Bad Credit Boat Loans – Correct Navigation is Key!

Bad Credit Boat Loans
Ahh… just the thought of being able to land Bad Credit Boat Loans is a cool relief. Getting the funding you need produces instant images of fun in the sun, sailing on the ocean enjoying the breeze, relishing and enjoying life to the Fullest! Can it really happen in spite of bad credit? Well one thing’s for sure, We will do our Best to navigate you to Boat Loan Funding designed for You.

The great thing is…

Lenders of bad credit boat loans are far more lenient that all other funding sources. They understand the nature of this type of loan is generally of personal desire, and they like to assist people in fulfilling their desires of marine life.

But although they are lenient, they still have a business to run and they are definitely not in the business to lose money. Understandably so, Bad Credit boat loans will contain higher interest rates and possible additional fees to factor in bad credit loan risks.

There are all types of loan arrangements: fixed, variable rate, seasonal loans, etc. When speaking with potential lenders, you must discuss payment arrangements that are best and most convenient for your budget.

All things considered, we’d recommend that you secure a fixed rate in order to limit any financial surprises. However, the choice is up to you. Compare thoroughly before signing on the dotted line.

Private lenders and credit unions, rather than larger banks would most likely finance this kind of loan. Private lenders ranging from individuals, small companies and personal lenders can get things sailing the right way for you.


Although bad credit boat loans are easier to secure than most, your credit still can make a big difference in the types of loans you’re offered. We advise you to get a copy of your credit report and clear-up as many negative marks as possible.

This can greatly improve your chances of getting a more desirable loan. Remember: The better your credit, the less interest and fees you can expect.


With personal loans of this nature, securing the loan with some sort of collateral can help you get a faster deal toward the financing you need. This will put lenders at ease a bit because it gives them something to fall back on financially if for any reason you should default on the loan.

But we know you wouldn’t dare further damage your credit by doing something that now would you? Of course not. But they don’t know that. Therefore, offering to secure the loan with an article of value can greatly put lenders at ease.

Down Payment

If you can afford a down payment of at least 10%, this will greatly improve your chances of securing a loan. Lenders feel that if you’re willing to invest some money in yourself, then perhaps it is a safe idea for them to go ahead and invest in you as well.

boat loans for bad credit

Terms /Length of Loan

The good thing about Bad Credit Boat Loans is that they can be structured for short-term financing — or you may be able to get the loan stretched out up to 30 years for maximum payoff time. Don’t know if you’d really want to extend it that long for this type of purchase, however, it can be an option depending on the lender.

Private and Individual Sellers

At this site there are a lot boat listing from individuals, brokers, private sellers, and companies and you might just find a great low cash deal. Chances are you may be able to make financial arrangements with independent sellers (which oftentimes is more flexible).

The creative financing possibilities are endless. At the site linked above you’ll find new, used, bargain boats i.e. discounted wholesale and clearance as well as scratch & dent specials.

Home Equity Line of Credit

Another route to consider is getting boat financing through a home equity line of credit. Being that home equity loans can be cheaper than other loan forms and interest is tax deductible, this could serve as a reasonable route to get the boat financing that you need. Who knows? perhaps you’ve been sitting on the funding you needed all along and it just never dawned on you.

Trade – In

If you have an old boat sitting around somewhere, don’t just assume it’s a worthless piece of crap. It could possibly hold some trade-in value that can reduce your boat loan significantly. Be sure to discuss trade-in details with all potential lenders of Bad Credit Boat Loans

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