As a full-service financial institution, CU SoCal prides itself on offering incredible rates on loans to our Members. Ready to head to the water? Apply online for your boat loan today!
CU SoCal provides access to convenient money management services and offers competitive rates and flexible terms on auto loans , mortgages , and VISA credit cards —turning wishing and waiting into achieving and doing.
Interest Rate. Loan Amount. Calculate Loan. Your Monthly Payment is: Apply Now. Desired Monthly Payment. Helpful Terms and Phrases Monthly Payment What you're paying out of pocket every month to repay your loan.
Interest Rate Interest rate accompanying this type loan. Amount Owed On Trade Total loan balance outstanding on the trade-in.
Frequently Asked Questions How do I get a boat loan? How do boat loans work? What information do I need to apply? How long will it take to get a decision? Can I get a mortgage on a boat? Do you offer pre-approvals? What credit score do I need to get a boat loan?
Can I get a boat loan with bad credit? How do you evaluate my application? What is the duration of a boat loan? How does the closing process work? Can I finance a yacht? How much can I afford? How can I check the value of the boat I'm buying? What are the available financing options?
Charges origination fee. No mobile app to manage the loan. Qualifications Minimum credit score: None. Must be at least 18 years old. Valid email account required. Personal bank account with U. Available Term Lengths 3 to 5 years. Disclaimer The full range of available rates varies by state.
APR 7. Key facts Peer-to-peer lender Prosper has rates and fees that compare to other lenders for good-credit borrowers. Pros Option to change your payment date. Offers joint loan. Cons No rate discount for autopay. Charges origination and late fees. Qualifications Minimum credit score: ; borrower average is Minimum credit history: 2 years. No bankruptcies filed within the past year. At least three open accounts on credit report.
Fewer than five credit bureau inquiries in the last six months. Must provide Social Security number and a U. Fees Origination fee: 2. OneMain Financial. APR Credit Score None Average score is - Key facts OneMain is an option for bad-credit borrowers, but it comes with high starting rates and an origination fee.
Pros Option to choose your payment date. Offers joint and secured loans. Cons Rates are high compared to other online lenders. No rate discount for autopay.
Available Term Lengths 2 to 5 years. Disclaimer Not all applicants will qualify for larger loan amounts or most favorable loan terms. Secured boat loans. Bank of the West. How boat loans work. Unsecured boat loans. Where to get a boat loan. Online loans. Bank loans. Credit union loans. Boat loans: Questions to ask before you apply. Alternatives to taking a boat loan.
Last updated on March 31, To recap our selections Frequently asked questions What are typical boat loan terms? Can you get a loan for a used boat? What credit score do you need for a boat loan? LightStream Check rate on LightStream's website.
Check rate on LightStream's website. Upstart Check rate on Upstart's website. The borrower can make additional payments to reduce the overall expense, but the payment amount will remain fixed for the duration of the loan. As previously mentioned, the interest rate will mostly be dictated by your credit score, the size of the down payment, and the term and size of the loan. Lenders will require you to have insurance on the boat in order to get approved for financing.
Also if looking into extended and enhanced warranties to cover various operational breakdowns, lenders will often permit you to roll the cost of such a warranty into the loan. When financing a larger boat, note that your experience can indeed come into play in the lending approval.
Lastly, lenders may want to know where you plan to store the boat. At Tom George Yacht Group, our goal is to simplify the financing process, secure the best financing terms for our clients and help buyers clearly understand the financing options available to them. We take an educational approach to financing with an aim towards long-term relationships. Our finance professionals will educate you on your options and help ensure you make the right decision for you.
With an emphasis on your long-term satisfaction, Tom George Yacht Group is focused on building relationships with customers that regularly recommend TGYG to friends and family. If you have any questions on boat loans or financing a boat, please contact us today. What Are Boat Loans?
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