Thread: College student

Results 1 to 5 of 5
  1. #1
    Member
    Join Date
    Jan 2019
    Location
    Westville ok
    Posts
    32

    College student

    I’m a college student looking at buying a used boat, the boats I’m looking at are in the 15-18k range, my question is being in college I don’t have a lot of credit history, what companies would be willing to finance a used boat for a college student without a lot of credit history?

  2. Member
    Join Date
    Oct 2017
    Location
    St. Peter, Minnesota
    Posts
    3,293
    #2
    My first boat I bought on credit I financed through my credit union. Same price range you’re shopping, they were fair.
    2019 Ford F-150 Platinum (3.5EcoBoost/10spd)
    **Listed FOR SALE**2014 Ranger Z119C w/ Evinrude ETEC 225HO Running Croxton’s Razor 4XL 25P
    Helix 12 Mega G2N’s with Ultrex
    Think like a fish, no matter how weird it gets

  3. BBC SPONSOR
    Join Date
    Dec 2009
    Location
    Michigan
    Posts
    1,876
    #3
    Quote Originally Posted by addileehunter View Post
    I’m a college student looking at buying a used boat, the boats I’m looking at are in the 15-18k range, my question is being in college I don’t have a lot of credit history, what companies would be willing to finance a used boat for a college student without a lot of credit history?
    Most lenders don't like to see a "toy" be the first real installment type loan a person gets. So younger guys have had a parent join as a co to add some history. The bureau reports the same if you are first or second on the loan. It's the old chicken and egg thing, you need credit to get credit. The key is what is first in your history.
    Let us know if we can help.
    Thank you,
    Ken
    (517) 543-6921 - Office

  4. Member
    Join Date
    Jan 2019
    Location
    Westville ok
    Posts
    32
    #4
    This is the second boat for me I bought my first one 3 years ago, and paid it off, so I have some credit but not a lot, my first loan I got through our local bank but they are crazy high on interest

  5. BBC SPONSOR
    Join Date
    Dec 2009
    Location
    Michigan
    Posts
    1,876
    #5
    You might have a shot if the history recorded on your bureau. Keeping the dollars lower diffidently helps. The only thing to watch out for is model year. Some lenders charge more for older units.
    Thank you,
    Ken