SeaDream can help people that have less credit or than-perfect-credit challenges with flexible boat funding options. SeaDream’s Bad Credit Boat Loans Department focuses primarily on mid-tier credit score and sub-prime marine funding programs.
Our mid-tier programs will allow you to secure competitive funding while you may well not be eligible for today’s prime price. SeaDream now offers sub-prime motorboat funding programs, that allows one to re-establish / rebuild your credit score while experiencing the fun lifestyle that is boating.
With funding up to $100,000, SeaDream’s mid-tier and sub prime motorboat funding programs offer many different choices to be practical.
Bad Credit Boat Loan Terms
- Loan Terms up to 15 years
- Simple Interest Financing without any Pre-Payment Penalty
- Standard Fixed Speed & Temporary Fixed Products
- Interest levels change from 9.95 – 17.99%
You meet the following minimum qualifications before you apply please review the following to ensure:
1. Loan Qualifications:
- Minimal Advance Payment: 10% +
- Boats Might Not Be Over The Age Of fifteen Years
- Devices That Don’t Qualify: High End Boats, Commercial Vessels, & Houseboats
2. Credit Profile Parameters:
- Credit Score / FICO rating should be 550 or Above
- If you’re uncertain exactly what your credit that is current score, simply simply click Credit Reports to obtain a duplicate of one’s credit history.
- Combined Unpa
How exactly to use / next actions:
A) If you meet with the Credit Profile Parameters here please apply. When you have any questions be sure to phone 949-515-0055 to learn more about our mid-tier and sub-prime marine funding programs. Our service-oriented and friendly staff of experienced ship finance specialists will be able to work you the boat of your dreams and get your credit rating back on track with you, one-to-one, every step of the way to get. * (see disclaimer below)
B) above you may not qualify for our sub-prime marine loan financing programs if you have not met the Credit Profile Parameters noted. We highly recommend that you maybe not make an application for that loan unless you’re fairly certain that you’ve got met the typical Credit Profile Parameters because it will put an unnecessary inquiry in your credit history that could decrease your FICO rating. Alternatively we advice which you begin monitoring your credit history and use for the SeaDream loan once this has reached 550 or above.
To find out more about upping your odds of securing boat funding SeaDream has come up with a few watercraft funding guidelines. Once you have taken measures to improve your odds of being financed SeaDream will be able to work with you to obtain the most effective motorboat loan.
You may always contact certainly one of our loan representatives to further investigate your present situation.
* Disclaimer: The credit profile parameters are just a basic guideline and try not to guarantee a loan approval.
You may get authorized for a ship loan despite having bad credit. Be aware nevertheless, interest levels and loan terms for high-risk loans will likely not match those provided to prime lenders.
You will need 600+ along with a low debt to income ratio to qualify although it is sometimes possible to qualify for a boat loan with FICO credit scores in the 500s, generally. You qualify you can apply for a loan online today if you think.
The maximum term length is typically 15 years for bad credit loans. For the people with exemplary credit you are able to up get terms to twenty years.
To be eligible for a motorboat loan with bad credit you’ll want to place a minimum down of 10% while the ship should be lower than 15 yrs. Old.
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