Despite all of the negative news we've been hearing lately regarding the credit markets, boat loan money is still flowing for customers with good credit history. While it's true that the number of lenders in the marine market has become somewhat smaller and credit standards have tightened, lending institutions are still making boat loans. Loans are being made directly, as well as through brokers and dealers.
For the majority of our customers the easiest method of obtaining boat financing remains in working directly with our Omaha Marine Center boat finance department. In this situation, the customer simply fills out a credit application and lets the dealership work to obtain financing and process all of the necessary paperwork. This can be done at our showroom or on our website using our secured credit application under the Finance tab at www.omahamarinecenter.com . Omaha Marine has access to the largest lenders in the country for new and used boats at competitive rates and terms suited to your needs.
Other financing options include local banks, credit unions, home equity loans, on-line brokers and on-line banks.
Another good source of lender options is the National Marine Bankers Association. They provide a list of marine lenders by state. To access this information log on to www.marinebankers.org then select boat buyers, then at the top of the page select buying a boat then select directory and when the directory page appears click on NMBA member list by state, then select your state.
Still another online option is Boat US. To check out their programs go to www.boatus.com and select boat loans.
There are limited sources for financing of used boats over 10 years old and/or if you have difficult credit history. One of the best local sources we have for this situation is American General Finance at 90th and Fort St. in Omaha Ph: 402-573-5263. Ask for Jim or Ann.
Hopefully this information will prove useful in your search for both new and used boat financing. If you have any questions please give us a call at Omaha Marine Center.
Boat Financing Assistance
Dan Kasparek or John Lawlor