How can someone get a boat with low credit?

[oldntired]

yeah great wisdom on here. saving boy, join me i havent bought anything on credit in 12 years if i didnt have cash i didnt buy it. I am by no means rich but i got about everything i want. nice place, live on ky lake the whole shebang. never even had a mortage on my place or my 2 yo truck but my boat took a dump so i went to the bank,where i have way more liquid assets than enough to get the new boat i wanted. But i have 2 kids in college and my wife and i are getting older, money saved i like to keep saved as i get older. I was gonna put down enough cash to well eat the loss when you pull it off the lot. But guess what? I had no credit rating, not low scores ,none. banks dont loan money to people with no credit.unless you let them put away and freeze your principal until the loans paid off. wish i had a racket like that. i deal with 3 and same answer from all. So I thought it would be good for everyone if someone with expertice in the area of credit and lending enlighten us poor folks. who have enough funds to pay cash for everything how to borrow 18,000.00 dollars on a 38,000.00 boat. because they didnt understand their own set of rules. so i paid the man in cash and moved everything possible to a credit union and investments to a financial group. go to your nearest credit union explain your situation completely and he will tell you how to get what you want without giving a bank your first child.If your iq is over 90 you shouldnt be dealing with banks. just my opinion i could be wrong. but not usually

[HURRICANEBOB]

I have a buddy who wants to get a boat, not really looking at any particular make (although he prefers "Ranger's"), but his credit is not so hot. My suggestion to him, cause he has real good and steady income, was to look for someone who may be on hard times who might let him take over payments. The problem I thought about, after suggesting this, is that the company holding the loan would probably want to run his credit, so that probably won't work.
Anyone know of places that he might look, kind of like the used car lots that do "buy here pay here" deals, that I might suggest? I have not ever looked into this and thought maybe someone on here may have a suggestion, or experience, I could share with him. He has the option of saving up for it, which he may end up having to do anyway, but if you have any ideas please let me know. Thanks.

My best advice for your friend is stay clear of any BHPH deal, save alot in advance, and deal with a reputable established bank.

BTW: A 16 foot Aluminum boat with a nice 60-75 hp 2 stroke or 4 stroke will run 35-40 mph, more than fast enough. I ran a 20 foot pontoon for 14 years with 75hp, top speed everybit of 22 mph, and never got run over :-)

[CTFSHWHISKER]

like others have said he needs to save up and find a boat he can pay for,look on craigslist,if he doesn't mind driving there are some deals to be found.he can find some of the old stratos hulls late 80's 201 with 200 for around the $4000 range,if it is in good shape it is as good a boat as you can get.there are alot of the older,88-95 stratos,javelin,vision etc out there in the 18ft range with 150 motors and they are good boats.heck if it's in good shape ancient is not bad,my cousin and i catch alot of fish out of his old 84 x270 hydra sport.