Working Together With Credit Challenged Users Since 2002

Working Together With Credit Challenged Users Since 2002

SeaDream can help people that have less credit or than-perfect-credit challenges with versatile watercraft funding options. SeaDream’s Bad Credit Boat Loans Department focuses on mid-tier credit score and sub-prime marine funding programs.

Our mid-tier programs will allow you to secure competitive funding even when you may well not be eligible for today’s rate that is prime. SeaDream also provides sub-prime watercraft funding programs, allowing one to re-establish / rebuild your credit history while enjoying the fun lifestyle that is boating.

With financing up to $100,000, SeaDream’s mid-tier and sub prime ship funding programs give you a number of choices to be practical.

Bad Credit Boat Loan Terms

  • Loan Terms as much as fifteen years
  • Simple Interest Financing without any Pre-Payment Penalty
  • Standard Fixed Rate & Temporary Fixed Tools
  • Interest levels differ from 9.95 – 17.99%

You meet the following minimum qualifications before you apply please review the following to ensure:

1. Loan Qualifications:
  • Minimal Deposit: 10% +
  • Boats Might Not Be More Than 15 Years
  • Units Which Do Not Qualify: High End Boats, Commercial Vessels, & Houseboats
2. Credit Profile Parameters:
  • Credit Score / FICO rating should be 550 or Above
    • If you’re uncertain exacltly what the credit that is current score, simply simply click Credit Reports to obtain a duplicate of one’s credit history.
  • Combined Unpaid Accounts Must Certanly Be Significantly Less Than $25,000.00. Reports include:
    • Collection records
    • Charge offs (unpaid records written down by the creditor)
    • Repossessions (automobile, ship, rv, etc)
    • Home foreclosures
    • Kid support re re payment
    • Tax liens
  • Present Late repayment (within the past thirty days) in the Following Accounts Will Disqualify:
    • Homeloan payment
    • Investment home homeloan payment
    • Car payment: vehicle, rv, ship, etc
  • A Prior Bankruptcy isn’t Usually an issue. Please Review the scheduled Program Restrictions Below:
    • Cannot have actually filed for bankruptcy more this one time
    • Cannot have numerous payments that are late bankruptcy
      • (home loan or automobile payments, collections, fee offs, tax liens, son or daughter help, etc)
    • Have actually comparable installment credit rating just before bankruptcy
    • Note: bank cards aren’t considered installment credit
  • Your debt that is monthly money ratio should not surpass 50%?
    • To determine the debt to money ratio – click the link

Just how to use / next actions:

A) If you meet up with the Credit Profile Parameters please apply here. When you have any questions be sure to phone 949-515-0055 to learn more about our mid-tier and marine that is sub-prime programs. Our service-oriented and friendly staff of experienced motorboat finance specialists will be able to work with you, one-to-one, each step regarding the method to allow you to get the ship of the fantasies and acquire your credit score straight back on the right track. * (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 unless you are relatively sure that you have met the general Credit Profile Parameters as it will place an unnecessary inquiry on your credit report that may lower your FICO score that you not apply for a loan. Rather we advice once it has reached 550 or above that you start monitoring your credit score and apply for a SeaDream loan.

For more information about upping your odds of securing ship funding SeaDream has come up with a number of ship funding recommendations. Once you’ve taken measures to boost your odds of being financed SeaDream will continue to work with you to obtain the greatest watercraft loan.

You may constantly 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 that loan approval.


You may get authorized for the motorboat loan despite having bad credit. Be aware but, interest levels and loan terms for risky loans will perhaps not match those wanted to lenders that are prime.

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. If you believe you qualify you can easily make an application for that loan online today.

For bad credit loans the utmost term size is usually fifteen years. For everyone with exemplary credit you are able to get terms up to twenty years.

To be eligible for a motorboat loan with bad credit you will need to place a minimum down of 10per cent together with ship must certanly be lower than 15 yrs . old.

At SeaDream, you can purchase from a personal vendor in addition to dealers, agents and auctions. There are not any charges for personal party deals additionally the prices and terms are exactly the same as buying from a dealer.

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