Financing For Customers With Credit Challenges
Southeast Financial can help those with less than-perfect-credit or credit challenges with recreational financing?options.Southeast Financial brings our experience and knowledge to the non-prime recreational lending market. Our expanded financing option department specializes in financing your non-prime customers with past credit challenges including bankruptcies and credit scores as low as 550.
Many potential customers have started rebuilding their credit history, but a low credit score often prevents them from qualifying for a loan on an RV or Boat Loan. Our credit challenged program will enable you to secure competitive financing even though you may not qualify for today’s prime recreational loan rates. Our bad credit program allows you to re-establish and rebuild your credit rating while enjoying your recreational vehicle.We provide an option for many customers which allows them to purchase a boat, RV ,horse trailer, or motorcycle while they are rebuilding their credit.
Credit Challenge Program Options:
- Collateral up to 15 years old
- Financing up to $75,000
- Loan terms from 60 up to 180 months
- Simple Interest Financing with No Pre-Payment Penalty
How Can I Qualify For This Program?
- Prior bankruptcies are okay; must be discharged
- Look for prior positive installment history
- Stable employment, minimum 2 years for self-employed applicants
- Income must consistent
- Minimum income $20,000-$30,000 annually
- Credit scores of 550 or greater will be considered for financing.
- Units must be for recreational use only
- Non-Prime deals usually take a little longer to get a decision.
- Non-Prime rates are determined by the lender based on the prior credit performance of the customer.
- Banks view recreation purchases differently than a home or car loan.
- This loan may assist you in re-establishing your credit and we would be happy to try to refinance your deal with a lower rate after you have reestablished your credit.
* Disclaimer: The above credit parameters are only a general guideline and do not guarantee a loan approval