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Old 09-21-2021, 10:03 AM   #1
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Is there a hole in the market?

The wife and I are looking for a boat, we have been pre approved by a local lender. But the boat must be 25 years or newer, . While searching the usual places, I have come to notice, that "Trawlers" in this age range and price point are a rare thing. I can find all sorts of Bayliners, Silvertons, Carvers within this range. Am I missing something, are manufactures making fewer trawlers?
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Old 09-21-2021, 10:34 AM   #2
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Price point? Pre approved by lender?
I think there is your problem. Your purchase price is restricted below the sales prices of currently available boats in an inflated sellers market. You will see that if you remove the ceiling price of your searches. Good luck.
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Old 09-21-2021, 10:46 AM   #3
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It's a hot market, has been since last summer, certainly, and an argument could be made that it has been since the S&P500 hit 3,000. The seller's hole in the market is the many larger yachts that exceed many (most?) people's cash set aside for a purchase that are either 25 years or older, or certainly 1979 and older. Which is why there are so many popping up on one's searches on sales websites, and aren't selling, because people can't get financing for them, and people who could afford to purchase them for cash, are buying the ones you want instead: The ones that are more easily financed and at reasonable price points - the buyer's hole - like 1990s and early 2000s boats in the 150k to $500k range. IMO.

There are banks and finance companies that that will finance 1980 or newer, not just 1996 or newer, they are out there, so long as the boat isn't too much of a unicorn. Pre-1980? Forget it.
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Old 09-21-2021, 11:59 AM   #4
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I think Alaska's response is a good one. We used a credit union to finance ours which didn't impose the same age restrictions (and they actually financed it as an "RV" since they didn't have a category for it). 19 years old the year we bought it. Not really a trawler though, more a cruiser/big white tennis shoe. In other words, I'd shop around for financing rather than let the bank put you in a potentially much more expensive box -- although now your credit report might have take what they call a hard hit for the pre-qual. Very tight boat market right now for sure. I'll sell you ours for $150,000!
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Old 09-21-2021, 01:05 PM   #5
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There are banks and finance companies that that will finance 1980 or newer, not just 1996 or newer, they are out there, so long as the boat isn't too much of a unicorn. Pre-1980? Forget it.
I was rejected trying to finance my 1970 wood Unicorn.
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Old 09-21-2021, 01:27 PM   #6
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I was rejected trying to finance my 1970 wood Unicorn.
Lol. You had three strikes against you for financing, there.

Beautiful ship tho.
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Old 09-21-2021, 01:46 PM   #7
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You may get better results with some of the national boat specific lenders. Key Bank or Sterling Associates although the age restrictions are becoming more prevalent.
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Old 09-21-2021, 02:40 PM   #8
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You may get better results with some of the national boat specific lenders. Key Bank or Sterling Associates although the age restrictions are becoming more prevalent.
Just got off the phone with Key Bank, 10 years is their limit.
Thanks for the responces, we will just keep plugging away.
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Old 09-21-2021, 02:46 PM   #9
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If you have equity in your home get a line of credit and use it for the boat. The boat is not used for security of the loan, the home is.
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Old 09-21-2021, 02:48 PM   #10
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Sterling Associates is a collection of semi-independent loan brokers. I’ve spoken to two of them in the past who claim they have lenders who will finance back to 1980 depending on the boat (and the borrower, presumably.)

Cindy Lewis is associated with their Annapolis office, is fairly involved in the recreational trawler world, was recently on a podcast for the America’s Great Loop Cruisers, etc etc. She’s a very busy lady and can come off as……what, abrupt? But she gets the deals done. Don’t even ask about 1979 or older though
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Old 09-21-2021, 03:09 PM   #11
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A home equity loan may work better for you. Most likely lower interest rates and there on no restrictions on what boat you want to buy.
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Old 09-21-2021, 03:23 PM   #12
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Sterling Associates is a collection of semi-independent loan brokers. I’ve spoken to two of them in the past who claim they have lenders who will finance back to 1980 depending on the boat (and the borrower, presumably.)

Cindy Lewis is associated with their Annapolis office, is fairly involved in the recreational trawler world, was recently on a podcast for the America’s Great Loop Cruisers, etc etc. She’s a very busy lady and can come off as……what, abrupt? But she gets the deals done. Don’t even ask about 1979 or older though
Cindy got me a loan on our previous boat but for this one she recommended Chris at Coastal Finance in Holland, MI. He got us a good loan on our current boat.
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Old 09-24-2021, 09:12 AM   #13
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A Home Equity LoC is the easiest path. Low interest. Tax deductible. No vessel age or price restrictions. No Minimum deposit requirement or % of value loaned.
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Old 09-24-2021, 09:41 AM   #14
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Originally Posted by Boulton20 View Post
The wife and I are looking for a boat, we have been pre approved by a local lender. But the boat must be 25 years or newer, . While searching the usual places, I have come to notice, that "Trawlers" in this age range and price point are a rare thing. I can find all sorts of Bayliners, Silvertons, Carvers within this range. Am I missing something, are manufactures making fewer trawlers?
I believe you are just observing reality, "Trawlers" are a niche market and aren't produced in the same quantities as your express cruisers or cabin cruisers. The recreational trawler that many of us picture when we think trawler reached the peak of production and popularity in the late 70's and early 80's when fuel was scarce but ever since, trawlers just never have been built in the same numbers as the Silvertons, Carvers & Bayliners.

You may be able to find a cabin cruiser capable of filling your needs even if it doesn't look the part. Try focusing on what features you truly need and a little less about what it is called and you might find something to satisfy you and your lending institution.
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Old 09-24-2021, 11:00 AM   #15
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I believe you are just observing reality, "Trawlers" are a niche market and aren't produced in the same quantities as your express cruisers or cabin cruisers. The recreational trawler that many of us picture when we think trawler reached the peak of production and popularity in the late 70's and early 80's when fuel was scarce but ever since, trawlers just never have been built in the same numbers as the Silvertons, Carvers & Bayliners.

You may be able to find a cabin cruiser capable of filling your needs even if it doesn't look the part. Try focusing on what features you truly need and a little less about what it is called and you might find something to satisfy you and your lending institution.
Very interesting point. Do you place the semi displacement boats that look like trawlers in the same category?
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Old 09-24-2021, 12:15 PM   #16
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Very interesting point. Do you place the semi displacement boats that look like trawlers in the same category?

Yes, even including semi-displacement "trawlers" and the various brands of tugs, the number of cruising boats that are commonly referred to as "trawlers" build in the past 25 years is a small niche compared to the other similar sized powerboats built. I am basing this on casual observation alone but it could be researched pretty easily.
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Old 09-24-2021, 01:52 PM   #17
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Cindy got me a loan on our previous boat but for this one she recommended Chris at Coastal Finance in Holland, MI. He got us a good loan on our current boat.
I called Sterling, they seem more inclined to go off the survey or hull value. He did mention 30 years on age, but seemed more interested in the survey results. So this is a viable option and one we will probably use.

I have been looking at the Carvers, Silvertons and Bayliners. How do I say this, these boats have a lot of white interiors. White, plus me = lots of cleanup. Maybe this why the wood interiors, appeal so much to me and the wife. Plus they just look great. Like I said we will just keep plugging away, I figure if we are not in a hurry and wait. What we want will show up, someday. Thanks again for everyones input.
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Old 09-24-2021, 05:15 PM   #18
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Funny how your priorities and preferences change after some years of boat ownership. We wanted a "trawler" at first too but we ultimately ended up with a big white tennis shoe boat (cruiser rather than a trawler). We still generally like it a lot, tons of space, comfortable, well made (in my opinion, for the price) but I do wish it had much more room under the floor panels and elsewhere for engine and systems access; wish it didn't have 9,000 square feet of high profile on a windy day (but then I wouldn't give up the room and comfort and view from up there either). It's very good in rough seas, to my surprise, better than I thought it would be, which was one reason I was looking for full displacement trawler style initially. Wish we had a solid enclosure and not canvas which needs so much care, but oh well, rolling it all up on a beautiful day is so nice. I really wanted a Selene 53 but -- well, life. Pretty happy now with the big white tennis shoe.
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Old 09-24-2021, 06:19 PM   #19
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Funny how your priorities and preferences change after some years of boat ownership. We wanted a "trawler" at first too but we ultimately ended up with a big white tennis shoe boat (cruiser rather than a trawler). We still generally like it a lot, tons of space, comfortable, well made (in my opinion, for the price) but I do wish it had much more room under the floor panels and elsewhere for engine and systems access; wish it didn't have 9,000 square feet of high profile on a windy day (but then I wouldn't give up the room and comfort and view from up there either). It's very good in rough seas, to my surprise, better than I thought it would be, which was one reason I was looking for full displacement trawler style initially. Wish we had a solid enclosure and not canvas which needs so much care, but oh well, rolling it all up on a beautiful day is so nice. I really wanted a Selene 53 but -- well, life. Pretty happy now with the big white tennis shoe.
We have been looking at the " Tennis shoe boats", the Bayliner 4788 will get a good looking over when we finally see one in person. The Silverton 453 caught our eye with all the storage and hardened fly bridge. I plan on sneaking around on a Silverton forum, I have some question about that boat. There may even be an owner on this forum. Just starting to check out Carvers. Youtube is a wonderful thing, for getting a feel for the different manufactures. We have a ton of question, just trying to curb the enthusiasm. Although not new to boat, we are new to boats this size. Again we appreiciate everyones input, we learn something everyday.
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Old 09-24-2021, 06:39 PM   #20
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We were originally shopping for a trawler and ran into similar obstacles. Our solution was to buy a sport fish. Not As much room or range as a “trawler” (we originally wanted a Mainship 400) but very seaworthy for cruising at least as far as the Bahamas.

The one we found happens to be a Silverton. I can also attest that the Silverton owners club is a very helpful and valuable resource. I’d be willing to bet that you can find insights and opinions on any model.
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