Best Unsecured Loan : LightStream
Why We Chose It: We chose LightStream as our best unsecured boat loan because their loans require no collateral, they offer a Rate Beat program, and quick funding.
LightStream is https://rapidloan.net/title-loans-me/ an online consumer lending division of SunTrust Bank, a part of Truist Bank. The company offers boat loans, banking products and services, home improvement loans, swimming pool loans, RV loans, and motorcycle loans. The company was founded in 2014 as a small startup company and has grown into an innovative online lending platform.
LightStream believes in rewarding borrowers with good credit with a simple loan application, seamless loan process, and rapid funding. It offers same-day approvals and can even fund some loans the same day, although others will be funded in a few days. It offers new and used boat loans nationwide as well as boat refinancing. Loan amounts range from $5,000–$100,00 and terms are between two and seven years.
Rates start at 4.29% (as of ) with an applied discount for autopay. There are no processing or prepayment fees and no appraisal fees. Their Rate Beat program offers a rate that is 0.10% lower than the rate offered for the same type of loan from a competitor.
Some customers love the quick application and funding process and the loan knowledge of the agents but others experienced confusion on published rates versus actual rates.
Best High-Value Boat Loan : SunTrust
Why We Chose It: Our choice for the best high-value boat loan is SunTrust because it offers loans up to $100,000 with no points, service charges, or processing fees. It also has a team of dedicated marine loan specialists and is a reputable company that has been in business since 1891.
SunTrust is a part of the newly formed financial services company Truist which also includes BBT. Continue reading “Best Marine Lending Specialist : Trident Funding”