Portfolio boat lenders expecting positive business during 2019; boat loan delinquency performs below 1% for 7th straight year.
The most comprehensive marine finance market study of lending trends and operations in the United States has been released by the National Marine Lenders Association (NMLA). The 2019 Annual Statistical Report provides detailed data relating to the industry’s two leading retail business line entities --- financial institutions who originate and hold retail or floor plan boat loans and service companies who originate and broker consumer boat loans to financial institutions. The report is a compilation of information from 50 lenders who represent a sizeable share of the marine finance market.
As specified in the Report, the recreational marine finance industry continues to experience strong economic health. Performance statistics reveal that boat loan delinquency has remained stable since 2012 and that 78% of portfolio financial institution’s boat loan customers were in the 35-54-year age group. Average boat loan turnover rate was reported at a healthy 48 months.