Who has the best Financing???

[c_hotshot]

OK Guys...Bass boat is sold, bonus is in, and I want to help stimulate the economy! Wifey wants to see everything in black and white before we take any further steps. Looking for your opinions & guidance!

Understanding there are a ton of variables...assume we have excellent credit and and are not leveraged (we only have a small mortgage). I've checked with my bank and Credit Union...both are quoting around 7.5% for either 7 or 10 year note.

What do you think is a good rate right now for a new boat loan? Are there any particular lenders that you would recommend? Any other advice for this newbie?

Thanks for your help and advice!

Chris

[Jason B]

That sounds about right where you're gonna find most rates.
No need to tell you now is an un-freaking-believable time to be buying a boat.
Just remember to post some pics when you pull the trigger!!!

[Carter13]

We got 7.5% for 15 years through our local credit union six weeks ago.

[jwanck11]

are you looking at a new or used boat? If used, what year?

[c_hotshot]

We are considering both new and used. But, we are leaning towards a new leftover 2008 Z1.

[dogbert]

OK Guys...Bass boat is sold, bonus is in, and I want to help stimulate the economy! Wifey wants to see everything in black and white before we take any further steps. Looking for your opinions & guidance!

Understanding there are a ton of variables...assume we have excellent credit and and are not leveraged (we only have a small mortgage). I've checked with my bank and Credit Union...both are quoting around 7.5% for either 7 or 10 year note.

What do you think is a good rate right now for a new boat loan? Are there any particular lenders that you would recommend? Any other advice for this newbie?

Thanks for your help and advice!

Chris

Sounds about right. I would check with the dealer in case they have someone lined up that can do better. Sometimes they'll beat the rate just to get your business. That's how I financed my first boat back when rates were in the double digits.

[evil0ne]

penfed.org

Fixed New Boat Loan Rates
6.15% APR 12 to 84 months $5,000 - $24,999
6.5% APR 12 to 120 months $25,000 - $39,999
Disclosures
Fixed Used Boat Loan Rates
6.15% APR 12 to 84 months $5,000 - $24,999
7.25% APR 12 to 120 months $25,000 - $39,999

[kana12]

7.0 for 7 years on 40 grand

[ImaPigDog]

Along the same lines as Dog's advice...don't hesitate to ask your bank or credit union to meet or beat another set of terms...everything is negotiable!!!

[Surf406]

Dogbert x2
Too bad you don't live in Helena Mt, We have 2 Credit unions slugging it out at the boat show 4.5% fixed for 144 months. Only hitch is you have live, work or worship in the area. (You could tell them you fly up here for church lol). Also no sales tax in Montana and about 2 people per square mile.

Welcome to Gods Country

[c_hotshot]

Great advice on pitting the bank and CU against eachother, as well as giving the dealer's financing contact the option to beat it. The 7.5% rate was quoted off the bat, so I knew it was the starting point and we'd only go lower. I cant believe the 4.5% rates in MT right now....ridiculuous! Are you sure I have property, work, or worship there?!?

[kana12]

hey i posted earlier but didn't see that you were in Texas. I'm not sure where you are located but if ever have a chance to make it down to Conroe area i would highly recommend stopping by Texas Tige off of HWY 105. They will def do everything they can to help you out.. i was by there the other day and they have a lot of inventory there now too .. they are my dealer and do all of my service and i have to say its top notch service when you deal with them. not sure what rates are now but strongly encourage you to call them they will take great care of you.. TEXAS TIGE ...
1-936-447-TIGE (8443)

[Surf406]

helena communitty credit union and trico credit union

[sparky216]

7.5%? Really I thought rates came down over the last year or so........

[Tanner]

Mortgages, YES.... high risk items like boats and other recreational items... no. Especially not with all the repos taking place.