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Boat Loans and Rates
https://www.smwebhead.com/phpBB3/viewtopic.php?f=6&t=654		 Page 1 of 2
Author:  devilrays [ Sun Mar 11, 2007 5:26 pm ]
Post subject:  Boat Loans and Rates
I was wondering who everyone is going through for current boat loans and what rates your getting?
Author:  BarryBoats [ Mon Mar 12, 2007 9:50 pm ]
Post subject: 
The going rate now is 6.5 to 6.75 % with good credit.
Author:  The Scotsman [ Tue Mar 13, 2007 5:37 am ]
Post subject: 
I believe the going rate is 2.99% through a FW special financing deal. We bought a 288 in January at this rate, and I think the rate is good for all deals until the end of March. Check out the url below.

http://www.fourwinns.com/catchawave/index.php
Author:  BarryBoats [ Tue Mar 13, 2007 7:34 pm ]
Post subject: 
The 2.99% rate is instead of the rebate. In actual terms you are using the rebate to buy down to 2.99%. This rate and the buy-down may work great for some people. It all depends upon credit, down payment, tax write-off, and how long you plan on keeping the boat. I stand by my original of 6.5 to 6.75%. I just went through this financing and examined every option. The truth of the matter is nothing is free. You pay for it one way or another.
Author:  Giaccamo [ Wed Mar 14, 2007 8:14 am ]
Post subject: 
BarryBoats wrote:
The truth of the matter is nothing is free. You pay for it one way or another.


That is so true!
Author:  mkivbren [ Wed Mar 14, 2007 1:09 pm ]
Post subject: 
I'm getting 7.99 fixed which kinda sucks but hey at least it can be written off. I was told that the 6.5 rates are for loans >100K...
Author:  zeberifo1 [ Wed Sep 18, 2013 9:23 pm ]
Post subject:  Re: Boat Loans and Rates
My reply is a few years later, but I'm interested in this topic. Looking at a 2002 Vista 268.
I'll be getting 5.88% from my credit union - tax affected it might be the equivalent of about 3.5%.
My credit's not great, but not bad either.
Author:  strick [ Thu Sep 19, 2013 9:34 am ]
Post subject:  Re: Boat Loans and Rates
Check with Essex Credit. I have had good luck with them in the past & they specialize in marine financing. They are also quite helpful in getting you the real current book value of a boat you are considering, so that you don't overpay. They have been a good resource for us in our current search for a 318 or 338 model.
Author:  hutch9900 [ Thu Sep 19, 2013 9:44 am ]
Post subject:  Re: Boat Loans and Rates
In April I was given a 4.99% rate at my credit union. I thought that was a pretty good deal.
Author:  Technologic80 [ Thu Sep 19, 2013 10:04 am ]
Post subject:  Re: Boat Loans and Rates
hutch9900 wrote:
In April I was given a 4.99% rate at my credit union. I thought that was a pretty good deal.


Same here. I bought my 97 Vista 278 last spring. One credit union approved me at 7.24% but it was mandatory that I had to pay extra for life/disability insurance ($35 extra per month!!) on the note. Another credit union approved me for 4.99% and I didnt need the addtl life insurance. I went for a 7 year term.

Im not proud to say I have a prior significant "red flag" on my credit from 2008 too, but I was still able to get a boat loan for 4.99%!
However, I had an impressive down payment and have worked very diligently to fix my previous financial indiscretion, and it appears to have paid off!! 8)
Author:  firecadet613 [ Thu Sep 19, 2013 11:48 am ]
Post subject:  Re: Boat Loans and Rates
Last season I was able to get 4%. Coastal Financial. Looks like rates went up to 4.99.
Author:  babbot1 [ Thu Sep 19, 2013 1:02 pm ]
Post subject:  Re: Boat Loans and Rates
5% is about right. That's what I got back in April of this year.
I quoted bank of america before I went with a local agent. She didn't like it when I mention Bank of America but they did have just as good a rate.
https://www.bankofamerica.com/vehicle-loans/boat-loans/boat-loan-financing.go

I am not endorsing BOA in fact I dislike the company but it will give you an idea.
Author:  psusound [ Thu Sep 19, 2013 5:33 pm ]
Post subject:  Re: Boat Loans and Rates
Best rates I could find! I just refied with them.

https://www.essexcredit.com/
Author:  Paul I. [ Thu Sep 19, 2013 9:00 pm ]
Post subject:  Re: Boat Loans and Rates
No one has mentioned, it also depends on the amount of the loan.
Author:  zeberifo1 [ Sun Sep 22, 2013 8:32 pm ]
Post subject:  Re: Boat Loans and Rates
The terms matter too.
5.88% was for a 12 year loan.
5.65% for a 10 year loan. Credit union...
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