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#3065021 - 01/30/09 06:39 AM
best place for boat financing?
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Extreme Angler
Registered: 01/10/07
Posts: 1013
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guys , where is the best place to get boat financing ? what is a good rate for a boat and how long can you finance a boat ? thanks !
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#3065051 - 01/30/09 06:51 AM
Re: best place for boat financing?
[Re: txtider]
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TFF Celebrity
Registered: 12/28/02
Posts: 7309
Loc: Sachse, TX, USA
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Credit Union normally and all the other stuff depends on your credit.
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#3065107 - 01/30/09 07:01 AM
Re: best place for boat financing?
[Re: Judd]
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burro desagradable
Registered: 08/20/03
Posts: 16348
Loc: Frisco, Texas
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State Farm was doing with cheap rates, if you had insurance with them
Don't know if they still do it
_________________________
 Plano Plumbing and Leak Detection Jack Lantrip - Master Plumber #38783 972 672 8616
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#3065112 - 01/30/09 07:02 AM
Re: best place for boat financing?
[Re: Judd]
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Extreme Angler
Registered: 02/26/04
Posts: 1819
Loc: Longview, TX
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Depends on your dealer and what lenders they have access to. New boat loans can go all the way to 20 yrs and interest rates vary from 6.9% to above 11%. Gonna depend on your credit rating.
_________________________
"I didn't get to where I am today worrying about how I'm going to feel tomorrow" - Ron White
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#3065117 - 01/30/09 07:02 AM
Re: best place for boat financing?
[Re: Judd]
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TFF Team Angler
Registered: 03/22/04
Posts: 3419
Loc: little elm, tx
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I financed mine at Texans Credit Union. I did a f 5yr loan at 4.9%. But the rate depends on your credit, the term depends on the amount you are going to finance. I've heard of people financing boats for up to 10yrs.
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#3065160 - 01/30/09 07:11 AM
Re: best place for boat financing?
[Re: txsuperman]
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TFF Guru
Registered: 09/29/03
Posts: 12677
Loc: Plano, Tx
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I've had good experience with Key Bank, they do alot of boat financing.
_________________________
 http://www.denalirods.com “Some men fish all their lives without knowing it is not really the fish they are after.” -Henry David Thoreau
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#3065164 - 01/30/09 07:11 AM
Re: best place for boat financing?
[Re: txtider]
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TFF Celebrity
Registered: 03/28/07
Posts: 6907
Loc: Plano,Texas
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Did an 06 Skeeter 20i at Plano Marine 7.49% minimum term of 5 years. Need 700 or better score. My State Farm agent is going to give me a re-finance bid,says it will be cheaper. Got my house,cars and boat with them.
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#3065199 - 01/30/09 07:17 AM
Re: best place for boat financing?
[Re: forkduc]
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TFF Team Angler
Registered: 04/15/08
Posts: 3866
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I have no idea about your situation (credit rating, how much you need, equity you have in property, etc.) but if you can do it on a home equity loan or line of credit, I think its the best deal. You can write-off your interest and rates will be pretty close as low as you'll get.
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#3065212 - 01/30/09 07:20 AM
Re: best place for boat financing?
[Re: JPost]
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TFF Team Angler
Registered: 02/04/05
Posts: 3554
Loc: Town of the Cow
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You are also removing the security you have in your house to buy a bass boat.
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#3065230 - 01/30/09 07:23 AM
Re: best place for boat financing?
[Re: cbyrom]
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TFF Team Angler
Registered: 04/15/08
Posts: 3866
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You are also removing the security you have in your house to buy a bass boat. True, depends on your situation.
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#3065245 - 01/30/09 07:25 AM
Re: best place for boat financing?
[Re: JPost]
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Extreme Angler
Registered: 02/18/08
Posts: 1414
Loc: On The Water NE Texas
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Credit Unions are usually good on rates and terms. Got mine on 7.25% for 5 yrs but I didn't buy a brand new one (07 model). Rate for new was 5%. You also get really good/personal customer service and my CU is very eager to make loans even in this economy as long as your credit is good, (700+).
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#3065337 - 01/30/09 07:43 AM
Re: best place for boat financing?
[Re: BigLeslie]
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TFF Celebrity
Registered: 06/09/08
Posts: 5159
Loc: Power Lines
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credit union of texas was great with me.
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#3066841 - 01/30/09 01:39 PM
Re: best place for boat financing?
[Re: TdRoss]
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Extreme Angler
Registered: 06/05/08
Posts: 1009
Loc: Celina, Tx.
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I got 5.1% about 2 months ago through Resource One Credit Union. If you are interested PM me and I will get you the number and the contact.
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#3068036 - 01/30/09 06:40 PM
Re: best place for boat financing?
[Re: JPost]
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Angler
Registered: 03/03/06
Posts: 399
Loc: Red Oak, TX
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I have no idea about your situation (credit rating, how much you need, equity you have in property, etc.) but if you can do it on a home equity loan or line of credit, I think its the best deal. You can write-off your interest and rates will be pretty close as low as you'll get. Was under the impression you don`t want to use home equity to purchase a depreciating product. But that is just a thought. JD 
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