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#3065021 - 01/30/09 06:39 AM best place for boat financing?
txtider Offline
Extreme Angler

Registered: 01/10/07
Posts: 1079
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]
Judd Offline
TFF Celebrity

Registered: 12/28/02
Posts: 7313
Loc: Sachse, TX, USA
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]
RedRanger Online   content
burro desagradable

Registered: 08/20/03
Posts: 16539
Loc: Frisco, Texas
State Farm was doing with cheap rates, if you had insurance with them

Don't know if they still do it
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#3065112 - 01/30/09 07:02 AM Re: best place for boat financing? [Re: Judd]
bwhatley Offline
Extreme Angler

Registered: 02/26/04
Posts: 1852
Loc: Longview, TX
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.
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#3065117 - 01/30/09 07:02 AM Re: best place for boat financing? [Re: Judd]
txsuperman Offline
TFF Team Angler

Registered: 03/22/04
Posts: 3489
Loc: little elm, tx
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]
Joefishin Offline
TFF Guru

Registered: 09/29/03
Posts: 12679
Loc: Plano, Tx
I've had good experience with Key Bank, they do alot of boat financing.
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#3065164 - 01/30/09 07:11 AM Re: best place for boat financing? [Re: txtider]
forkduc Online   content
TFF Celebrity

Registered: 03/28/07
Posts: 8413
Loc: Plano,Texas
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]
JPost Offline
TFF Team Angler

Registered: 04/15/08
Posts: 3879
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]
cbyrom Offline
TFF Team Angler

Registered: 02/04/05
Posts: 3554
Loc: Town of the Cow
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]
JPost Offline
TFF Team Angler

Registered: 04/15/08
Posts: 3879
Originally Posted By: cbyrom
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]
epicoutdoors Offline
Extreme Angler

Registered: 02/18/08
Posts: 1432
Loc: On The Water NE Texas
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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#3065265 - 01/30/09 07:29 AM Re: best place for boat financing? [Re: epicoutdoors]
BigLeslie Offline
TFF Celebrity

Registered: 07/09/03
Posts: 5539
Loc: Denton, TX
Financed mine 3 months ago, 4.99% Your Federal Credit Union great service, easiest purchase I've ever had...but they have a limited service area and you need good credit.

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#3065337 - 01/30/09 07:43 AM Re: best place for boat financing? [Re: BigLeslie]
TdRoss Offline
TFF Celebrity

Registered: 06/09/08
Posts: 5187
Loc: Power Lines
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]
Chad Hill Offline
Extreme Angler

Registered: 06/05/08
Posts: 1014
Loc: Celina, Tx.
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]
basscaster46 Online   content
Angler

Registered: 03/03/06
Posts: 435
Loc: Red Oak, TX
Originally Posted By: JPost
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 stir

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