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best place for boat financing?
#3065021
01/30/09 12:39 PM
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Joined: Jan 2007
Posts: 1,222
txtider
OP
Extreme Angler
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OP
Extreme Angler
Joined: Jan 2007
Posts: 1,222 |
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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Re: best place for boat financing?
[Re: txtider]
#3065051
01/30/09 12:51 PM
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Joined: Dec 2002
Posts: 7,315
Judd
TFF Celebrity
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TFF Celebrity
Joined: Dec 2002
Posts: 7,315 |
Credit Union normally and all the other stuff depends on your credit.
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Re: best place for boat financing?
[Re: Judd]
#3065107
01/30/09 01:01 PM
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Joined: Aug 2003
Posts: 30,308
RedRanger
burro desagradable
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burro desagradable
Joined: Aug 2003
Posts: 30,308 |
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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Re: best place for boat financing?
[Re: Judd]
#3065112
01/30/09 01:02 PM
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Joined: Feb 2004
Posts: 1,854
bwhatley
Extreme Angler
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Extreme Angler
Joined: Feb 2004
Posts: 1,854 |
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
"I am a sinner who does not expect forgiveness, but I am not a Government Official." - Mr. W - Deadwood Season 2
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Re: best place for boat financing?
[Re: Judd]
#3065117
01/30/09 01:02 PM
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Joined: Mar 2004
Posts: 4,053
txsuperman
TFF Team Angler
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TFF Team Angler
Joined: Mar 2004
Posts: 4,053 |
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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Re: best place for boat financing?
[Re: txsuperman]
#3065160
01/30/09 01:11 PM
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Joined: Sep 2003
Posts: 12,853
Joefishin
TFF Guru
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TFF Guru
Joined: Sep 2003
Posts: 12,853 |
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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Re: best place for boat financing?
[Re: txtider]
#3065164
01/30/09 01:11 PM
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Joined: Mar 2007
Posts: 16,323
forkduc
TFF Guru
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TFF Guru
Joined: Mar 2007
Posts: 16,323 |
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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Re: best place for boat financing?
[Re: forkduc]
#3065199
01/30/09 01:17 PM
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Joined: Apr 2008
Posts: 3,906
JPost
TFF Team Angler
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TFF Team Angler
Joined: Apr 2008
Posts: 3,906 |
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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Re: best place for boat financing?
[Re: JPost]
#3065212
01/30/09 01:20 PM
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Joined: Feb 2005
Posts: 3,554
cbyrom
TFF Team Angler
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TFF Team Angler
Joined: Feb 2005
Posts: 3,554 |
You are also removing the security you have in your house to buy a bass boat.
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Re: best place for boat financing?
[Re: cbyrom]
#3065230
01/30/09 01:23 PM
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Joined: Apr 2008
Posts: 3,906
JPost
TFF Team Angler
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TFF Team Angler
Joined: Apr 2008
Posts: 3,906 |
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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Re: best place for boat financing?
[Re: JPost]
#3065245
01/30/09 01:25 PM
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Joined: Feb 2008
Posts: 2,100
epicoutdoors
Extreme Angler
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Extreme Angler
Joined: Feb 2008
Posts: 2,100 |
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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Re: best place for boat financing?
[Re: epicoutdoors]
#3065265
01/30/09 01:29 PM
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Joined: Jul 2003
Posts: 6,417
BigLeslie
TFF Celebrity
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TFF Celebrity
Joined: Jul 2003
Posts: 6,417 |
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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Re: best place for boat financing?
[Re: BigLeslie]
#3065337
01/30/09 01:43 PM
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Joined: Jun 2008
Posts: 5,578
TDR2
TFF Celebrity
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TFF Celebrity
Joined: Jun 2008
Posts: 5,578 |
credit union of texas was great with me.
P1
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Re: best place for boat financing?
[Re: TDR2]
#3066841
01/30/09 07:39 PM
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Joined: Jun 2008
Posts: 1,029
Chad Hill
Extreme Angler
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Extreme Angler
Joined: Jun 2008
Posts: 1,029 |
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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Re: best place for boat financing?
[Re: JPost]
#3068036
01/31/09 12:40 AM
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Joined: Mar 2006
Posts: 2,750
basscaster46
Extreme Angler
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Extreme Angler
Joined: Mar 2006
Posts: 2,750 |
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
I got all day I’m retired
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