Looking to buy a new boat in the next 2 weeks and was hoping to get some insight on who has the best rates at this time?

Thank You and appreciate and help in advance!

Brian

Be ready for lectures on how if you can�t pay cash for it you can�t afford it on here. As for rates I�d check local credit unions. They seem a bit more geared toward vehicle and boat loans.

The dealership may have banks who do boat loans or your personal bank may be good as well if you have a track record with them, what you buying ? Good luck.

My wife wouldn�t let me pay cash for my boat. So I �borrowed� money out of my secondary checking account and have it direct drafted from my primary, back to secondary on a monthly basis. Every month she asks �where did you spend $450?� ...and I explain that the $450 is the boat �loan� money that is paid back to the other account.

At least it was interest free.

On a serious note, how or WHO finances a boat for 240 months?!!!! I saw a boat at BPS with 240 easy payments of $343! Hahaha

Late last year my credit union was able to do 5.5% for a 35k loan. I don�t know how rates differentiate from state to state though.

city credit union is under 3%

Thanks Gentlemen!

State Farm does boat loans

https://www.statefarm.com/finances/banking/loans/vehicles

I agree on looking at local credit unions.

I�ve been getting 2% for boat, car or utv at City Credit Union in Dallas.

36 months @ 2%. Be ready for $2,000/month payments but that's the way to go, for sure, if you want a boat and don't have the cash. I'm sure applicants DTI will have to be on par to qualify.

If you are unable to finance through credit union or local bank 6-7% is going to be the going rate for a recreational vehicle.

For a 3 year term?

Ryan R is right, any "Boat" Loan, (recreational vehicle), is going to be 6%+. It is always better to just get a personal loan, or "CD Note", from your bank, if you can. A CD Note allows you to borrow on your own money, and, have the CD when paid back, just keeps from draining your accounts, all at once. Plus, the boat isn't in jeopardy of default, just the CD. Interest rates, (depending on credit), will be around 3%, and the CD earns .9%, so 2% is what they charge to do the paperwork.

i have used city credit union several times. at this moment I have 2 boat loans with them. both under 3%. my 2014 skeeter is 72 months and my 2005 ranger is 60 months.