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Jan 23rd, 2013
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 Boat Loan - Interest Rates Since Fed Rate Rise
#14654810
03/09/23 01:55 PM
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Joined: Apr 2021
Posts: 224
wabash2015
OP
Outdoorsman
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OP
Outdoorsman
Joined: Apr 2021
Posts: 224 |
What's the current interest rates on new boats with a 10 year loan with an 800+ credit score? Can't really find this information online without seeing massive ranges.
2003 Skeeter TZX 190
Yamaha VMAX 150 2-Smoke
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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: wabash2015]
#14655584
03/10/23 01:05 AM
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Joined: Jun 2012
Posts: 3,274
KB1953
TFF Team Angler
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TFF Team Angler
Joined: Jun 2012
Posts: 3,274 |
Skeeter has 4.99 program currently going on!
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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: KB1953]
#14660975
03/15/23 03:12 PM
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Joined: Apr 2021
Posts: 224
wabash2015
OP
Outdoorsman
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OP
Outdoorsman
Joined: Apr 2021
Posts: 224 |
Skeeter has 4.99 program currently going on! Yeah for 72 months. Not sure who can afford a $70,000 rig @ 4.99% interest for 6 years.
2003 Skeeter TZX 190
Yamaha VMAX 150 2-Smoke
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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: wabash2015]
#14664004
03/18/23 02:08 PM
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Joined: Aug 2016
Posts: 1,458
T-racer @ Mallard Marine
Extreme Angler
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Extreme Angler
Joined: Aug 2016
Posts: 1,458 |
Rates are starting at 8.5 percent on 20 year notes on amounts higher than 50k on new boats through my lenders, with 760 credit score putting you in the "A Tier". I've seen rates as high as 17 percent on a 608 credit score applicant I had. If you have 800+, you'll be golden though. That's with 10% down.
Rates have gone up substantially this year. I'm even paying 8.5 percent on my day to day line of credits now, up from 5.5 this time last year.
Mallard Marine Nacogdoches, Tx
936-225-3244 - Authorized Sales/Service
Mercury Outboards - Allison Boats - Bullet Boats
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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: T-racer @ Mallard Marine]
#14665595
03/20/23 01:51 PM
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Joined: Apr 2021
Posts: 224
wabash2015
OP
Outdoorsman
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OP
Outdoorsman
Joined: Apr 2021
Posts: 224 |
Rates are starting at 8.5 percent on 20 year notes on amounts higher than 50k on new boats through my lenders, with 760 credit score putting you in the "A Tier". I've seen rates as high as 17 percent on a 608 credit score applicant I had. If you have 800+, you'll be golden though. That's with 10% down.
Rates have gone up substantially this year. I'm even paying 8.5 percent on my day to day line of credits now, up from 5.5 this time last year. That's gonna be a rough monthly payment. I don't see how prices don't fall over time with this increase in rates.
2003 Skeeter TZX 190
Yamaha VMAX 150 2-Smoke
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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: wabash2015]
#14666036
03/20/23 07:05 PM
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Joined: Feb 2009
Posts: 403
juggin4cats
Angler
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Angler
Joined: Feb 2009
Posts: 403 |
I just did 7.4 for 14 years through US Bank with a 800 plus score. Not happy about the rate but I was lucky to get the 7.4. Was a 30K boat.
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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: wabash2015]
#14666100
03/20/23 07:51 PM
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Joined: Apr 2017
Posts: 9,733
tmd11111
TFF Celebrity
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TFF Celebrity
Joined: Apr 2017
Posts: 9,733 |
I thought all the ballars on here paid cash.
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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: tmd11111]
#14666860
03/21/23 02:23 PM
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Joined: Apr 2021
Posts: 224
wabash2015
OP
Outdoorsman
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OP
Outdoorsman
Joined: Apr 2021
Posts: 224 |
I thought all the ballars on here paid cash. I thought most guys were "pro staffers" who implied they got their boats for free.
2003 Skeeter TZX 190
Yamaha VMAX 150 2-Smoke
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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: wabash2015]
#14668203
03/22/23 05:11 PM
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Joined: Jan 2020
Posts: 16
Unclebubba73
Green Horn
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Green Horn
Joined: Jan 2020
Posts: 16 |
Yes, rates have gone way up really fast. I have been seeing a rare few deals as low as 6.99%, but that is mostly financing over 100K with substantial amount of cash down and 800+ credit scores. For your average Bass Boat with a purchase price between $50,000 and $100,000, I am seeing rates in the mid to upper 7's with excellent credit.
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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: Unclebubba73]
#14668398
03/22/23 07:40 PM
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Joined: Apr 2021
Posts: 224
wabash2015
OP
Outdoorsman
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OP
Outdoorsman
Joined: Apr 2021
Posts: 224 |
Yes, rates have gone way up really fast. I have been seeing a rare few deals as low as 6.99%, but that is mostly financing over 100K with substantial amount of cash down and 800+ credit scores. For your average Bass Boat with a purchase price between $50,000 and $100,000, I am seeing rates in the mid to upper 7's with excellent credit. With what term length?
2003 Skeeter TZX 190
Yamaha VMAX 150 2-Smoke
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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: wabash2015]
#14669923
03/24/23 01:49 AM
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Joined: Jun 2011
Posts: 2,132
Jimfishes
Extreme Angler
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Extreme Angler
Joined: Jun 2011
Posts: 2,132 |
My CU offers boat loans at 6.75% for 120 months
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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: wabash2015]
#14670563
03/24/23 06:43 PM
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Joined: Jan 2020
Posts: 16
Unclebubba73
Green Horn
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Green Horn
Joined: Jan 2020
Posts: 16 |
Yes, rates have gone way up really fast. I have been seeing a rare few deals as low as 6.99%, but that is mostly financing over 100K with substantial amount of cash down and 800+ credit scores. For your average Bass Boat with a purchase price between $50,000 and $100,000, I am seeing rates in the mid to upper 7's with excellent credit. With what term length? Usually 180 months under $75K, and up to 240 months over $75K.
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