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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: 294
wabash2015
OP
Angler
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OP
Angler
Joined: Apr 2021
Posts: 294 |
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.
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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: 3,297
KB1953
TFF Team Angler
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TFF Team Angler
Joined: Jun 2012
Posts: 3,297 |
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: 294
wabash2015
OP
Angler
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OP
Angler
Joined: Apr 2021
Posts: 294 |
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.
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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: 1,460
T-racer @ Mallard Marine
Extreme Angler
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Extreme Angler
Joined: Aug 2016
Posts: 1,460 |
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: 294
wabash2015
OP
Angler
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OP
Angler
Joined: Apr 2021
Posts: 294 |
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.
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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: 10,083
tmd11111
TFF Guru
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TFF Guru
Joined: Apr 2017
Posts: 10,083 |
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: 294
wabash2015
OP
Angler
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OP
Angler
Joined: Apr 2021
Posts: 294 |
I thought all the ballars on here paid cash. I thought most guys were "pro staffers" who implied they got their boats for free.
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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: 72
Unclebubba
Outdoorsman
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Outdoorsman
Joined: Jan 2020
Posts: 72 |
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: Unclebubba]
#14668398
03/22/23 07:40 PM
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Joined: Apr 2021
Posts: 294
wabash2015
OP
Angler
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OP
Angler
Joined: Apr 2021
Posts: 294 |
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?
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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: 2,145
Jimfishes
Extreme Angler
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Extreme Angler
Joined: Jun 2011
Posts: 2,145 |
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: 72
Unclebubba
Outdoorsman
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Outdoorsman
Joined: Jan 2020
Posts: 72 |
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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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: tmd11111]
#14683874
04/07/23 04:19 AM
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Joined: Feb 2002
Posts: 138
El_Tortuga
Outdoorsman
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Outdoorsman
Joined: Feb 2002
Posts: 138 |
I thought all the ballars on here paid cash. Well technically I wrote the check. But definitely not baller, but waited forever while raising a family. Now that the kids are out of college (2 degrees each), we actually have a couple of nickels to rub together.  Not sure if it was the right thing to wait until I could afford it. Been trapped forever stuck between YOLO and need to save for the future. If I croak tomorrow, I missed out. If I live vibrantly for 30+ years then I made the right choice. TBD
Last edited by El_Tortuga; 04/07/23 04:19 AM.
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Re: Boat Loan - Interest Rates Since Fed Rate Rise
[Re: wabash2015]
#14713588
05/08/23 01:02 AM
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Joined: Jun 2020
Posts: 6,552
grandbassslayer
TFF Celebrity
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TFF Celebrity
Joined: Jun 2020
Posts: 6,552 |
10-15-20 year boat payments….. not a boat on earth worth that.
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