I really don't know how to go about this. I am looking at purchasing a used boat but don't know what the intrest rates are. Sounds like some of the folks here can help me. My credit is great. Being approved will be no big deal.

looking at Nitro Z8 2008 to 2010 anywhere from 26k to 30k.

Depends on how many years you are wanting to go, less years better rate, more years higher rate. I recently got approved for up to 72 months at 6.35%

Depends a lot on your credit score.

credit is great. Looking for 72 months

Some interesting answers so far. Most national lenders will raise rates on lower amounts. Credit score is important but not nearly the whole picture. We just worked with a couple that scored over 740 but could not get a loan due to amount of revolving (credit card) debt. We also have customers that score in the mid 600's and we get loans for them easilly. Value of what you are buying vs. book value is also important. Lenders will not give more than it's worth. Debt to income ratio is another piece of the puzzle. If you want a hand, boat loans are our business. Let us know how we can help. Our office phone is 517-543-6921 (EST) or email to ken@reclending.com.
Thank you
Ken, Todd & Chris

Ken,Todd and Chris will do everything they can to get you what your looking for..Hopefully I can get my debt to income ratio under control this year and when I do they will be the first people I call.

Join a credit union!! This the best way to get the best rates available. Here is a link to my credit union that shows its published loan rates.

https://www.advancial.org/pages/loan_rates

Motor Homes, Travel Trailers, Boats2 As low
as
3.64% 3yr
As low as
3.84% 4yr
As low as
3.91% 5yr
- As low as
4.64% 7yr
As low as
5.03% 10yr
As low as
5.31% 15yr

Those rates do look nice. Credit Unions all have very limited lending areas and membership giudelines. The other thing to remember is that with rates like that, not everybody will qualify. From what we have seen, normal RV rates are always lower than marine. We work with both national and regional lenders. All are fixed rates and simple interest. No matter where the loan comes from, get the whole picture.
If we can help with anything give us a shout.
I can be reached at ken@reclending.com or the office phone is 517-543-6921. We are in Michigan (EST).

Bevo08 recommendation is the best here. I'm in lending and can tell you that a credit union is your best bet. There is many credit unions out there that you can get into with out membership requirements. Also credit unions will some times rate match.

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