Used Boat Loan

[house]

Have some questions for a couple of you pros in here....
FICO is right around 700....
Approx a $35-$40k loan....
What kinda rate should I expect and what terms can I get?

[1030]

Have some questions for a couple of you pros in here....
FICO is right around 700....
Approx a $35-$40k loan....
What kinda rate should I expect and what terms can I get?
ttt

[Magic34]

I am getting a loan for a boat right now and I have 725+ credit score with little debt, actually only my house as debt. My rate quote is 6.5-6.75% and the boat is used. You should be able to go between 12-20 years.
I am shopping over the next 24 hours to see what I can get as the lowest.
How old is the boat? Normally on the older stuff, your rate is higher.

[Outnumbered]

I am getting a loan for a boat right now and I have 725+ credit score with little debt, actually only my house as debt. My rate quote is 6.5-6.75% and the boat is used. You should be able to go between 12-20 years.
I am shopping over the next 24 hours to see what I can get as the lowest.
How old is the boat? Normally on the older stuff, your rate is higher.
That is a killer rate. It must be a big loan. Any fees? What bank hooked you up? No way I could see them doing that rate on a $35k loan. I would say more like 7.5 to 8%

[Magic34]

That is a killer rate. It must be a big loan. Any fees? What bank hooked you up? No way I could see them doing that rate on a $35k loan. I would say more like 7.5 to 8%
I will find out which bank it was, this was from the dealer who brokered the deal. That was with about 40% down. I am hearing back from my banker at BofA tomorrow as well as WaMu. No fees.
I guess if it was a $80k boat with 50% down that rate would be possible.
I have gotten killer rates from BofA and Bank of the West in the past as well.

[Outnumbered]

I will find out which bank it was, this was from the dealer who brokered the deal. That was with about 40% down. I am hearing back from my banker at BofA tomorrow as well as WaMu. No fees.
I guess if it was a $80k boat with 50% down that rate would be possible.
I have gotten killer rates from BofA and Bank of the West in the past as well.
Pays to shop around but I think you did pretty well with that. Beware of junk fees that offset the low rate quotes.

[TexasChopper]

that sounds very low for that amount. Our rates are competive with anyone else out there and we would be coming in a tad higher. Is that an adjustable loan? Read the fine print..especially with BOA
http://www.ironstonefinancial.com/rates.html

[NOTALENT]

Check with Melissa Blake Kidd @ Essex Credit Union. She post here sometimes..

[Magic34]

that sounds very low for that amount. Our rates are competive with anyone else out there and we would be coming in a tad higher. Is that an adjustable loan? Read the fine print..especially with BOA
http://www.ironstonefinancial.com/rates.html
Not adjustable, no fees. I have had 3 boat loans with BofA now. I have a ton of stuff with them, and they have been great for me.
You guys seem to have some great rates as well.

[TOBTEK]

you should get ahold of ANDY01 here on the boards.... he's connected with a great loan/escrow guy.