Boat loan interest rates????

[Tom Slick]

What kind of interest rates are you guys getting on new and used boat these days? Any good rates on refi's?

[Mrs. Bordsmnj]

We just looked into getting a new boat and the rate they came back with was 11%!! :eek: Yeah right!

[boater]

I just signed the papers for my new boat yesterday and I got 6.25%

[Lacolaw]

I just got mine financed through B of A at 6.5% for a new boat....

[Quality Time]

Depending on terms, but 4.99% from Newcoast Financial.

[Salty Cracker]

I just got a used loan for 5.99% from ESSEX(Melissa) and new was below 5%.
And a side note...the deal for my new ride was VERY difficult because of paperwork issues, and Melissa from Essex went above and beyond for me!!! It was nice dealing with a company that does only boat loans because sometimes dealing with big banks, there are sometimes issues with out of state registration, needing full inspections etc.
Essex knew what we needed the entire time!!!
Sorry for preaching!!

[Dave C]

hey I got 5.5%, new. I need to find that 4.9%?
(someone please buy my old boat, you don't want to see a grown man cry do you? what am I talking about of course you guys want to see a grown man cry.... so nevermind):D

[phebus]

Originally posted by Salty Cracker
I just got a used loan for 5.99% from ESSEX(Melissa) and new was below 5%
Can you post contact info?
Thanks

[Salty Cracker]

Melissa
Essex Credit
(866) 377-3948 X7204

[phebus]

Thanks Salty

[roln 20s]

I know a couple of Force guys that bought new Force Offshores said they went with Dano's EBOATLOANS and were right around 5.25%. Definately not bad at all.
Its only boat loans also.
Roln 20s

[RUNFAST]

PRE - OWNED ............ 5.5% - 6.5%
NEW ............ 4.75% - 6% NO MONEY DOWN
NO PAYMENTS 1st 6 MONTHS
DRIVEN BY CREDIY SCORE / INCOME / DEBT RATIO
....... AS OF THIS WEEK

[shadow]

Just did a refi a couple of months ago with eboat loans. 6.25%
great service,didn't take long and they follow through with phone
calls regularlly during the process.

[jbtrailerjim]

I got 5.25% through Bank Of The West for my Ultra.

[roln 20s]

NEW ............ 4.75% - 6% NO MONEY DOWN
NO PAYMENTS 1st 6 MONTHS
Now this sounds like a deal- where did you find this at?
Roln 20s

[DryHeatOnly]

3.25% for 25 years! (just kidding HavasuDreamin' :D )
5.25% - 15 yr - BofA

[rivercrazy]

Check out KeyBank also. They are also competitive on boat loans

[RUNFAST]

Roln 20s
PRIORITY ONE FINANCIAL - St. Pete FL
800-747-6223 or www.PriorityOneFinancial.com

[Waldo]

4.00% on mine!!! No joke either.
If you are financially responsible (which I'm sure all of you are), own a home or property, you can take a HELOC or home equity line of credit to purchase anything you desire.
I actually did mine when I refinanced last year and it didn't cost anything additional. It's just like having a credit card as you have a determined limit you can spend. You don't have to use the credit line but if/when you do, you have 15 years to pay it off usually.
One of the main benefits is that you can deduct the intrest of a HELOC from your taxable income every year.
Also, you can make your own payment schedule. The bank usually requires 1%/month. But people need to be careful because if you sell your boat, you need to pay that off before you purchase another one. I've heard it happen where someone buys a car and the next year they want a diff one...well, they didn't get enough $ on their used one and were upside-down on their HELOC. So, like I said above, being financially responsible is the key.
Oh, I forgot to mention...HELOC's are usually adjustable rate, however, you can get a fixed rate now for around 6.25.

[HavasuDreamin']

Originally posted by DryHeatOnly
3.25% for 25 years! (just kidding HavasuDreamin' :D )
Now that was funny. :D :D The thing of it is, I wouldn't be surprised at all if that is true in a year or two. :eek:

[Boozer]

Sounds like rates have come down since i bought mine then. I got 6.9% interest and put down 10%. Took a 10 year loan to keep payments down to almost nothing. My loans through B of A.

[Boat Loan Guy]

I do boat loans if you have any questions please call me at 909-906-6300