Anyone know if you can get a loan for almost new boat?
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Loan for used boats
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February 25, 2012 at 10:47 pm #1043015
You sure can. At my CU, the interest rate depends on how old the boat is.
February 25, 2012 at 11:39 pm #1043019i got a loan on my used boat last year. it’s a 2002 crestliner. the thing i will tell u is bank value on boats is pretty wack! don’t listen2 bank values just do your research and spend what u think is a good deal!
also…some of our members are able2 help u get loans on boats. i have read it in their thing below posts. hope 1of these guys help u out and get u in the right direction
starvin pilgrimPosts: 335February 26, 2012 at 1:00 am #1043040In my opinion, if you can, join a credit union. If you are a Union Member,join Building Trades Credit Union. Interest rates are unbelievably reasonable. My boat was 4%,new. 1999 car 4.5%,Camper new 6%. Credit Unions are the best way to go. Never ever go through a dealership.
February 26, 2012 at 1:38 am #1043053Quote:
In my opinion, if you can, join a credit union. If you are a Union Member,join Building Trades Credit Union. Interest rates are unbelievably reasonable. My boat was 4%,new. 1999 car 4.5%,Camper new 6%. Credit Unions are the best way to go. Never ever go through a dealership.
February 26, 2012 at 2:19 am #1043059My last boat loan experience was that boat loan rates were much higher than used car loan rates. I was fortunate enough to have paid off my truck prior to buying the new/used boat and borrowed against the truck to buy the boat. My credit union was very willing to work with me on that
February 26, 2012 at 11:53 am #1043091Quote:
Anyone know if you can get a loan for almost new boat?
You can get 2.99% at Wings Financial Credit Union if you open a checking account with direct deposit.
February 26, 2012 at 2:09 pm #1043137This is a GREAT site Thanks to all for your help!! I will post what I find!
jackeboatPosts: 1February 29, 2012 at 11:50 am #1044399Those are great rates and credit unions can be a great place to go. Some credit unions also will allow you to purchase with zero down which is less than the national marine lenders offering 10% to 20% down. Usually they will be shorter terms such as 6 to 10 years where the national guys are 15 years above $25k. Money down and shorter terms hopefully will prevent you from going upside down.
I am actually a boat loan broker and found this post in google. There actually can be quite a bit to getting a loan. Knowing your credit score and debt to income ration before you start is a very good thing. Don’t let everyone pull your credit. Make some calls first.
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