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Current boat loan rates in your area?

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goldnrod24

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What are the going rates in your area.


My credit union has 10 year loans for 4.990% fixed or 12 year loans for 5.240%.
 
Hi Randy, that sounds like a quote from MSUFCU. They seem to have the highest rates around! Look around as we got 3.99 on a twelve to fifteen year loan (can't remember which one it was). 
 
Check with financial plus credit union. We got 3.99 but that was a few years ago.
 
If you have a 401k ,most will allow you to take a loan against that . Much lower rate and you are paying yourself back the interest .
 
We did Lightstream.com for the new boat loan.  They loan to high credit score people only.  No cost and no collateral attached.  We paid off early and had a great experience with them. We had a 1.99% rate.
 
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Wow! Fantastic rate. Wondering if it's too late to do a "do over".
 
If you borrow enough, you can get 1.99% for longer terms.
 
I'm checking the site clicked on boat loan and don't see rates anywhere near that- what are you all looking at?
 
I got mine rate last year.  They have gone up. The process was easy and no lien on the boat.
 
goldnrod24 said:
What are the going rates in your area.


My credit union has 10 year loans for 4.990% fixed or 12 year loans for 5.240%.
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Randy, our dealer said they could get us 3.99% for 15 years with good credit so we went back to our credit union (Genesis Federal in Troy) and they said they would match it. Might be worth giving them a call. 
 
Michiman said:
Randy, our dealer said they could get us 3.99% for 15 years with good credit so we went back to our credit union (Genesis Federal in Troy) and they said they would match it. Might be worth giving them a call. 
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I may play that. I did apply to a different CU and they are offering 3.49% up to 144 months.


We'll see what they say.
 
That is who I went through. They also have a branch right across the road from Wilson Marine in Brighton now...
 
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lakeliving said:
Check with financial plus credit union. We got 3.99 but that was a few years ago.
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I am going with Financial Plus CU. Easy to do and they beat my CU by 1.75%. In my mind, that's a pretty big margin.


Now, if my damn motor would arrive so some serial numbers could get recorded. Grr.....
 
Nice! We've found them to be easy to deal with on both purchases. 
 
Holy crap! 3.99% for 15 years?!? You can pay a house off in that time period! 
 
BigKahuna said:
Holy crap! 3.99% for 15 years?!? You can pay a house off in that time period! 
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I have no plans to take that long. Hell, I might not live that long! ;-)
 
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