purchasing a used Bennington pontoon. Top condition. Only 6 tanks of gas ran through it. Stored properly. I’m excited. I have a loan through my bank secured, but was wondering if their are better interest rates out there. Bank wants short term loan with 6% interest. Surely there is better out there. Searching the web is overwhelming! Suggestions?
Our dealer had a local bank they do a lot of business with find us a loan. When I looked on line to compare different rates available, they "magically" were able to come down a full percentage point and match the lowest rate I found online. My wife and I both had extremely high credit ratings as well. It certainly pays to shop around! Forget the exact rate but think it is the 5's All depends on the term and amount, of course.
I just checked mortgage rates yesterday and they're between 4.5% and 5% so I'm surprised anyone is getting vehicle loans for cheaper. Shop around for sure, just don't get sucked in to one of those crazy 18 or 20 year loans the dealers are dangling in front of people these days. Try what Carl suggested - home equity line.
