loan rates

[isellacuras]

6 hours ago, Nitrousbird said:

That's fine and dandy...but that doesn't mean you need a 130k new boat to make those memories, when a very nice 30k used boat will make the same ones.  Many folks don't seem to grasp that.

That can be said for petty much everything tho. You can go to Hawaii and stay in a mountain view room or spend the extra coin to get the ocean view. Pretty much the same experience. You can buy a 2006 Honda Pilot to get you around or you can buy a Range Rover to do the same thing. You can buy Payless shoes or nikes and accomplish the same thing. A Casio or a Rolex or if you're like me, a phone. Pretty much anything you want to compare. The cost of money at the time I bought my boat made it an easy decision for me that I would spend more to get what I wanted. I went in with a $40k budget for a used boat. I ended up spending 30 of the 40 in my budget, kept 10 for other stuff and financed the other half for the rest of my life (joking of course. It's only half the rest of my life) at a cheap rate. I got way more than I was planning and would not change anything if I were to do it again. I'm not "broke a**" or whatever it was that newbie implied some are on this site. I may not be Susie orman or Dave Ramsey money smart but I have a good time and live within my means. 

[jjackkrash]

On 1/11/2017 at 11:14 AM, Choiceind said:

As of Aug 15', MB financial gave me 6.62% 10 year loan. First recreational loan for me, high 700's fico. 35% down by choice (8000 down, purchase was 22,500)

Bump from several pages back to get back on topic.   

[isellacuras]

Good Sam is always competitive. 

[Pnwrider]

It's boat show season, easy enough to compare loan rates at the boat show to see who has the best rate. At the show here most of the banks and credit unions will have booths with loan rate sheets (many offering special boat show rates as well). 

[Fman]

On 01/24/2017 at 2:01 PM, Nitrousbird said:

That's fine and dandy...but that doesn't mean you need a 130k new boat to make those memories, when a very nice 30k used boat will make the same ones.  Many folks don't seem to grasp that.

Maybe you need to purchase a new boat and experience the difference between a 30k boat and 130k boat.   Some people don't grasp this either, but hey its fine and dandy either way!

[rugger]

On 1/22/2017 at 9:52 PM, Fman said:

There is also just some things in life that just are not good investments, boats are definitely one of them regardless if you pay cash or finance it.  Sometimes you have to look at what your get out of it, time with your family, making some great memories and walking out to your garage and seeing a beautiful boat with some pride of ownership ready to head out on the water!  20 years from now really wont make a financial make or break difference for most of us on here BUT you will have some great memories to look back on with your family and friends which are priceless and the best investment possible!

Remember you cant take it with you anyway, work hard and play hard 

 

On 1/24/2017 at 2:01 PM, Nitrousbird said:

That's fine and dandy...but that doesn't mean you need a 130k new boat to make those memories, when a very nice 30k used boat will make the same ones.  Many folks don't seem to grasp that.

 

You're both right IMO.   I don't have any more fun in my 247 than I did in my first 1987 Sunsetter (In fact, I still miss the old 'setter).  The magic is creating memories with the family, personalizing your boat and taking pride in ownership.  I have yet to buy a brand new boat, but I'm guilty of selling and upgrading used ones beyond what was "needed" for sure.  

There's no wrong answer unless you overextend yourself financially, and don't have time to boat anyway.  I'm just thankful those people eventually sell low-hour used boats to people like me.

[Nitrousbird]

37 minutes ago, Fman said:

Maybe you need to purchase a new boat and experience the difference between a 30k boat and 130k boat.   Some people don't grasp this either, but hey its fine and dandy either way!

I have been on boats much more expensive than mine.  Ones that make a much bigger wake, have fancier features and cost a lot more. 

Sure, it is a nice to have.  That doesn't mean you can't have a great time in a much less expensive boat.  I'm working on convincing the wife to upgrade.  Will I have more fun than our current boat or better memories?  Probably not.  Better wake and more space...damn well better if we are spending more, or I'll just keep our current ride.

[shadetreefab]

15 minutes ago, rugger said:

 

  I'm just thankful those people eventually sell low-hour used boats to people like me.

I'm going to start hanging out with you, so both of us can upgrade to low hour 25's in a couple years.

[Fman]

1 hour ago, Nitrousbird said:

I have been on boats much more expensive than mine.  Ones that make a much bigger wake, have fancier features and cost a lot more. 

Sure, it is a nice to have.  That doesn't mean you can't have a great time in a much less expensive boat.  I'm working on convincing the wife to upgrade.  Will I have more fun than our current boat or better memories?  Probably not.  Better wake and more space...damn well better if we are spending more, or I'll just keep our current ride.

Yeah everyone spends money on different things in life.  Some take fancy vacations, new cars, homes, RVs, etc.... I do think @Nitrousbird you deserve a new Malibu! nothing better than a custom order built "Nitrous style" how you like it!  With the new surf systems, creature comforts, seating options, towers, etc... I do see some good value in new boats over older models plus a 5 year warranty is also not a bad thing either.  And although boats do depreciate they do hold value better than most newer vehicles.  Obviously I have a complete sickness (admittingly) seeing as I am on my fourth Malibu but it is something I personally enjoy and have a great time with my family and friends.  I am looking forward to my Exile install coming in a couple months

Edited January 26, 2017 by Fman

[robbennett]

10 hours ago, Nitrousbird said:

I have been on boats much more expensive than mine.  Ones that make a much bigger wake, have fancier features and cost a lot more. 

Sure, it is a nice to have.  That doesn't mean you can't have a great time in a much less expensive boat.  I'm working on convincing the wife to upgrade.  Will I have more fun than our current boat or better memories?  Probably not.  Better wake and more space...damn well better if we are spending more, or I'll just keep our current ride.

I'm with you on having a lower priced used boat but I sure am glad there are people out there with the means to buy them new and take care of them for a few years so we can buy them later! 

[Sixer]

9 hours ago, Fman said:

Yeah everyone spends money on different things in life.  Some take fancy vacations, new cars, homes, RVs, etc.... I do think @Nitrousbird you deserve a new Malibu! nothing better than a custom order built "Nitrous style" how you like it!  With the new surf systems, creature comforts, seating options, towers, etc... I do see some good value in new boats over older models plus a 5 year warranty is also not a bad thing either.  And although boats do depreciate they do hold value better than most newer vehicles.  Obviously I have a complete sickness (admittingly) seeing as I am on my fourth Malibu but it is something I personally enjoy and have a great time with my family and friends.  I am looking forward to my Exile install coming in a couple months

I've always been a fan of finding a good deal on a holdover.  I have a 3 year old boat that I purchased new as a holdover (I bought a 2014 in 2015).  I paid the same price that dealers are currently selling the same boat used with 70 hours on them.  If you don't need the newest/greatest, there are a lot of deals to be had out there.  If I would have done a custom order on a boat I think it would have cost me around another 20-25K.

[The Hulk]

buying a 25 is a good investment because you no longer have to buy a pontoon! great savings!

[DarkSide]

Just now, The Hulk said:

buying a 25 is a good investment because you no longer have to buy a pontoon! great savings!

This is sound advice!  25' boats are the wave of the future!

[Quimbola]

To get on topic, would people mind posting rates they have received recently?

TIA!

[bamaboy]

Hi my name is bamaboy and I'm here to brag about my loan rate

 

2.74% with annual rebate.   BOOM!

[jcarr343]

I got 2.5% for 15 years from my credit union. Hard to pass up that rate and term.

[Quimbola]

Wow! I haven't seen anything less than 4%...

[jtryon]

3 hours ago, jcarr343 said:

I got 2.5% for 15 years from my credit union. Hard to pass up that rate and term.

new or used, and if so how old did they go for used?

[jcarr343]

17 hours ago, jtryon said:

new or used, and if so how old did they go for used?

Used 09 purchased a couple years ago. 

Edited February 11, 2017 by jcarr343

[Bawshogg]

As you know rates change pretty much constantly..... Good to know what rate you got a couple years ago.....

[Sixer]

As low as 2.79 in MN if you pick shorter terms.  10 year at 4.99%

http://www.starcorcu.com/ps-lrates.html

https://www.myspire.com/rates/personal-rates

https://www.wingsfinancial.com/loanrates

[That Guy]

Got 3.99 for 15 years on a new build last month.

[Bawshogg]

Mind sharing with who? 

Edited February 12, 2017 by Bawshogg

[OnTheWater]

3.99 was the lowest for used(15 years) in my area.  Not bad, but not as good as previous years.

[That Guy]

5 hours ago, Bawshogg said:

Mind sharing with who? 

US Bank