loan rates

[Bawshogg]

Hmm. Just scoped US banks rates for my area . They are listing 4.9% on a new purchase for 180 months. 

 

[Pnwrider]

1 hour ago, Bawshogg said:

Hmm. Just scoped US banks rates for my area . They are listing 4.9% on a new purchase for 180 months. 

 

Have you check with the local credit unions? Pretty sure the one I use is still around 4%

[jwl019]

USAA jumped up last month to 5.25% for 180 months, iirc it was 4.25% prior to the increase.

[That Guy]

2 hours ago, Bawshogg said:

Hmm. Just scoped US banks rates for my area . They are listing 4.9% on a new purchase for 180 months. 

 

Yeah my dealer told me rates went up. Fortunately I had a 30 day lock on my rate but it meant to keep it I had to sign the loan /complete the sale prior to taking delivery of the boat since rates increased quite a bit. I closed the loan 2/2 and will take delivery this coming Saturday. 

[Bawshogg]

2 hours ago, Pnwrider said:

Have you check with the local credit unions? Pretty sure the one I use is still around 4%

Ya , of the two I belong to, one won't loan over 50k on a boat..?? And the other is at around 7% on a 15 year. 

BECU advertises 4.25% ...... but not on a 15. I won't go over 15 , but it seems like a lot of the old players in the boat market have exited or jacked rates significantly from last time I looked. 

My last loan was through Banner Bank at 3.99. I can't find anything published on thier rates . Might have to call.

[Pnwrider]

3 minutes ago, Bawshogg said:

Ya , of the two I belong to, one won't loan over 50k on a boat..?? And the other is at around 7% on a 15 year. 

BECU advertises 4.25% ...... but not on a 15. I won't go over 15 , but it seems like a lot of the old players in the boat market have exited or jacked rates significantly from last time I looked. 

My last loan was through Banner Bank at 3.99. I can't find anything published on thier rates . Might have to call.

PM inbound

[DarkSide]

My local credit union was still at 4.25 a couple weeks ago.  

[Sailvi767]

Looks like another fed rate hike in March. Lock in rates now!

[racer808]

I went through a broker who got me .5% lower than US bank would do direct but it was with US bank, so flat 4%

[Quimbola]

Broker info? Need to lock soon!!

[Sporte77]

I just checked locally (Vancouver,WA) - Spokane Teacher's Credit Union had the lowest rate right now at 3.99% for 15 years on $100K boat - with excellent credit.  Don't have to be a teacher.  See their site for other member requirements.  I had a loan with them - but then Columbia Credit Union ran a special in the winter at 2.99% to refi my 2012 VLX.  I'm boat shopping again - so had to research the rates again.

(Whatever you do - DONT USE ESSEX OR BANK OF CALIFORNIA).   Had a nightmare experience with them....

Edited August 22, 2017 by Sporte77
additional info

[Fffrank]

I was just at Wings Financial in MN again and asked about their boat rates.  Still at 2.9% used or new.  They also just financed a car for me (a 2002!) for 2.9%.  No idea how they're making money over there!!

[wbama387]

2 hours ago, Sporte77 said:

I just checked locally (Vancouver,WA) - Spokane Teacher's Credit Union had the lowest rate right now at 3.99% for 15 years on $100K boat - with excellent credit.  Don't have to be a teacher.  See their site for other member requirements.  I had a loan with them - but then Columbia Credit Union ran a special in the winter at 2.99% to refi my 2012 VLX.  I'm boat shopping again - so had to research the rates again.

(Whatever you do - DONT USE ESSEX OR BANK OF CALIFORNIA).   Had a nightmare experience with them....

What was the nightmare with Essex? I was thinking about using them.

[Sporte77]

They took over a month to complete and pay the dealer, which delayed my possession.  Screwed up the paperwork & wouldn't send the title to the new lien holder when I refied. Then, I could never get responses from customer service.  Could never get through. On hold up to an hour at one point.  Just not worth it.

[KirkB]

Interesting, I was just thinking of upgrading boats and come across this finance thread.  Was wondering how the hell people afford to buy 80-100k boats without financing.

I went through Essex.  Maybe I have more headaches in store for me when I decide to sell or trade in

[racer808]

2 hours ago, KirkB said:

Interesting, I was just thinking of upgrading boats and come across this finance thread.  Was wondering how the hell people afford to buy 80-100k boats without financing.

I went through Essex.  Maybe I have more headaches in store for me when I decide to sell or trade in

I went with some Yacht lender in CA, Trident Funding & she got me a better rate through US bank then what US Bank offered me & I was already a US Bank customer.  I didn't spend 80k though, I capped myself at 60k, found the boat we wanted & financed exactly 50,001.00 to get a better rate & lower pyt than what I would have had in a 15 yr with a higher rate.  After two seasons I have been offered 4k more than I what I paid for it & am seriously considering taking it & getting an Axis T23.  I don't know if I am extremely lucky or if it's the market but I have come out ahead on every boat we've owned.

[bamaboy]

3 hours ago, KirkB said:

Interesting, I was just thinking of upgrading boats and come across this finance thread.  Was wondering how the hell people afford to buy 80-100k boats without financing.

I went through Essex.  Maybe I have more headaches in store for me when I decide to sell or trade in

Don't think of it as a loan.  Think of it as a tangible asset

[racer808]

I think of it as a lease on family fun.  

[KirkB]

2 hours ago, bamaboy said:

Don't think of it as a loan.  Think of it as a tangible asset

Ya I mean I've been pricing out boats and found one that is the same year with 100 less hours on it and was priced at $3500 more than what I paid for my boat.  I just started learning to wakesurf and let me say in case you don't already know, it's addicting!!  Now I want a surf boat.  No need for Nauticurl, no real need for bags.  I don't have bags on my VTX yet so maybe they'll help quell the urge for a new boat.  At this point, seeing all these new boats though has me really eyeing a 2015/2016 LSV.

[racer808]

2 minutes ago, KirkB said:

Ya I mean I've been pricing out boats and found one that is the same year with 100 less hours on it and was priced at $3500 more than what I paid for my boat.  I just started learning to wakesurf and let me say in case you don't already know, it's addicting!!  Now I want a surf boat.  No need for Nauticurl, no real need for bags.  I don't have bags on my VTX yet so maybe they'll help quell the urge for a new boat.  At this point, seeing all these new boats though has me really eyeing a 2015/2016 LSV.

Save some Money & look at Supreme, Axis.  I love the wave on the Axis T23.  I love the wave on my MB but I am not very happy with dealer support of the manufacturer.  Over all though it's an incredible surf wave.

[robbennett]

55 minutes ago, racer808 said:

Save some Money & look at Supreme, Axis.  I love the wave on the Axis T23.  I love the wave on my MB but I am not very happy with dealer support of the manufacturer.  Over all though it's an incredible surf wave.

I second that! The Axis quality is very good now and the only thing you might miss is the screens. Personally the screens on the Malibu are why I'm leaning towards an Axis. T23 seems like the perfect size boat too! 

[KirkB]

3 hours ago, robbennett said:

I second that! The Axis quality is very good now and the only thing you might miss is the screens. Personally the screens on the Malibu are why I'm leaning towards an Axis. T23 seems like the perfect size boat too! 

You don't like them??  That's one of things that actually are making me lean toward Malibu.  Seems you can get the Viper II in the 2015 and up LSV but only on a '16-'17 MXZ.

[robbennett]

28 minutes ago, KirkB said:

You don't like them??  That's one of things that actually are making me lean toward Malibu.  Seems you can get the Viper II in the 2015 and up LSV but only on a '16-'17 MXZ.

I like the simplicity and reliability of regular switches. Though the problems seem to be rare they do exist and I don't want to deal with having to power down because the computer freezes or deal with screens delaminating after a few years. 

[DarkSide]

Reliability is absolutely the most important thing to me.  I use the boat too much to have it sitting at the dealer for weeks on end.  

This is the primary reason i buy new.  I would rather have an affordable payment and minimal repairs, than no payment and repair bills.

 

[KirkB]

On ‎9‎/‎6‎/‎2017 at 7:38 PM, robbennett said:

I like the simplicity and reliability of regular switches. Though the problems seem to be rare they do exist and I don't want to deal with having to power down because the computer freezes or deal with screens delaminating after a few years. 

After a search, I see what you mean as far as screen issues.  Would suck to get out there for some fun and have the screen crap out and you can't fill tanks or have the screen not registering your commands.  Also started looking at Axis last night.  Had never considered them as an alternative but getting a brand new boat for what I was looking at paying for new is pretty appealing.  Not to mention everyone saying the build quality has improved so much.

Edited September 8, 2017 by KirkB
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