Boat loans

[jcon44]

If i remember correctly the closing costs were about $370, which included all the DMV and NCWRC fee's 150 or so was for an inspection they required. Nice thing was they forwarded all the forms to the DMV and NCWRC and i had the plate and reg sticker in less than 2 weeks. I would do like they siad and borrow the 25k and pay more into it like yourpalnning. thats what i plan to do. enjoy the new boat. BTW i spoke with bofa and they were allot higher rate then Excel.

[btbt]

Check out www.essexcredit.com or if you are a Costco member Essexcredit.com/costco. They have a special going on refis for costco memebers right now. They also have decent new boat loans. I just financed a 2010 VLX with 15 year money at 6.37%.

[WakingMeHappy]

I agree cash is king but the OP is looking for advice on a loan. Give the guy a break.

Not trying to beat up on him at all. Just going a little deeper than the question asked. I would suggest taking the equivalent of a payment ($400, $600, whatever) per month and putting it in a savings account. If a person can go for, say, one year without touching that cash than it would be a safe assumption he can afford the payment. By then he would also have a nice chunk of cash on-hand to make a down payment and hence, a smaller loan.

Edited April 22, 2010 by WakingMeHappy

[Woodsprinter]

My boat loan was just approved with 6.89% fixed. I was told that rate has been increasing slowly since a few years ago? Any best rate as of now?

[jnking]

Try www.premierfcu.org they are local and have rate cut-offs if you drop down to 59 months instead of 60 or 83 instead of 84.

[Bobby Light]

5.99% Essexcredit.com/costco

Good rate if you're a costco member. Min 45K to finance at that rate though.

[bennekm]

Try a credit union if you are a member....boat rates at my credit union currently start at 5.2% and go up to low 6%'s.

[Bobby Light]

Try a credit union if you are a member....boat rates at my credit union currently start at 5.2% and go up to low 6%'s.

I am currently at a credit union and my rate is 6.74% with A++ credit. That is the best I can find anywhere where I am. I refi'd with essexcredit during this deal with costco.

[bennekm]

I am currently at a credit union and my rate is 6.74% with A++ credit. That is the best I can find anywhere where I am. I refi'd with essexcredit during this deal with costco.

I belong to 2...one has similar rates as you have described...the other has much more aggressive rates.

[Bobby Light]

I belong to 2...one has similar rates as you have described...the other has much more aggressive rates.

Must be nice, here on the Best Coast I don't see alot of credit unions with rates better than what I had.

[bennekm]

I am currently at a credit union and my rate is 6.74% with A++ credit. That is the best I can find anywhere where I am. I refi'd with essexcredit during this deal with costco.

I belong to 2...one has similar rates as you have described...the other has much more aggressive rates.

[Bobby Light]

I belong to 2...one has similar rates as you have described...the other has much more aggressive rates.

Heard ya the first time.

[bennekm]

Heard ya the first time.

Got to love the blackberry. I has a mind of it's own. Maybe I need to stop getting it wet.

[Bobby Light]

Got to love the blackberry. I has a mind of it's own. Maybe I need to stop getting it wet.

Ahhh yes the crackberry does make it tough to repond on here. I make it a habit not to myself it never works out for me .