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best boat loans this month? Who you guys recommend


bamabonners

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my credit union rate is 100% financing, 4.89% for up to 12 years.

I can use USAA, but have never used them before. They will do 4.25% for up to 15.

Who is offering better terms right now?

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my credit union rate is 100% financing, 4.89% for up to 12 years.

I can use USAA, but have never used them before. They will do 4.25% for up to 15.

Who is offering better terms right now?

USAA is great! You call them, give them all the boat info and #'s, they do 100% if fairly new and will overnight you a check to hand to the seller. If it's a dealer then I think they will just send the check there if you tell them you want the boat.

Cars/trucks work the same way with them.

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We used our credit union. I have primary accounts at USBank but they weren't even close. Essex caught my eye online as well but never dealt with them so I went the safe route. Our CU was 4.75% up to 12 years then it jumped to 6.25 for 15 years. We shopped two other CU's that didn't really do much with boats and they were higher.

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Essex looks like it has some good rates but have never used them.

Sorry not trying to knock your suggestion as I agree they look great at first glance, but please DO NOT use Essex!!

We started down the path with them through their partnership with Costco, thinking if Costco endorsed them all would be good.

Just type "Essex credit reviews" into google and enjoy the show! I know most people that post reviews are dissatisfied people, however the amount and consistency of the specific issues is hard to ignore.

Mainly their communication was super awful. They'll be good up front and then go radio silent and ignore repeated emails for 3 straight weeks. They also tried to require info like the factory invoice, but the dealership cited dealer agreements with Malibu that prevented them from providing that. Since they couldnt get it Essex wanted an additional amount down.

In the end the dealership found us financing that worked from a local credit union. So +1 on that mention above. Plus working through the dealership puts all the workload on them, you dont have to do any of the legwork and that's worth something.

Edit: Here is one review site example http://essex-credit.pissedconsumer.com/

Edited by klewislx
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my credit union rate is 100% financing, 4.89% for up to 12 years.

I can use USAA, but have never used them before. They will do 4.25% for up to 15.

Who is offering better terms right now?

4.25% for 15 years, dam!

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Best I saw was 2.49% for 5 years through a local credit union but you've got to live or work in the county to qualify and it was only for LTV of up to 80%.

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They are already here... it took all of 4 minutes for them to show up (see post #3)

My bad. I was looking for the "soap box" post.

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For comparison my CU is 20% down 4.24% for up to 15 years on loan amounts under 100k. Over 100k and it's 30% down can finance up to 20 years and 4.24%.

Why not use a heloc? Interest rates are lower and interest can be tax deductible...

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