best boat loans this month? Who you guys recommend

[h2o_nhk]

Still refraining.

i feel ya...

WakingMeHappy =

[mrnate450r]

Borrow money for 5% or make money at 8-10%. Hmmmm...still a net gain of 3% minimum. Makes sense to me.

[happyfeet]

Don't get me started on big banks...

Just cause I'm not pro CU doesn't mean I am pro big bank either.

Small town community banking is were it is at!

CU's are so back A$swords it is unbelievable. How they pay more interest on their deposits than they earn on some loans doesn't seem like a very good business model. Pay enough lobbyists and you are able to operate virtually tax free!

Edited May 15, 2015 by happyfeet

[flapjack]

Still refraining.

whiff. again.

I was really trying to refrain from playing "forum police" yesterday, but I don't get the point of your posts. You are not being helpful. Some might think it is funny, but the humor probably does not outweigh the dickishness.

There are good reasons to buy a 15 year old boat with cash.

There are good reasons to buy a new boat with cash.

There are good reasons to get a note.

Seems like you are hijacking a specific, timely, thread.

[isellacuras]

Credit unions are non profit, big banks are all about profit. That being said, big banks typically have deeper pockets and have lower rates for longer term financing.

I am seeing rates from about 3.5% for up to 10 years and just over 4% from 10-20 years on $50K+

[happyfeet]

Credit unions are non profit, big banks are all about profit. That being said, big banks typically have deeper pockets and have lower rates for longer term financing.

I am seeing rates from about 3.5% for up to 10 years and just over 4% from 10-20 years on $50K+

They are "not" for profit. Meaning, what they do make is thrown at large salaries, huge marketing campaigns, and expansion. They try everything to seem like a bank to the average customer until their tax exempt status comes under fire. then they are the poor little 2 billion dollar credit union. Like I said (disclaimer), i am not advocating for the big banks.

[85 Barefoot]

Borrow money for 5% or make money at 8-10%. Hmmmm...still a net gain of 3% minimum. Makes sense to me.

Except you pay tax on the gain.

[teamerickson]

Except you pay tax on the gain.

Still winning.

[teamerickson]

US Bank - 4.49% 240 month.

[85 Barefoot]

Still winning.

but lets face it, most people financing are not at the same time putting away what they could pay in cash and investing it

[teamerickson]

but lets face it, most people financing are not at the same time putting away what they could pay in cash and investing it

Of course not! Have to pay for all that gas.

[IXFE]

but lets face it, most people financing are not at the same time putting away what they could pay in cash and investing it

Here we go!!!

[shawndoggy]

Without begrudging anyone their financing, can someone please point me to this place I can be sure to make 8-10% on my money? Please? I keep hearing about it but nobody will share! Shoot, I'll even grovel for a guaranteed 7%!

[mrnate450r]

but lets face it, most people financing are not at the same time putting away what they could pay in cash and investing it

But, it's not compounding either. If you financed $75,000 or decided to take out that money and reinvest $75,000 over a 15 year term you would be thousands ahead if you financed. Here is why, interest will always be paid on the principle balance. On a loan the principle balance decreases, and investments will almost always increase over time. The principle balance of the initial $75,000 will likely more than double in that time frame even if you don't add additional money. People financing new boats likely do have enough in some form of investment to cover the note. I'm just not one who thinks it's wise to take money from it to pay cash.

[victoryismine06]

Without begrudging anyone their financing, can someone please point me to this place I can be sure to make 8-10% on my money? Please? I keep hearing about it but nobody will share! Shoot, I'll even grovel for a guaranteed 7%!

I feel like you're maybe being sarcastic, but an Index fund should perform right around those numbers.

https://personal.vanguard.com/us/funds/snapshot?FundId=0540&FundIntExt=INT#tab=1

Edited May 15, 2015 by victoryismine06

[isellacuras]

US Bank - 4.49% 240 month.

Bank of the west 4.37% up to 240 months on 50k+. Good Sam is a good source for getting a quick idea of long term rates on RV and boat loans.

[2manyhobbies]

Went with USAA for 4.25% for 15 years @100% - I'm paying it off sooner than that as long as things go as planned, but was the best interest rate I was able to find without stressing myself on terms. My local credit union stopped doing 15 year loans, only offers 10 year and they were at 7% - I laughed at them considering I just bought two cars from them last year at 1% interest over 5 years -

Btw, Credit unions are not for profit, but they pay their dividends back to it's members via interest on their accounts combined with the overhead of running the business, instead of public investors. They also get tax breaks which is what big banks are pissed about these days. I as the consumer however, am personally happy to take advantage of credit unions and let the big banks keep screwing their customers - Just my 2 cents..

[85 Barefoot]

I feel like you're maybe being sarcastic, but an Index fund should perform right around those numbers.

https://personal.vanguard.com/us/funds/snapshot?FundId=0540&FundIntExt=INT#tab=1

That fund has the last few years, sure. Prior to that run it was flat over a five year period.

Here we go!!!

Who is that? Suze Orman?