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  1. #1
    Member Gnute's Avatar
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    Boat interest rates

    I know this have been dragged through the mud....but.....I have a decent rate but I hear all about ones that are better but can’t seem to find them. Everyone is around 4.75-6.6 even with excellent credit.

    anyone seeing less than 5% and who are you going through?
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  2. Member Finlander's Avatar
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    #2
    The Fed just dropped rates so I imagine next quarter you will see a dip.
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  3. Member idratherbeefishin's Avatar
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    #3
    Boats are not like cars there is no way you're going to get 0% or 1% interest . Anything between 4 and 6 is a good rate on a boat

  4. Member
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    #4
    I went through a credit union in the spring and qualified for their lowest rates... 4.4% below $50k and 4.74% between $50k-$100k

  5. Member
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    #5
    I got 6% through my CU. Best rate I found on boats when I was looking last year.
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  6. Member
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    #6
    4.75% for up to 72 mo's under 50K.

  7. BBC SPONSOR
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    #7
    state farm bank I saw 4.9% fixed for 15 years.
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  8. Member
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    #8
    Quote Originally Posted by gary_fritz View Post
    I went through a credit union in the spring and qualified for their lowest rates... 4.4% below $50k and 4.74% between $50k-$100k
    Which CU?

  9. Member
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    #9
    I went through a local credit union and got 4.55% but that was 3 years ago.
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  10. Member crank68's Avatar
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    #10
    Quote Originally Posted by Bassman25 View Post
    state farm bank I saw 4.9% fixed for 15 years.
    15 years .... wow is this a normal thing ?
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  11. Member
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    #11
    But doesn't everyone on here claim to always pay in cash for a new rig:)

  12. Member fishnfireman's Avatar
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    #12
    Check with State Farm, they suprised me.

  13. Member
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    #13
    Quote Originally Posted by BoatNoobie View Post
    Which CU?
    Bi-County FCU, it's a local credit union where I used to live when I was a kid, we attended a local church which was one of the ways we could become members.

  14. Nitro Boats Moderator BMCD's Avatar
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    #14
    I have 5.2% on a 15 year note. Highest I have had in several years.
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  15. Member RazorCat's Avatar
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    #15
    My local CU offers the best rates by far. Boat interest rates start at 3.10% for up to 60 months, which is as long as I’d ever finance a boat. Rates go up incrementally with a maximum of 5.30% for 85-120 months.
    Once a year they offer 1.99% loans on cars and boats, new or used up to 3 years old. Amazing deal. If I’m shopping for a vehicle or boat I can call them, tell them I’m going to need a loan soon, and they will guarantee that rate for up to 60 days regardless of whether the promotional period runs out before I find what I’m looking for. They’ll always have my business.
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  16. Member
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    #16
    Wow did I get a great deal. Went through my credit union at work and got an interest rate of 2.590% for 72 months. That was in Febuary. It is the same rate as a car loan. It is up to 3% right now.
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  17. Member
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    #17
    One of my local Credit Unions are currently at 3.2% for new boats. I got 2.49% last year on my boat for 36 months. I would check with all local Credit Unions in your area.

    M

  18. Member
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    #18
    Hmmm, this thread inspired me to do a quick search of the local CU to see what they are offering.

    My CU is offering 5.19% up to 120 months. That's the lowest rate possible for any term.

    A quick search shows a couple of CU offering even lower rates. Found 1 at 4.09% up to 84 months. Longer term, increases rate. I don't know if there are any application fees or anything else but beat my bank by 1% is huge. I might stop by tomorrow to check out a branch.....


    *edit*
    Looks like my boat just lowered their rates since the last time I looked at it about 2 months ago. Now it's at 4.94.
    Last edited by BoatNoobie; 08-13-2019 at 08:33 PM.

  19. Member
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    #19
    Oh man, found a local CU that's offering 3.74% up to 84 months with <80% LTV

  20. Member Bassman Ia.'s Avatar
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    #20
    I walked away from banks 40 years ago. Went to a credit union, with the same CU today. Banks suck