Interest rates

[Gnute]

I know this has been drug in the mud but...

What are interest rates running at now with excellent credit? I have a decent one right now. Looking at buying (new) again seeing that 4.75-6.5 is normal but seeing but can’t find the one you see at high 3’s!

Thank in advance.

[reclending.com]

I know this has been drug in the mud but...

What are interest rates running at now with excellent credit? I have a decent one right now. Looking at buying (new) again seeing that 4.75-6.5 is normal but seeing but can’t find the one you see at high 3’s!

Thank in advance.

We are not seeing anything in the "high 3's". Every once in a while there might be a small very regional CU that runs a special close to that. We did see an employment CU that had a special in that area. That one required you work there and have payroll deduction. Sometimes with the specials the terms are short or the membership requires other accounts to be started.
Remember on longer term loans, paying additional each month helps knock down the paid interest so basically beating the number.
Let us know if we can help.
Thank you,
Ken

[BoatNoobie]

Just an FYI.

I'm preapproved with a local CU offering 3.74% up to 84 months with <80% LTV for new boats. It's a very small CU. I think only 9 branches in a local region. Fortunately 1 close by. This is the only CU offering this low of a rate. I remember another at 4.09%. Majority were 5%+

My main CU is offering 4.94% up to 120 months. It's a much larger CU. I'm taking the lower rate since I'm not concern about length of term.

I found this CU by doing a search for CU in my state. Brought me to a state banking site that listed all CU in my state and their website. I think about 20. Went to each site and checked their rates. Your state might have the same thing.

[Lou22]

Just an FYI.

I'm preapproved with a local CU offering 3.74% up to 84 months with <80% LTV for new boats. It's a very small CU. I think only 9 branches in a local region. Fortunately 1 close by. This is the only CU offering this low of a rate. I remember another at 4.09%. Majority were 5%+

My main CU is offering 4.94% up to 120 months. It's a much larger CU. I'm taking the lower rate since I'm not concern about length of term.

I found this CU by doing a search for CU in my state. Brought me to a state banking site that listed all CU in my state and their website. I think about 20. Went to each site and checked their rates. Your state might have the same thing.

CU's will offer very competitive rates, however there is catch sometimes. For ex, depending on the amount you are financing will sometimes determine the term of that loan. In my case for example, since I borrowed under 25K from my CU, for my boat, my term was maxed out to 60 mo's, if I was financing a more expensive boat, over 50k let's say, then I would have had more term options to choose from. One thing is what a CU advertises versus when you start talking real numbers with them.

[dave540]

I got a loan this morning and the interest rate was 3.17 for 84 months. They said earlier that it would be 3.99 and when we got there it was 3.67. When they did the paperwork and ran the credit scores they lowered it to 3.17. My score was 829 and wifes was 850. We have been members of Atlanta Federal Credit Union for 30 years. I am not paying CASH like most on this site do because at this low rate, my investments are earning more than I am paying in interest. BTW I am buying a boat that was advertised on this site.

[dave540]

Correction the above. It is Atlanta Postal Credit Union.