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  1. #1
    Member
    Join Date
    Dec 2009
    Location
    marion, iowa
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    60

    loan on a used motor

    if good credit what can i expect for interest rate and length of loan? around $6000

  2. BBC SPONSOR
    Join Date
    Dec 2009
    Location
    Michigan
    Posts
    1,876
    #2
    Quote Originally Posted by biggs0270 View Post
    if good credit what can i expect for interest rate and length of loan? around $6000
    Tough to find motor only loans. Any re-power would need to include the boat and trailer as collateral. Any lender would want liens on all three items.
    If there is a current loan in place, that old loan needs to be paid off with the new one so the liens are all in the same place. Best numbers we are seeing on re-power is 7.9% and that's because of the lender and type of loan.
    Let me know how we can help.
    Thank you,
    Ken

  3. Member 06 SB's Avatar
    Join Date
    Feb 2012
    Location
    West Point Lake, GA
    Posts
    11,008
    #3
    Another option is to get a 0% for X months credit card and buy the motor using the CC. I have seen up to 15 months on occasion and 12 months regularly.

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