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  1. #1
    Member
    Join Date
    Jan 2014
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    New martinsville, wv
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    397

    loan repower question

    I'm thinking about buying a new 250 g2. My boat is paid for. I was wondering if I could get a better rate I've I include the boat in the loan. Or would it be the same rate either way? Or do most banks require a boat to accompany a motor? Thanks

  2. Member rocketman6965's Avatar
    Join Date
    Mar 2014
    Location
    Lake Worth, FL
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    1,612
    #2
    Depends on the bank. Then it depends on the boat year, etc. It will always be at a slightly higher rate than a new boat.

    Joe Perez
    Boatless white trash

  3. Member
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    Jan 2014
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    New martinsville, wv
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    397
    #3
    If I include the boat, with the new g2 I would be borrowing 18-19k with it being valued well over 30k

  4. BBC SPONSOR
    Join Date
    Dec 2009
    Location
    Michigan
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    1,876
    #4
    Quote Originally Posted by WVTundra View Post
    If I include the boat, with the new g2 I would be borrowing 18-19k with it being valued well over 30k

    Most lenders like to have a lien on boat, motor and trailer, not just the engine. In bankers world if something goes wrong, it's easier to deal with the whole package that just one part. Some lenders we work with don't vary rate for new and used, some do. Depends more on the lender you qualify for. Terms are generally set by the borrowed amount so new and used does not effect that much either.
    Let us know how we can help.
    Thank you,
    Ken