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
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
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.
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