Does anybody offer a short term 60 day loan using my boat title as collateral?
I need 3000 dollars for 60 days. Will put the title to my Stratos 201ProXL up. any ideas?
Does anybody offer a short term 60 day loan using my boat title as collateral?
I need 3000 dollars for 60 days. Will put the title to my Stratos 201ProXL up. any ideas?
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by zman2010 »</td></tr><tr><td class="quote">Does anybody offer a short term 60 day loan using my boat title as collateral?
I need 3000 dollars for 60 days. Will put the title to my Stratos 201ProXL up. any ideas?</td></tr></table>
Interesting question. A boat loan for under $10K will cost a premium in interest rates. In that dollar amount, even the best credit people will pay about 2-3% higher rate. The best option we would have may sound wierd to you....you could borrow $10K for say 60 or 84 months. Send in $7,000. with your first payment and the balance would come down to about $3,000.00 From there you would make normal payments until the loan is gone or paid off early. Most lenders want the loan out for 1 year with no penalty for early payoff. At the lower interest rate for that dollar amount, you would save money in the long run. See what I mean, sounds odd but would work. This does assume that your boat would book for that amount and your credit is solid. Your other option for something short term would be a local Credit Union. Be careful of the interest rates. Think it over and let us know. Ken, Todd & Chris
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