I have a few bass boats and financed a couple of them at my local bank and they always want to go 3-4 years on financing. Well, buying a $30,000 boat it makes my payment huge. Can anyone give me idea of how many years a boat can be financed, based on the year of the boat? For instance, an 07 could be financed for x number of years. Thanks
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by webygail13 »</td></tr><tr><td class="quote">I have a few bass boats and financed a couple of them at my local bank and they always want to go 3-4 years on financing. Well, buying a $30,000 boat it makes my payment huge. Can anyone give me idea of how many years a boat can be financed, based on the year of the boat? For instance, an 07 could be financed for x number of years. Thanks</td></tr></table>
Thank you for the question. Term of loans are mostly determined by loan amount. The amount you mentioned, 30K should be able to get terms as long as 180 months. You don't need to take that long but it should be available. Saying that, sometimes lenders will cut that available term because of credit issues. Let us know how we can help. we are ready when you are.
Ken, Todd & Chris
So what is the breakdown or is there one aside from credit playing a role? If I spend $20k, i can go how many years? 15k? 25K? Just curious. That may depend on how much or little I spend.
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by webygail13 »</td></tr><tr><td class="quote">So what is the breakdown or is there one aside from credit playing a role? If I spend $20k, i can go how many years? 15k? 25K? Just curious. That may depend on how much or little I spend. </td></tr></table>
Most lenders will offer 120 - 144 months from 15 - 25K. Above the 25K mark, some lenders offer 180 month terms. The lower borrowed amount may also mean a bit higher interest rates. They don't get real crazy until you go nder 10K borrowed. Please remember, credit history, value to loan amount, debt to income and year of boat will also play a role in rates. Sorry for the vague answers but this is not a cut ib stone thing. What we can carve in stone is that we will present the best options to you we can. Let us know when you are ready. Ken, Todd & Chris
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