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Boat financing
Posted on 1/18/17 at 12:51 pm
Posted on 1/18/17 at 12:51 pm
Who do you go thru? Ive used heart of louisiana credit union they are asking around 5%. Any ideas on where else to call. Thanks
15
Posted on 1/18/17 at 12:53 pm to sonoma8
financing a used boat? Because if its a new boat the dealer should have a broker that could shop around for you.
Posted on 1/18/17 at 12:56 pm to civiltiger07
Used unfortunately
Posted on 1/18/17 at 12:57 pm to sonoma8
You might want to search on thehulltruth for this. Pretty good discussion on it a few weeks ago.
Posted on 1/18/17 at 12:59 pm to sonoma8
ah, yea most places wont even finance a boat that is over a certain age. 5% doesn't sound all that bad for used. Did you check with a credit union?
Posted on 1/18/17 at 1:12 pm to sonoma8
you got equity in house?
HELOC at a lock in rate, interest would be tax deductible.
HELOC at a lock in rate, interest would be tax deductible.
Posted on 1/18/17 at 1:13 pm to civiltiger07
Local Credit Union. 5% was what I paid on my boat loan in 2012. New financing was running about the same through the dealers lender as well at the time.
My credit union is advertising 4.48% on boats and will loan 100% of NADA value.
My credit union is advertising 4.48% on boats and will loan 100% of NADA value.
Posted on 1/18/17 at 1:20 pm to sonoma8
I used lightstream.
Interest rate was 6.99% I think but the money was in my account in less than 24hours and I'll pay it off way sooner than my term.
I haven't regretted buying the boat.... yet
Enjoy
Interest rate was 6.99% I think but the money was in my account in less than 24hours and I'll pay it off way sooner than my term.
I haven't regretted buying the boat.... yet
Enjoy
Posted on 1/18/17 at 1:25 pm to CajunCommander
If you can get an account at keesler credit union they have good rates. I just got 3.25% on used for 48 months.
Posted on 1/18/17 at 1:44 pm to sonoma8
Also BoatUS has a pretty decent financing system you can check out.
Posted on 1/18/17 at 1:44 pm to LEASTBAY
I have mine thru essential federal credit union and its 5% i believe. I pay extra in it every month and have a shorter term then some as well. She showed me they go by age so no matter how good your credit is it's the age of boat affecting rate. I bought mine in 15 and it was a 13 model so it was financed in the new rate category.
Shoot me a text and ill explain more also what boat baw?
Shoot me a text and ill explain more also what boat baw?
Posted on 1/18/17 at 1:53 pm to sonoma8
Advancial of Lafayette
Posted on 1/18/17 at 2:36 pm to sonoma8
Posted on 1/18/17 at 2:39 pm to sonoma8
Lightstream. Super easy and 4%.
Posted on 1/18/17 at 3:13 pm to sonoma8
5% sounds pretty decent on a used boat.
I've dealt with Jefferson Financial Credit Union on a couple loans before and felt like they were pretty decent.
I've dealt with Jefferson Financial Credit Union on a couple loans before and felt like they were pretty decent.
Posted on 1/18/17 at 3:20 pm to sonoma8
My credit union is offering 4.75 on new and used boats. I bought ours for that rate years ago. Shop around to credit unions.
Posted on 1/18/17 at 6:57 pm to sonoma8
whoever you go through make sure they know the process of purchasing a boat in LA. I purchased new through Campus Federal and gawd it was a nightmare. Always faxing, refaxing, redoing paperwork, etc.
Posted on 1/18/17 at 7:50 pm to seeinspots
Would love to know which hill billy downvoted HELOC suggestion
Posted on 1/18/17 at 8:35 pm to sonoma8
I went to my State Farm agent, really good rates (better than the dealer and my wife's credit union) for my last 2 boats, both new. And, he financed the boats that I sold, so they will do both new & used.
Posted on 1/18/17 at 10:02 pm to sonoma8
Home equity loan or line of credit is the way to go, assuming you have equity in your home. Interest paid against loans on boats and cars is not tax deductible, but interest relating to equity loans is. Takes longer to get said loan and you have to have an up to date appraisal, but worth it in the long run.
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