Finance rates.

[mgswake]

Looking at buying a new Supra and going to finance with the goal of paying off in 5-6 years. I don't like to have debt on toys. I may be able to pay off sooner, but 5-6 years is my goal for now. Anyway, what rates are you seeing? I can do 10-20% down, more if needed. I saw 4.99 on the FB page, but that same lender was 3.99 in January. Anybody have a good lead on financing. Also, I am in SC. Thanks

[Bigs28]

Rates are going up. When i bought mine a local credit union was the best available. It was a 12 year vs the 20 year but im like you and want it paid off in under 4 years so the length of the loan didn't matter to me. I would just check websites of local credit unions and see what the dealership is offering to compare.

[larry_arizona]

Boat loan rates just jumped 0.5% locally, I would expect another 0.5% soon.

Grab it sooner rather than later.


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[2in2out]

We got a 20 yr through Truist @ 4.29% with 50k down on our SA. We have no early payoff penalty. We intend to pay down the loan with $200 extra each payment to remain in positive equity until we sell in 7-10 yrs.


Making my new SA build come true!!!

[mgswake]

I called the lender I was referring to on FB, he said he can’t give me the loan until I have the signed sales documents. Unfortunately, I put my deposit down in October then a week later the dealership said they don’t have any build slots until 2023. If I do 10-20% down for 20 years that is about 15000-18000 dollar increase. I’m going to discuss this with the dealer since I was told I had a boat and committed a deposit only to find out they didn’t actually have a slot. Hopefully I can negotiate some of that into a lower sales price or some covered maintenance costs. Sadly I may not be getting a Supra after all. Darn crazy markets these days.

[HFarr]

That's just a mess

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[mgswake]

HFarr, Haha, thanks for the insight. That is how it feels to me as well. The dealer has actually been good to work with so far. I guess if everything works out, I'll have a new boat ordered. And, if it doesn't than I will have to start looking again. There are worse problems to have. Just trying to keep a positive attitude and hope it all works out.

[shaggymatt]

Looking at buying a new Supra and going to finance with the goal of paying off in 5-6 years. I don't like to have debt on toys. I may be able to pay off sooner, but 5-6 years is my goal for now. Anyway, what rates are you seeing? I can do 10-20% down, more if needed. I saw 4.99 on the FB page, but that same lender was 3.99 in January. Anybody have a good lead on financing. Also, I am in SC. Thanks

Southeast Financial was the best when I was in the market, but my old school dealer who does everything on paper (doesn't even take cards for service) was just too much of a pain in the ass to work with to close through Southeast. I financed through my dealer and it was slightly higher.

Looks like they're still really competitive at 4.09%

https://www.sefinancial.com/boats/

[mgswake]

@shaggymatt - thanks, I actually found them on google and wanted to reach out to them.

Has anyone used Affinity? They have 3.24 for 5yr, 3.74 for 7yr, and 3.99 for 10yr. Thought I might reach out to them as well.

[zabooda]

Here are the rates at GESA in Washington state for new boats.

[mgswake]

Those look good, wish I was up in Washington State.