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Thread: Current interest rates on boats
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12-10-2022, 03:14 AM #1
Current interest rates on boats
Looking at a new to me boat, have had some crazy rates thrown at me in the past couple days. One place wanted 9.9% and another was 7.49% . I know rates have gone up but what are those who are shopping being quoted and who is it with so I can try and find the best rate possible? Credit is good and down payment is about 20% currently.
2019 Craz
OJ 950
Wakemakers bags
Heatercraft triple heater
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12-10-2022, 09:28 AM #2Senior Member
- Join Date
- Jan 2021
- Location
- South Florida
- Posts
- 274
I wanted to trade in my mojo but the fact that new boats 25k+ more and the best interest rate we could find was 6.5% before this last rate hike i had to pass. We qualify for the best rates offered.
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12-10-2022, 10:08 AM #3
There is a credit union in my area I use as a baseline for best rates (historically they have the lowest). They are at 180 months at 7.24%.
Your 7.49% is about best your going to get..2021 Moomba Max
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12-10-2022, 10:53 AM #4
Current interest rates on boats
Just checked my credit union.
Went from 3.49 up to 240 to 7.99 up to 240.
6 months ago it was 3.99.
If you are financing a boat, your payment just jumped 50%
Sent from my iPhone using TapatalkLast edited by larry_arizona; 12-10-2022 at 10:56 AM.
2021 Supra SA 400
2018 Supra SA 400 (SOLD)
Michigan
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12-10-2022, 05:46 PM #5
Just renting a boat at that point!!
Sent from my iPhone using Tapatalk2017 Supra SA
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12-11-2022, 12:06 AM #6Senior Member
- Join Date
- Oct 2012
- Location
- Greenville, SC
- Posts
- 194
Couple months ago I went with trident funding. Huge run around but got in at 5.75%. That was with great credit and low dti. Boat was under $100k, anything over had a rate break.
Transaction was a giant hassle though, wouldn’t go through it again. I was going to use Michigan first and catch the tail end of the 3.99, but they would one deal with a boat titles in MI.
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12-29-2022, 06:13 PM #7
Wow….those rates will put halt on boat sales.
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2018 Moomba Craz
6.2L Raptor 400
6 Pump Ballast, Autowake 2.0, Flow 2.0 Surf System
OJ 15x13 Wake Prop
Digital Cruise Pro 3 (paddle wheel)
Wetsounds Rev 10's
2005 Supra Launch 22SSV - Sold
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12-29-2022, 08:18 PM #8
So after going back and forth over a few dirrferent boats and getting hassled by a dealer finance guy who tried to take advantage of me, I went with the 7.49% rate. Not great but will get me by until the rates drop and I can refi it. Have a nice 2019 craz that deal should be done on next week. Pretty well equipped boat with upgraded sound and super clean. Gonna upgrade the ballast and add a heater to try and extend my season as much as I can. Im pretty excited to get it, been anticipating a bigger boat and a new one just wasnt in the cards after the price increases of the past year, but I think this Craz will serve us well.
2019 Craz
OJ 950
Wakemakers bags
Heatercraft triple heater
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12-29-2022, 08:19 PM #9
20221228_140457.jpg and of course the obligatory teaser pic
2019 Craz
OJ 950
Wakemakers bags
Heatercraft triple heater
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12-29-2022, 09:37 PM #10Senior Member
- Join Date
- Jan 2021
- Location
- South Florida
- Posts
- 274
My credit union is currently offering 5.75% for 15 years. If you can't join because your in Knoxville you might want to look at credit unions near by before you sign.
https://www.suncoastcreditunion.com/...financing#tabs