Current interest rates on boats

[Mxmark4]

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.

[Bigs28]

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.

[brad460]

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..

[larry_arizona]

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%


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[russellsmojo]

Just renting a boat at that point!!


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[smitty75]

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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[jcarter20]

Wow….those rates will put halt on boat sales.


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[Mxmark4]

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.

[Mxmark4]

20221228_140457.jpg and of course the obligatory teaser pic

[Bigs28]

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