Geeez. credit union financing. whoa....

That was my thoughts. They just don't want to deal with them so they jack their rates up to drive away potential customers.
 
I used Essex (Bank of the West) I haven't had any problem dealing with them. They were a bit slow on the origination but partly on my end with sellers paperwork. At any rate totally depends on year of boat, amount you want, and term of loan. I got mine under 4% (they're higher now of course) if the boat is over 10yrs old you'll need to add .25% point to rate they were true to their posted rates with me

https://www.essexcredit.com/home/boat/rates/
 
I used Essex (Bank of the West) I haven't had any problem dealing with them. They were a bit slow on the origination but partly on my end with sellers paperwork. At any rate totally depends on year of boat, amount you want, and term of loan. I got mine under 4% (they're higher now of course) if the boat is over 10yrs old you'll need to add .25% point to rate they were true to their posted rates with me

https://www.essexcredit.com/home/boat/rates/
One more thi g with them they will only finance boats where survey over all rating is good or better
 
I used Essex (Bank of the West) I haven't had any problem dealing with them. They were a bit slow on the origination but partly on my end with sellers paperwork. At any rate totally depends on year of boat, amount you want, and term of loan. I got mine under 4% (they're higher now of course) if the boat is over 10yrs old you'll need to add .25% point to rate they were true to their posted rates with me

https://www.essexcredit.com/home/boat/rates/
Yeah I talked to them already. They were at 5.99% plus the .25% for a boat over 10 years old.
 
my credit union is amazing and they are at 3.2% up to 90% of the value of the boat and up to 120 months for zero increase in rate.
 
Usually when you are buying something including money, the seller will quote a market rate unless they really don't want to sell you. Maybe some credit unions have decided they do not want to be in the boat loan business for some reason. However, if you really want the loan, they may make it for a rate that suits them. I used to see lots of non competitive bids from subcontractors in the building trades. These subs were too busy to take on more work, but rather than decline the bidding, they would double their quote so as to not be selected. By bidding, they stayed in the loop for future work when the timing was better for them.
We do that in the printing business. Some times we get the job (we don't want) anyway.
 
2nd Sterling associates. Great rates and great terms
 
At least you are well paid when that happens.
Yep my wife is a graphic designer and does that all the time. Quotes super high on jobs that look like they are gonna be a pain in the ass or she knows the people are hard to deal with. Sometimes she gets them anyway but the extra money makes up for the extra bs. People don't realize that being hard to deal with costs more when people figure out you are like that.
 

Forum statistics

Threads
112,950
Messages
1,422,880
Members
60,933
Latest member
juliediane
Back
Top