Recommendations on who to use for a boat loan?

[DesireeCooley]

Start by checking out local banks and credit unions, as they often have competitive rates for boat loans. Online lenders can also be a great option, offering convenience and potentially lower rates. Make sure to compare interest rates, loan terms, and any additional fees or charges. But before diving into a loan, don't forget to thoroughly inspect the boat you're eyeing for an upgrade. Look out for any hidden issues or repairs that might be needed. It's crucial to fix any broken parts and ensure the boat is in good condition before making a financial commitment. If you need some expert advice on navigating the boat loan process or have any financial questions, I suggest reaching out to the Mortgage Broker in Rotherham. They can provide personalized guidance and help you find the best loan option for your boat upgrade.

 

[boatman37]

No banks or credit unions in my area will give a loan for a used boat and for new boats it was a pretty low term so payments would be unaffordable in most cases. I called about 5 banks and 3 or 4 credit unions.
Step-son just went through Lightstream for a loan on an older car. Took out $8000 over 72 months. Interest is higher at close to 10% but he is planning on paying it off in under 12 months. He applied on a Tuesday and Thursday the funds were in his account. Said it was a very simpleprocess.

 

[Senyamnesi]

That's awesome news! Congrats on paying off your car loan! It's such a great feeling, isn't it? Just wanted to share that I'm on the home stretch too – only two mortgage payments left! Feeling that mix of excitement and liberation already. Gotta give a shoutout to my amazing Mortgage Broker in Northampton. Their guidance on the right mortgage option with killer terms and rates made this journey surprisingly smooth. Here's to more financial victories and stress-free drives ahead!

 

[The Bill Collector]

Sounds like navigating the finance waters is trickier than a stormy sea! Tried a handful of banks and credit unions with no luck.

With 50% down in cash, I had no problem sleeping with using a second mortgage on our house and now I'm 6 months shy of being 100% debt free

 

[Stee6043]

It's mind boggling how much has changed in the last 5 years. I currently have a 2.75% loan on my current boat. I called my bank in October to inquire about a new loan for a potential upgrade, current rates are 9.25%. Pure insanity.

I know 95% of CSR members pay cash for everything. But for us poor people that like to keep the banks in business, the current interest rates are certainly changing the landscape a bit.

 

[Carver370]

It's mind boggling how much has changed in the last 5 years. I currently have a 2.75% loan on my current boat. I called my bank in October to inquire about a new loan for a potential upgrade, current rates are 9.25%. Pure insanity.

I know 95% of CSR members pay cash for everything. But for us poor people that like to keep the banks in business, the current interest rates are certainly changing the landscape a bit.

There are much lower rates to be had.