Boat Loans

gibbs114 · **Posted:** Tue Nov 14, 2017 5:44 pm

Looking for a new place to get good boat loans. Who is everyone using?

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Brian5366 · **Joined:** Wed Mar 08, 2017 11:20 am **Posts:** 54

My credit union down here in Georgia beat every bank and dealer i spoke to.

gibbs114 · **Posted:** Tue Nov 14, 2017 6:43 pm

I usually use State Farm Bank but I believe there are probably better interest rates out there.

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malcolmpless · **Joined:** Wed Nov 08, 2017 12:27 pm **Posts:** 1

I just financing yesterday for my new '17, 4.34% for 7 years, through my local credit union, Patriot Federal Credit Union.

AJWest · **Posted:** Wed Nov 15, 2017 7:33 am

2.99% back in 2014 through big bank

Bryan1 · **Joined:** Thu Mar 30, 2017 8:48 am **Posts:** 26

What ever you do, do not use the dealer. Get your own loan. Dealers can add to the interest rate to get a higher kick back. We purchased a new camper a couple years ago and got the loan through the dealer at like 4%. Purchased our T23 4 months later and got our loan through the same credit union at 2.99%. While we were in there we asked about the interest rate on our camper and the loan officer pulled it up and told us they approved us at 2.79% for the camper. She then told us that dealers do that all the time to make more $$ off the loan kick back. So we refinanced the camper that day as well.

vanamp · **Joined:** Wed Feb 05, 2014 9:02 am **Posts:** 272

Bryan1 wrote:

What ever you do, do not use the dealer. Get your own loan. Dealers can add to the interest rate to get a higher kick back. We purchased a new camper a couple years ago and got the loan through the dealer at like 4%. Purchased our T23 4 months later and got our loan through the same credit union at 2.99%. While we were in there we asked about the interest rate on our camper and the loan officer pulled it up and told us they approved us at 2.79% for the camper. She then told us that dealers do that all the time to make more $$ off the loan kick back. So we refinanced the camper that day as well.

This depends on the dealer, my dealer got me a better rate then I could find on my own.

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r33pwrd · **Posted:** Wed Nov 15, 2017 9:44 pm

vanamp wrote:

Bryan1 wrote:

What ever you do, do not use the dealer. Get your own loan. Dealers can add to the interest rate to get a higher kick back. We purchased a new camper a couple years ago and got the loan through the dealer at like 4%. Purchased our T23 4 months later and got our loan through the same credit union at 2.99%. While we were in there we asked about the interest rate on our camper and the loan officer pulled it up and told us they approved us at 2.79% for the camper. She then told us that dealers do that all the time to make more $$ off the loan kick back. So we refinanced the camper that day as well.

This depends on the dealer, my dealer got me a better rate then I could find on my own.

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I find it best to get a good rate from your CU and offer the dealer a chance at beating it.. worse case they are happy you let them take a shot and you get a good rate.

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MNSurfDad · **Joined:** Sun Aug 23, 2015 7:00 pm **Posts:** 81

Just did the same thing getting my new tow rig. CU came in at 2.5%. Dealer came in with a US bank offer at 2%. Worthwhile for sure to let them earn your money.

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alexandera · **Posted:** Thu Nov 23, 2017 9:18 am

Second allowing the dealer to take a shot... I did the same thing with my CU offer; dealer beat it by 1 point.

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