Posts: 1316
Location: Madison, WI | So far my bank is offering the lowest rate at 7.25% I'm trying to keep my payments down to $100 bucks a month. So I'm looking at a 5 yr loan for $5000. Which after all said is done i'm paying over $6000 for the boat with interest. I just can't justify in my head dropping an extra grand when i'm borrowing 5000. Then Tax!!! I didn't even think about that. If the boat is priced at $5000 that's an extra 275 right there. But if i'm going to move i have to move fast, looks like the interest rates are doing nothing but increasing.
A home equity loan is alittle out the question, they want a minimum of 10000 dollars. According to my mortgage broker I can write off the interest which would be nice. |
