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North of 8

Posted 10/19/2018 6:27 PM (#921289 - in reply to #921287)
Subject: Re: Used boat financing

miket55 - 10/19/2018 6:15 PM

Muskie Gal - 10/18/2018 4:34 PM

25homes - 10/18/2018 12:17 PM

I really like my CU have couple loans through them but when I asked about a boat they treat like a car and only wanna do a loan for 4-5yrs which is usually fine but if your looking at a used 08-12 and gonna be $40k plus ID like little longer loan which I know lots of lender do extended financing on boats 10-15yrs

This is not a house, a boat is a toy. You have any idea how much interest you would pay over 15 years.

Even a 25K loan @ 1.99%, for 36 months = $770 in interest... it adds up quick!!

It does, but without looking real hard you can put that 25K in a 36 month CD and earn 2.5% to 2.6%.