Boat Financing ?'s

[Weave]

Never had a loan on a boat before and was wondering what you guys thought would be the best bet for a loan of about 20K? Both wife and I have scores over 750.

I tought about a home equity because the rate maybe more favorable...?

Russo Marine has also offered to go through their finance dept.

Help!

 

[estebanj]

$20k is a small loan, so look for a 5 year option (much like a car). Maybe 10, but you'll be paying a lot in interest. I would simply go with whoever gives you the lowest rate.

Esteban

 

[Shining]

My first boat was 20K. I went with M&T Bank. They were good to work with.
My current boat is with a home equity loan.
Good luck in your search.

 

[Bridog]

Weave, I can't tell by your signature as to where you are located, but you might want to try Scott Financial at www.marineloan.com. They are usually the lowest and great to work with. Good luck, Brian

 

[Weave]

Thanks for all the info ....Im in MA Bridog.

Settled on a rate break since they were offering special rates due to Boston Boat Show.