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 Post subject: Boat Loans
PostPosted: Tue Nov 14, 2017 5:44 pm 
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Team Axis
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Joined: Wed Nov 30, 2011 8:08 pm
Posts: 720
Location: West Tennessee
Looking for a new place to get good boat loans. Who is everyone using?


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 Post subject: Re: Boat Loans
PostPosted: Tue Nov 14, 2017 5:45 pm 
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Boater

Joined: Wed Mar 08, 2017 11:20 am
Posts: 43
My credit union down here in Georgia beat every bank and dealer i spoke to.


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 Post subject: Re: Boat Loans
PostPosted: Tue Nov 14, 2017 6:43 pm 
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Team Axis
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Joined: Wed Nov 30, 2011 8:08 pm
Posts: 720
Location: West Tennessee
I usually use State Farm Bank but I believe there are probably better interest rates out there.


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 Post subject: Re: Boat Loans
PostPosted: Wed Nov 15, 2017 6:53 am 
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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.


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 Post subject: Re: Boat Loans
PostPosted: Wed Nov 15, 2017 7:33 am 
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Team Axis

Joined: Mon May 23, 2011 11:02 am
Posts: 1839
Location: Copperas Cove, TX
2.99% back in 2014 through big bank

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 Post subject: Re: Boat Loans
PostPosted: Wed Nov 15, 2017 8:44 am 
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Joined: Thu Mar 30, 2017 8:48 am
Posts: 5
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.


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 Post subject: Re: Boat Loans
PostPosted: Wed Nov 15, 2017 1:10 pm 
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Team Axis

Joined: Wed Feb 05, 2014 9:02 am
Posts: 268
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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 Post subject: Re: Boat Loans
PostPosted: Wed Nov 15, 2017 9:44 pm 
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Team Axis

Joined: Sat Jun 06, 2015 10:35 pm
Posts: 1111
Location: Sammamish WA
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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 Post subject: Re: Boat Loans
PostPosted: Wed Nov 15, 2017 10:46 pm 
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Team Axis

Joined: Sun Aug 23, 2015 7:00 pm
Posts: 62
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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