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Boat Loans
Posted on 6/28/24 at 10:38 am
Posted on 6/28/24 at 10:38 am
Just sold our Z20 yesterday and looking to get a Vexus VX20 or a Caymas CX20. Checked with our credit union who have great rates but the term limit is a lot shorter than what I wanted. Has anyone had experience with SE Financial in buying a boat?
11
Posted on 6/28/24 at 11:32 am to saintkenn
LightStream
Posted on 6/28/24 at 5:17 pm to saintkenn
Went through Neighbors Credit Union for mine.
Posted on 6/28/24 at 6:36 pm to WillFerrellisking
Keesler has a no money down, 180 month term at 9.24%. Pay it off in 7 years and essentially have a 4.6 rate.
Posted on 6/28/24 at 6:42 pm to saintkenn
Won’t give you a 10 year loan, eh?
Posted on 6/28/24 at 9:12 pm to saintkenn
Lightstream, they deposited the money in my account within 3 days or so from applying and it was a better rate than my banks offered plus a ton of loan length options depending on the loan amount.
Posted on 6/28/24 at 9:15 pm to saintkenn
quote:
Keesler has a no money down, 180 month term at 9.24%. Pay it off in 7 years and essentially have a 4.6 rate.
I'm not sure that's how that works
Posted on 6/28/24 at 9:35 pm to No Colors
quote:what I was thinking. Closer to 7-8 cents I’d guess.
I'm not sure that's how that works
Posted on 6/29/24 at 9:00 am to No Colors
Simple interest loan, pay extra towards the principal, then that money never goes to interest. You can figure out your daily per diem by taking the interest amount, which is disclosed on the contract, and divide it by 5475(days in 15 years). Adjust your principal payments to account for that, pay the loan off in half the time and essentially you pay half the interest. I get that its still at a 9.24%, but the goal is to never approach fifteen actual years. Damn it, the math worked on my wife!
This post was edited on 6/29/24 at 9:04 am
Posted on 6/29/24 at 9:47 am to saintkenn
quote:
the math worked on my wife!
Women are financially illiterate
But this is a forum for grown arse men. (mostly)
I financed a car for my daughter during the pandemic. And I asked for a 48 month loan at 5.99%. And the guy came back with paperwork for a 72 month loan at 7.99%. And he said the same thing. "Pay it off earlier and the interest rate goes down"
No. It doesn't
But that works on most of humanity
Posted on 6/29/24 at 10:28 am to No Colors
I'm a finance manager at a dealership, so my wife took my word on it!
Posted on 6/29/24 at 12:39 pm to saintkenn
USAA, if you qualify, was the best when I had a boat loan
Posted on 6/29/24 at 2:08 pm to saintkenn
My loan is 9%. I will pay off the balance of the five year loan in a little more than two years. Nine percent is a friggin' high interest rate for this Boomer. But I did it anyway.
Posted on 6/30/24 at 6:17 am to saintkenn
If you need a loan to buy a boat…you don’t need a boat.
Posted on 6/30/24 at 6:25 am to BabyTac
You’re an idiot.
Posted on 6/30/24 at 7:32 am to jmorr34
quote:
LightStream
This
quote:
Lightstream, they deposited the money in my account within 3 days
And this
Very easy to deal with.
Posted on 7/1/24 at 5:09 pm to BabyTac
Yes I need a loan to buy a boat, I'd rather take a loan out and not take money out of my investment accounts. I don't want to take $65k out of an IRA to spend, I'd rather let it sit there and make money for me.
Lightstream is offering 8.59 on 144 months, that's a pretty hefty savings on the interest rate. Comes out to about $17k over the life of the loan. Just filled out an app with them.. Thanks guys!
Lightstream is offering 8.59 on 144 months, that's a pretty hefty savings on the interest rate. Comes out to about $17k over the life of the loan. Just filled out an app with them.. Thanks guys!
This post was edited on 7/1/24 at 5:24 pm
Posted on 7/1/24 at 7:27 pm to saintkenn
Credit Union probably your best bet with rates the way they are right now....
Posted on 7/2/24 at 2:14 pm to Novastar
Shoot me your info and I'll use you as a reference
saintkenn@yahoo.com
saintkenn@yahoo.com
This post was edited on 7/2/24 at 2:15 pm
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