As of this writing a 10 000 boat loan with bank of the west would have a starting interest rate of 8 39 a 15 000 boat loan would start at 7 89 and a 50 000 loan starts at 3 99. What is the minimum credit score for a boat loan.
You can apply online to get a rate quote and browse monthly payment amounts using their boat loan calculator.
Best boat financing rates. Boat loans can be unsecured and secured personal loans created to finance a boat purchase where this asset is used as a certain guarantee. Now that you ve decided to set sail on a new boat it s time to consider your financing options. As soon as our rates match your target rate we will send you an email.
Use our boat payment calculator to determine a monthly payment that you can afford when looking to finance a new or used boat. Although it is sometimes possible to qualify for a boat loan with fico credit scores in the 500s generally you will need 600 along with a low debt to income. Best practices view main menu.
Boat loan interest rates vary greatly based on a number of factors including credit score loan length and age of boat among others. The best rates tend to go to expensive new vessels though you can still find a good deal if you have a credit score over 670 and can afford a down payment of at least 20. If you didn t find the rate you were looking for click here to register for our rate watch program.
This loan marketplace works with more than 16 financial institutions across 48 states. Simply enter your desired amount interest rate see chart below for a sample of interest rates and the loan term over which you intend to pay back the loan. Rates starting at a low 5 and terms as long as 20 years set boat loans apart from your typical personal loan.
Get connected with a lender with rates starting at 4 87 apr. Example of a boat or rv loan. Investing retirement menu.
Dedicated lenders offer low rates and long loan terms. Pick something else if you want to borrow less than 15 000 or want 100 financing. When shopping for the best boat loan rates think about using your purchased boat as security to save more money.
It offers new and used boat purchases as well as refinance loans. Best for financing an expensive boat with good credit. Suntrust marine loan specialists can help you find the right loan today.
Essex credit offers competitive interest rates on loans financing a range of boats from houseboats to pontoon boats and everything in between. Calculate payments with our boat loans calculator. A 4 year fixed rate 65 000 loan with a 3 59 apr would have 48 monthly payments of 1 455 74.