boat financing

brdlndrman_84 · Newbie Joined: 23 Jul 2013 Posts: 8 City: pocahontas

Looking to get my first boat. Wondering if anyone has financed a boat with State Farm? That is who I'm thinking of going with wondering of they require money down. I can put money down but would rather keep it. Looking for as least money down as possible. Any suggestions? The boat is a left over new 12 supra 22v for 58900. I wasnt even wanting to buy one this year but thought that was insanely cheap for a new supra.

jgriffith · Posted: Jul 24, 2013 4:57 am Post subject:

You shouldn't ever have to put money down if your credit is good and you are not paying too much for the boat.

fish6942 · Addict Joined: 22 Feb 2006 Posts: 603

Not sure why you'd go to an insurance agency for a boat loan...

I've always received the best rates for loans like this from our credit union.

NoahTreat · Newbie Joined: 25 Jun 2013 Posts: 7 City: Sherwood

I have never gone though my insurance company before so I wouldn't know. However, my local bank (Arvest) is offering 2.9%. The money down part all depends on how much you are asking to borrow versus what the feel that boat the worth.

slidin_out · Soul Rider Joined: 05 Mar 2010 Posts: 353 City: Pearl

Credit union all the way. In the branch and loan approved in less than an hour and I was a new customer. No money down either and they put in a lower interest to match a competitor's rate at the time.

Blueliner · Newbie Joined: 27 Jun 2013 Posts: 7

I am going to put mine on my line of credit. The interest is really low. As an open loan I can pay off as much as I want to keep the interest low. I can even pay interest only if I have other expenses that particular month. Look into it. Of course I am at year 14-1/2 on a 15 yr mtg so I have lots of equity.

brdlndrman_84 · Newbie Joined: 23 Jul 2013 Posts: 8 City: pocahontas

got it done through iberia bank. supra launch 21v