Boat Loan

[Sweet Caroline]

Looking to upgrade. Anybody on here that bought a boat recently have any good recommendations on where to appy for a boat loan?

[Sk8man]

Credit Unions usually have good rates.

[PennYan20]

 Good afternoon! I am a member of a Credit Union. I'm not sure where you are located. I have taken money out on my 2nd mortage for boats. I have also taken loans out just for my boat @ 10%. I bought a 2014 Chevy Silverado. I'm paying 2.22% for 6 years. Steve......

[BAITNH]

right now   at a  credit union  about 3% here in NH

[stinger]

If you own a home and can get a home equity loan the interest rates are usually pretty good. The interest is also deductible.

[Chas0218]

Home equity is where it is at. You can deduct that from your taxes where other loans you cannot. I know a lot of people that buy cars on home equity if the interest rates are good enough because of the tax deduction.

[Tall Tails]

Going thru Trident lending right now.  It was recommended by a coworker and they have been fantastic.   Great rates on boat loans right now.

[MikeyP]

Home equity is where it is at. You can deduct that from your taxes where other loans you cannot. I know a lot of people that buy cars on home equity if the interest rates are good enough because of the tax deduction.

Not quite accurate....You can deduct the interest on a boat loan if it has a stove, a toilet and a place to sleep. In otherwards, it's treated like a vacation home.

[lost a lure]

Not quite accurate....You can deduct the interest on a boat loan if it has a stove, a toilet and a place to sleep. In otherwards, it's treated like a vacation home.

That's not quite accurate either. The galley needs to be permanent, not the one burner alcohol stove thing.

[Chas0218]

Well I stand corrected then.

[MikeyP]

That's not quite accurate either. The galley needs to be permanent, not the one burner alcohol stove thing.

Kind of picking at straws....Okay then permanent!

Edited January 27, 2016 by MikeyP

[stinger]

What size boat are we talking about?

[lost a lure]

Kind of picking at straws....Okay then permanent!

That's your government not my rule

[PennYan20]

I took a Home Improvement loan out years ago when i divorced my 1st wife, as I had to pay her attorney fees. The Credit Union asked me what Home Improvements I would be making? I told them that I booted the Bride for cheating on me numerous times, and that's why I needed the money. I had a check that afternoon! True story! Steve..........