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Boat loan interest rates?

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Old 12-12-2003, 05:04 PM
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Default Boat loan interest rates?

Anyone know what boat loan rates are right now? I'm looking at 50-60k and 10-15 year. Just trying to put some numbers together. Thanks!!!
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Old 12-12-2003, 05:17 PM
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Just got a 6.5% rate for 15 years, but yours should be a little lower for the amount you want to finance.
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Old 12-12-2003, 06:10 PM
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5.99 with the possibility of a 1/4 point deduction depending on credit score, 15 years
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Old 12-12-2003, 06:21 PM
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I understand you can write off the interest on a boat loan... do you deduct it just like the interest on a mortgage?
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Old 12-12-2003, 06:53 PM
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Depends on if it qualifies as a second home.
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Old 12-12-2003, 07:08 PM
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We're looking to move up from our 26 to something with twins and more weekending comforts... so I think it would qualify... what is needed exactly for it to qualify???
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Old 12-12-2003, 08:35 PM
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Per the IRS

This means your main home or your second home. A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities.
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Old 12-12-2003, 08:37 PM
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damn that means there coming for me
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Old 12-12-2003, 08:43 PM
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Thanks everyone!!!! Saw something worth looking at and putting some numbers together....

Here's a question.... how much would I expect to get for a boat that has a low nada value of 31k and change.... perfect condition... I mean, do they normally take a certain percentage off the low value... how do they determine what they will give me... just trying to get a ball park figure so to work some numbers...
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