Just got a quote of 5.25% for 20. I got it from a broker in Chicago. Could go lower for the boat show.

Beware of the Formula plan. Be "an educated consumer" would be a better way to put it. You need to be sure you can handle the higher payments after the "special" rate ends or you could end up in the hurt locker.

plus you need to do the math and determine wether the rate break for x months or the rebate is worth more money to you. Amortization / declining balance tables and a good idea of your expected ownership term, will tell you which saves you more money in the anticipated ownership period. It can go both ways...though I found for example 150K /7 yr. ownership blah blah that closeout was less (all other things equal) financing more money (no rebate in lieu of financing) by taking the rate. I had to prove this to some with the numbers.

I've got mine with Bank of the West and they have dropped my rates twice since the purchase at my request. I had Key Bank on a previous boat and I wasn't too happy with their customer service.

Also I thought Bank of the West was a dealer only financial institution, or is it different on the left coast?...Essex I believe also is really a broker not a lender...

dealer only, I believe...

Ok, for a loan in the 150K range with great credit the best I can get you from Key is 5.75% on a purchase deal (no refi's are 5.99%) on 20 years.

If you are interested let me know, no points or rate adjustments with this loan.

4.75% Over 23 years

Second National Bank of Ohio

Through National Marine

most excellent..............