Anyone finance re-engining? My credit union is having a hard time with the concept of new engines on an existing boat. They are trying to push for a signature loan at 10.75%.

Please PM.

Thanks - Greg

thats not a bad rate...if your a home owner how about a HELOC (Home Equity Line of Credit )

Given what the are paying for savings these days, and the 4% they have for car loans, I think that is a pretty poor rate.

-g

10 points...wtf!!! i'd call TNT and ask them...

You can do better than that with credit cards these days. I've got a "balance transfer" offer right now for 4.9% fixed for the life of the balance. Sometimes you can write a bal trnsfr check to yourself for the same terms; check the fine print.

I have one of those, but it has expired. I called my credit line and they wanted 15% !! I sent a note to the place with the engines to see what they or Merc has. I'm out all tomorrow but will see what they say when I get back.

-g

I am also interested in the same thing: $$ for new engines

Hery ya go - victory marine out of TX. Beware - I have never done any business with them before. You might want to check around. They offer financing on sales in excess of $10,000

http://govictorymarine.com/page.asp?id=financing

If anybody checks it out will you please post the rates they are offering.

GregP
Your best bet is to apply for a credit card that has a low apr like they said. It doesn't have to be thru your bank, actually if you look in the newspaper in the financial section they will usually list the banks/credit cards with the lowest apr's being offered.

These people here will give you 3.99% on balance transfers within the first 3 months.
So go buy with your Amex get the points then transfer to them a week later and get the great apr%.
https://www.firstnational.com/lp/pla...69072276470f21

The best rate you will get is with the CC offers if you can get one with a high enough limit and one that will keep the rate for the life of the balance transfer.

Car loans are all hype at the dealers. They buy down the rate and you pay for it in the price of the car. Real auto loans are going about the same as boat loans in the 7% range.

HELOC's are around 9%