Offshoreonly.com - Refinancing

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Mackattack

11-01-2008 09:30 AM

Refinancing

I purchased my boat last year, for a 7% loan rate from Newcoast Financial. Has anyone refinanced to a better rate with Newcoast?

The Fed has dropped the rate several times, I think I should be able to get a better rate now.

Griff

11-01-2008 11:37 PM

Boat rates are up above 8% now. There are a lot of other factors that affect boat loan rates besides the fed prime.
I highly doubt you will find any rate better than what you have. Wait until the economy stabilizes and go from there.

Quicksilver

11-02-2008 06:55 AM

Quote:

Originally Posted by Mackattack (Post 2729655)

The Fed has dropped the rate several times, I think I should be able to get a better rate now.

Doesn't really work that way :D

Von Bongo

11-02-2008 07:34 AM

Read this thread..prime has nothing to do with it, bond rates do

http://www.offshoreonly.com/forums/i...nce-rates.html

ZXXX Donzi

11-02-2008 06:05 PM

Quote:

Originally Posted by Von Bongo (Post 2730103)

Read this thread..prime has nothing to do with it, bond rates do

http://www.offshoreonly.com/forums/i...nce-rates.html

Yep, and spreads too. 7% is pretty good

johnnyboatman

11-08-2008 07:21 PM

bank of the west says 8.5 on boat loans now

five cent worth

11-11-2008 06:32 PM

I am at 8% and I re-fin in the middle of the summer.

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