Nope!!I was not being critical and apologise if it sounded that way. In my case I had a house to pay off with kids in school, bla bla bla, the story goes on, LOL. For sure buy your boat now and enjoy it. If you have kids your building memories and fun on the water in the summer time, does it get any better.
Maybe it depends on the area. I could get 2.99% on a new boat.4-4.5% is a normal interest on boats at credit unions. They have a higher than normal incidence of problem loans, and losses are relatively high on repossessions. And long term financing on boats (and RV's) add to the problem. Unfortunately, all us good paying customers have to pay for the sins of others.
If you have good credit (FICO) and the C/U won't come down to something reasonable, go join another credit union with better rates.
That is crazy. Where do you live? 2.99% is common for a boat or RV around here. Your credit is pretty good.called the CU again. ran my credit and my score is about 730-740. not great but not bad. i called today and didn't give them my name or anything so they had no idea who i was. on a 15 year old boat interest is 13.5%. on a 2013 it is 12.5%. on a brand new one it is 11.5%. and the longest they will go is 72 months. time to look elsewhere
called the CU again. ran my credit and my score is about 730-740. not great but not bad. i called today and didn't give them my name or anything so they had no idea who i was. on a 15 year old boat interest is 13.5%. on a 2013 it is 12.5%. on a brand new one it is 11.5%. and the longest they will go is 72 months. time to look elsewhere