Boat Financing

  • phigs
    Twin Cities, MN
    Posts: 1046
    February 17, 2011 at 4:04 am #1270852

    looking for some suggestions on where to look for used boat financing. I have checked with my bank – wells fargo – and interest rates on used marine, for long term loans, run from 12%-18%.

    hoping to find something less than that. otherwise i’m going to have to buy new, to get a lower interest rate.

    are there any places that specialize in these types of loans?

    francisco4
    Holmen, WI
    Posts: 3607
    February 17, 2011 at 4:08 am #938262

    Have you checked with Bob Bowman? He is a member here. No first hand experience with him, but have read MANY positive reviews.

    FDR

    2iceman
    Gem Lake, Minnesota
    Posts: 98
    February 17, 2011 at 4:09 am #938263

    Try City and County credit union. I do believe there is a member that works for City and County Credit Union on IDO. But your rates should be significantly better.

    huskerdu
    Posts: 592
    February 17, 2011 at 6:31 am #938268

    Try the credit unions the rates are much better on Boat loans. On first boat I went thru TCF not the best rates or service. When I checked on the last boat I bought, the credit unions had the best rates, after doing the math I decided to pay cash.

    Brian Klawitter
    Keymaster
    Minnesota/Wisconsin Mississippi River
    Posts: 59992
    February 17, 2011 at 6:53 am #938269

    Many many Ido Members love this guy.

    Bob Bowman – Loan Officer
    City – County Federal Credit Union
    “Get the lowest possible rate on your boat, ATV or vehicle!”
    New Phone Number! 763-549-6402

    and PHIGS the two of you will hit it off very well.

    Pete Bauer
    Stillwater, MN
    Posts: 2599
    February 17, 2011 at 12:04 pm #938293

    Bob Bowman gets my vote! Just bought a used boat in November and financed a portion through Bob at CCFCU, easy as a few phone calls and a sit down. A fantastic experience

    When you mention long term loan, how long were you thinking?

    Ralph Wiggum
    Maple Grove, MN
    Posts: 11764
    February 17, 2011 at 12:10 pm #938297

    I’d check with Bob, too. I have never actually gotten a loan from him, but I have called him several times with questions about loan options and he gets from me!

    ScottPugh
    Rogers / Grand Rapids
    Posts: 561
    February 17, 2011 at 12:31 pm #938307

    Bob Bowman

    Truck, Home IMprovement & Boat! Always A++++ service!

    kooty
    Keymaster
    1 hour 15 mins to the Pond
    Posts: 18101
    February 17, 2011 at 12:47 pm #938311

    I’ve had several transactions with Bob and CCFCU. I started out as a customer, now we are fishing buddies. Can’t say enough good things about Bob and his customer service!

    Bob Bowman
    MN
    Posts: 3544
    February 17, 2011 at 1:41 pm #938340

    Thanks guys

    I sent you a PM PHIGS, feel free to give me a call in the office anytime @ 763-549-6402.

    Ralph Wiggum
    Maple Grove, MN
    Posts: 11764
    February 17, 2011 at 1:41 pm #938342

    Quote:

    Thanks guys

    You owe me a few now!

    Brian Klawitter
    Keymaster
    Minnesota/Wisconsin Mississippi River
    Posts: 59992
    February 17, 2011 at 1:42 pm #938343

    Quote:

    feel free to give me a call in the office anytime @ 763-549-6402.

    Before Muskies season opens.

    Bob Bowman
    MN
    Posts: 3544
    February 17, 2011 at 1:55 pm #938346

    Quote:

    Quote:

    feel free to give me a call in the office anytime @ 763-549-6402.

    Before Muskies season opens.

    Then use my cell, I’ve been know to close a loan or two from the boat

    You owe me a few now! -10-4 good buddy

    phigs
    Twin Cities, MN
    Posts: 1046
    February 17, 2011 at 1:57 pm #938348

    Quote:

    When you mention long term loan, how long were you thinking?

    a lot of banks offer 10, 12, and 15 year loans on marine.

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