Help a girl get out on the water...

[jamesgreen]

Re: Help a girl get out on the water...

Truth in lending. They have to tell you everything and there should be something to sign.

 

[salty87]

Re: Help a girl get out on the water...

i'd keep looking too. my bank, where my checking account is, financed me at competitive rates and no bs. that early payoff penalty is crap. they hold you to a higher rate and force you to pay it for 3 years, no thanks...plus fees? please<br /><br />if you know you're going to pay it off earlier, why not get a shorter term? i hope the answer doesn't have to do with the size of the pymts. your operating costs, depending on how much you run it, will probably be higher than the note. boats are terrible things to fall behind on.<br /><br />either way, good luck with your search! and to your original question...unless your credit is bad already, no those fees aren't everywhere.

 

[Boomyal]

Re: Help a girl get out on the water...

kyboatgirl, are you aware of the rule of 78's? If you aren't you may be in for a rude shock when you went to pay off that loan in 3 years.

 

[oceansbreeze]

Re: Help a girl get out on the water...

credit line!!<br /><br />Get a credit line, this lets you set a comfortable monthly payment, and allow you to overpay a little each month..... there's no limit on years, and very fair rates - no fees associated either. I originally ot my credit line 10 years ago for my last boat..... paid off in 3 years, then bought a car with it..... paid that off in 2 years.... they've increased it as time went by and I proved my credit worthiness....<br /><br />Maybe something to consider anyway...... so much more flexibility. My rate is 6.75% - only obligation every month is interest, which comes out of my account on a preset date..... then, it's up to me to make payments on the principal as I can manage.... even if it's $10 or $1,000...