NEWCOAST DIFFERENCE

What's a Good Interest Rate

If you're looking What's a good interest rate when you buy a boat or RV? This is often the first question we hear, and while there is no easy answer, we promise you that when you work with Newcoast you're in the best place to get the most favorable answer. 

As Newcoast's Kyle Vollenweider will tell you, the answer is that it takes many factors into consideration to determine your interest rate. It's about your boat and it's about your financial history. Among the items lenders investigate before settling on an interest rate are the age of the boat or RV and its condition, the equity position your credit score, your income verification and your on-hand financial liquidity. All things that you might suspect would impact any credit decision. Once all things are considered, the bank arrives at your available interest rate.

Fortunately for Newcoast customers, we have excellent relationships across the wide spectrum of lending institutions and the industry expertise to guide customers to securing their very best financing option. “We have finance options from $25,000 to $7M and terms to 20 years,” says Vollenweider. “Different lenders all have different underwriting criteria, so we match up the application package with the lender that best matches the requested deal structure.” Newcoast makes the process streamlined and simple. “Approvals typically are received within 24 hours and are normally good for 60 days. If the request is for a used boat, it is normal that a survey, to include a sea trial, will be requested from an accredited marine surveyor prior to closing. Once the buyer accepts the boat, we send out loan docs and wire transfer funds to the seller once signed originals are received back,” says Vollenweider. All in all, Newcoast helps to make a complex transaction simple, secure and attractive through our years of experience, financing expertise and industry knowledge.