Who has financed though BRP/GE

[TVZ1965]

Hey was wonder who all took BRP up on there financing here in the last couple years. I know that the 6% look great a couple of years ago when I got my boat. But now after talking to my credit Union the way they (BRP/GE) are doing the compond daily interest didn't seem right to them. example on a balance of say 30,000 they are charging $5.50 a day in interest at supposly a 6.5% interest rate. Not a finacial person at all but does this sound normal.
So over 2/3 of each of my payments are going to interest.:banghead:

 

[Dr Honda]

15 year loan?

They treat the long loans like a Mortgage payment rather than a car payment. Also, to push it up to 15 years... yes... you are paying very little to the principle. If you made it a 6 year loan, your payment would be $500/mo. (same interest, just paying the principle down quicker)

Get your credit union to refi for you.