Financing a new boat?

[Nasty]

How many of you'll went with the 12 year financing when purchasing your boat? When you crunch the number it seems like robbery.

[jsmoke222000]

I went 12 years with Bank of the West. I pay double payments though. What did you get?

["W"]

How many of you'll went with the 12 year financing when purchasing your boat? When you crunch the number it seems like robbery.

Damn....Did not know you could finance a boat that long???? Most Credit Unions have good rates right now....If your company has one

[Ray]

I have banked with Calcasieu Marine/Hibernia/Capitol One for 30 years.
They wanted 18.5% for a boat loan.
The boat dealer wanted 8%.
I got 6.5% from my Credit Union.
I got a 5 year note, not a 12 year.

[fishinpox]

shop around i did mine with neighbors fedral credit union for 8 years but couldnt stand thinking about all that intrest so i payed it off a year after i bought it. my friend told me there is a credit union called eagle something but they were giving him something crazy like 3.7 percent on 10 years . i know that your rate will go up the longer you streach it out

[swamp snorkler]

You dont have to be a member to get a loan from a credit union. I did it it was very easy.

[exspeck big specks]

JP Morgan just quit doing boat and RV loans--4-those who care
too risk adverse

[Nasty]

I have 6 months to think about it. I am leaning to the blue wave 180 V-bay with 115 Suzuki. It should go 47 at wot. It should get no less than 5 miles to the gallon. I am looking for smaller rig than I have now. I was thinking the credit union route too. Or, paying double payments with the 12 year deal.

[Salty]

I have 6 months to think about it. I am leaning to the blue wave 180 V-bay with 115 Suzuki. It should go 47 at wot. It should get no less than 5 miles to the gallon. I am looking for smaller rig than I have now. I was thinking the credit union route too. Or, paying double payments with the 12 year deal.


Blue Wave and Suzuki suck.....ain't what W's got. :spineyes:

[MulletBreath]

financing is the way to go. CSE 10 year loan at 5.75 steadily keeps my line in the water any day i choose and from prien lake to the rigs. i love the low notes and get them directly withdrawn, so i never even notice the money is gone. once this one's paid off, its time to sell and finance a 25' shearwater!!!!:help:

[Deadly D]

Salty you know he has that 1200 sea fox with a trolling motor:*****::*****::*****::*****:

[Salty]

Salty you know he has that 1200 sea fox with a trolling motor:*****::*****::*****::*****:

Yep, Minn Kota sucks 'cause he's got a MotorGuide and it's a beast....24 lb thrust and 30" shaft.

Wait a minute...I might have the numbers backwards. :eek:

[Deadly D]

Yep, Minn Kota sucks 'cause he's got a MotorGuide and it's a beast....24 lb thrust and 30" shaft.

Wait a minute...I might have the numbers backwards. :eek:
omg you going to have to send me another key board:*****::*****:

[LaAngler]

12 years is a long time on a depreciating asset

[Reel Bender]

12 years is a long time on a depreciating asset


Thats what I was thinking.

You positive you going to keep it for 12 years?

[Salty]

omg you going to have to send me another key board:*****::*****:


D, you average about a keyboard a week. :)

[all star rod]

Salty I am glad the I have two things that W thinks are the best: Curado Reel and Yamaha 4 stroke!:*****:Salty, do you use anything that W uses???? Seems you do not!:cry:
Nasty I did mine for 8 years and hope to pay it in 6-7 thru Dow Federal Credit Union. BTW, I do not work for Dow. Anyone can get a loan thru them if your credit is good. Got it for 7.9%.

[Deadly D]

D, you average about a keyboard a week. :)
its all your fault or should I say W's. That boy dont stand a chance with you:*****:I know we are talking on the wrong thread but who cares

[Ray]

Thru the Credit Union I uses, they knocked off 1/2% if you put down 20% if the
total price.

[Salty]

its all your fault or should I say W's. That boy dont stand a chance with you:*****:I know we are talking on the wrong thread but who cares


The SOONER he realizes that....the better off he'll be. :eek:

[Capt. Ryan Rachunek]

If you're financing a boat for more than five years, your probably stretching yourself too thin.....

[Dink]

Save your money for a year and pay cash.............I'm done giving the banks all that money.........Debt free is the way to be!!!! Except for the house of course.........

[Nasty]

Thanks for the advice guys! I don't think I'll be going down the 10 or 12 year route! The credit union is probably the way I'll go.

[Nasty]

I'm starting to rethink if I really want to buy new. I have always bought 2nd hand. I know there is always a good used boat out there. Anyone familiar with the Wellcraft steplift v20 hulls? I can get one of those dirt cheap and use as a close-in rig boat. Only thing it will look like an antique.