For those who bought a NEW BOAT before.

[Ducktrickster]

Many investment savvy people would tell you to borrow what you can with the low interest rates and invest your down payment.

[weedeater]

Call the credit unions in your area and check their rates and see if they will let you join. Last month our credit union was giving 1.9% on new and used boats, atv, motorcycle, cars and trucks.....find a better deal on financing then that

[SaltyShaw]

10 years is way to long to finance a boat IMO
5 years max is what i would do, im with pox long stretched out term = more interest you pay to them!

[lsufish]

Unless you are a professional guide and you are using the boat for business, financing a toy for 10 years that will depreciate and be worthless is crazy. You should always pay cash for your toys. If youMUST have the boat, finance for no more than 36 months.

[alphaman]

[QUOTE=lsufish;424629]Unless you are a professional guide and you are using the boat for business, financing a toy for 10 years that will depreciate and be worthless is crazy. You should always pay cash for your toys. If youMUST have the boat, finance for no more than 36 months.[/QUOTE

If i could i would! but it must be nice when you can pay cash for a 30k boat, are finance 30k+ for 3 years just saying

[alphaman]

Thanks everyone for all the info on this subject!!

[weedeater]

sell your kidneys

[alphaman]

Originally Posted by weedeater

sell your kidneys

lol:*****: or place top 3 in the triple jump at the olympics this summer ill definitely be paying cash for the boat!!

[2ndamendment]

[quote=alphaman;424710]

Originally Posted by lsufish

Unless you are a professional guide and you are using the boat for business, financing a toy for 10 years that will depreciate and be worthless is crazy. You should always pay cash for your toys. If youMUST have the boat, finance for no more than 36 months.[/QUOTE

If i could i would! but it must be nice when you can pay cash for a 30k boat, are finance 30k+ for 3 years just saying

Alphaman it is called financial self discipline. One does not have to be wealthy to buy a 30k boat. Just save until you have enough. Even better buy used. Let someone else take the depreciation hit.

[alphaman]

[quote=2ndamendment;424722]

Originally Posted by alphaman

Alphaman it is called financial self discipline. One does not have to be wealthy to buy a 30k boat. Just save until you have enough. Even better buy used. Let someone else take the depreciation hit.

O trust me i know. thats what im doing saving, i have a plan.

[Captain Mike P.]

Which ever you decide.. Check out Jefferson Financial. When I bought my boat new I went through them, which was the dealers buddy, but I got 2% interests on my loan..

[alphaman]

Originally Posted by Captain Mike P.

Which ever you decide.. Check out Jefferson Financial. When I bought my boat new I went through them, which was the dealers buddy, but I got 2% interests on my loan..

Thanks captian mike.

[alphaman]

I see why you guys say finance for no more than 5 years. The interest sky rockets if you have a longer term.

[SaltyShaw]

Originally Posted by alphaman

I see why you guys say finance for no more than 5 years. The interest sky rockets if you have a longer term.

3 years is ideal but yes after 5 years it's ridiculous
I was fortunate enough to save the cheddar and pull out a small personal loan and pay cash for mine
2 years financed on the loan and a very low interest rate