They claimed I was protected.He could always keep the drives till paid in full.
I have a Friend that owns a Marina and Dealership.. for 70 years. He said NO way, your putting yourself at risk. He gave Scott 3 finance comanies to get financing. No luck there. He thinks there is more to the story... I am the optimist... The way I was raised. You look me in the eye and tell me something... I beleive it.
My problem is selling the boat for one price... Writing the bill of sale( and notorizing) for another to help with taxes. He is there and I am here..
TRUST ME I want to sell the boat. I want to help someone out if need to. I have help many times from friends to get through something. I don't need two boats. Plus my wife wants me to buy a Pontoon in the spring so my 19month old boy is going 100mph on the water. (not sure of her thinking that he wouldn't like it !!)
My thread was to get some advice on how to handle this matter. 9 out of 10 say it is not good. You say yes but you know him personally.
It is not over just got to figure the legalities out so it works for everyone.
Sit back and we shall see!!
If he can't afford to buy the boat, how is he going to afford the motors, the up keep and repairs, insurance etc. If he can only come up with $6k for a perofrmance boat, he is out of his league.
I have learned so much. I got over 100k in reciepts and if that was in another boat... newer.... or diferent manufacturer, I probably wouldn't be posting. I just feel I can't give this away.
20k for a boat with 2 -XR's/w.. sportmaster lowers. Full hd steering, intercom, A/C/heat, new Livorsi Gauges.. triple axle custom trailer. There is atleast 50k in parts going with it and I can't get 20k for it???? Crazy... I don't need to sell it. I just don't want to be a 3 boat owner. plus jet ski's....
AGain I appreciate everyone help
I'm not sure if this will help or not, but last year i purchased an 88' scarab sport. I got my loan from the NC State Employees Credit Union. They would not give me a boat loan since it was over 10 years old, but i had no problems getting a regular personal loan. I was 23 at the time with no credit history so i am getting hit hard on the interest but i had no problems getting the loan and it has worked out well for me.
So what i am saying is instead of trying to get a "boat" loan see if the banks will do a different kind of loan with different terms. This may not even be possible now as i know banks are in a completely different position than they were when i was talking to them.
Last edited by BluWaterNC; 12-14-2008 at 12:48 PM.
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