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-   -   Boat Financing (https://www.offshoreonly.com/forums/general-boating-discussion/79777-boat-financing.html)

h2owarrior 09-10-2004 07:47 PM

Re: Boat Financing
 

Originally Posted by Von Bongo
Todays rates are:

40-74,999 5.79% for 180 mo
75-99,999 5.25% for 180 mo
100-199,999 5.25 for 240 mo
and above 200K 4.99 for 240 mo.

Mike Alford
Central Bank
1-877-456-3114
[email protected]

Is it not interesting that the more money they loan you, the lower the rate gets :rolleyes:

Von Bongo 09-10-2004 08:44 PM

Re: Boat Financing
 
Costs just as much time and effort to make a loan, service it , follow up for insurance, post payments, send tax statements and so on for a $10,000 loan as it does for a loan of $100,000.

Look at it as a volume discount.

h2owarrior 09-10-2004 08:52 PM

Re: Boat Financing
 
I like volume discounts :D :D

CigDaze 09-12-2004 11:49 AM

Re: Boat Financing
 
Good Info!
I'll call you Monday, Jodi.

RJ1340 09-12-2004 08:49 PM

Re: Boat Financing
 
Here's a financing tip: Buy a boat for which you can pay cash or find a hobby you can afford without going into debt.

wwwTOPDJcom 09-12-2004 08:55 PM

Re: Boat Financing
 

Originally Posted by CAP071
Friday I just got 5.48% from Essex for 15 years 50K

what did you buy Cappy

kitten 09-12-2004 11:35 PM

Re: Boat Financing
 

Originally Posted by Baja Daze
So, who are the major players these days with the best rates?


:)

:eek: Do a Home Equity Line at 4.25% and it's deductible!!!

Milord 09-13-2004 07:31 AM

Re: Boat Financing
 
Can anyone finance a Canadian? Not a lot of lenders that I have spoken with over here that like to finance a boat longer than 7 years. That can make payments quite large!

Panther 09-13-2004 11:02 AM

Re: Boat Financing
 

Originally Posted by kitten
:eek: Do a Home Equity Line at 4.25% and it's deductible!!!

I spoke to my tax guy about this. The boat loan intrest is also deductible as a second home. The boat need's to have a cooking surface, ie. range, microwave. It also needs to have a head.

CigDaze 09-13-2004 01:07 PM

Re: Boat Financing
 

Originally Posted by kitten
:eek: Do a Home Equity Line at 4.25% and it's deductible!!!

Works for some, but I don't think I'd want my house and boat tied together financially.


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