CLA

Would it be possible for you to save for a year or two and just pay cash? Its really the best way...........

WMF

Who are you speaking too???????????

rlj676

Appearantly everyone.....we should all only pay cash, because some random internet guy told us its the "best" way.

WMF

I finance everything!!! it is a way to write off things and not pay as much every year in taxes, and I keep my money in the bank. You have 2 choice's when you are a business owner, you will pay taxes or interest!!!

rlj676

I guess in my case, in my 3 years of working since grad school I should have been living like a pauper despite a good salary so I could save for a nice boat!

Instead I bought a house (I wish I had decided to save to pay cash for that "investment" haha) and will also finance a boat, as I'm willing to pay the interest as I grasp the time value of money, and I value the boat now enough to pay it.

WMF

I have 2 of those things( houses) but it wont get you a boat loan!!! how is your loan going, I might have some news Friday on mine, it is tough right now!! Credit score, income, and assetts dont matter right now!!!

rlj676

I can get approved at one place, it just needs to be 2001 or newer, and well under book.

I'm being killed by length of employment (time in grad school, etc means nothing to them now) and debt to income (which would have in the past been fine.)

What kills me on debt to income is it doesn't matter if I'm single, no kids, and very low bills or had 5 kids and tons of bills, still the same damn guideline.

I'm pretty sure your big problem is lack of documentation as a business owner? What a joke.

WMF

YES and NO, it seems to change with every boat I want to but, the banks will give me up to 70K on whatever I want, no matter the year, make or model, or power, but I want a newer boat for around 120K. But the Banks make no sense to me, they will do a 2001 Donzi 28 ZX Scorpion for 60K but not a 2007 Donzi 35ZR for 100K?? with warrenty, it makes no sense to me, and yes I hide alot of income, you have too if you own a business!!!!

brian18330

try chesapeake financial, like I've said before....he got me into Wilmington trust 50k deal they loaned 50k,8.99% for 15 years.....Then today I get my coast guard docs and with it is a notorized bill of sale for $1 !!! The dmv people said we have to pay .06 in sales tax!!! I couldnt believe it!.

WMF

I really dont want to get into me and Wilmington Trust, I have banked with them for over 10 Years, I run all my Business Accounts thru them!! and my Credit Card processing!, They told me no after all the years I have banked with them, I am in the process of switching accounts right now from Wilmington trust to PNC because of what they did to me!!!!