question: financing and alternatives to AT
 

you guys have been helpful in the past so I figured I would post in this forum.
First question is, what is a good reputable place to apply for boat financing. What is a good rate in your opinion?

Also,
I'm wanting to buy this winter, and of course I'm not finding any AT's in my price range of the 30k mark for around 28 foot range. So what is a good alternative in ya'lls opinion. This is all ofcourse until I can afford to get a really nice AT in the future.

Get a proper Marine appraisal and try your local credit union, they had the best rate and had it ready in a few hours.

due to my area, I will more than likely be buying from a distance. we do have a company credit union but i am not sure how old they will go since they don't specialize in boat loans. Never hurts for me to ask them though.

My uncle works at a credit union and they quoted me something ridiculous like 10.9% for a 2-3 year old boat where I was putting down more than the required 20%.

I used Newcoast Financial. They are(maybe were) a sponsor on here and got a rate in the 7's which is about the best you could do back in late '07.

You might not be able to finance somthing more than 10 years old. From my experiences 2 yrs ago. I used Chesapeake Financial in Annapolis, MD. :drink:

I think you are right. Over 10 years old and you are pretty much screwed in this economy is what I have heard...

How about home equity, probably better rates and doesnt matter what the age of boat. Possibly a tax write off for the interest?

Always the best way next to cash
 

Good luck

Check credit unions, they are the best bet but you have to check a ton of them to find the right deal.

Alternatives to an AT would be a Pantera or Powerplay.

Robin at Harris marine. Just do a search. Thedonedeal.com

Robin or...
...Kyle at Newcoast Financial are my two go to folks in the finance industry.

Home equity will be maxed out. that's where 10% percent will come from. The rest is covering my truck. I'm financing because i'm only doing half the Dave Ramsey plan. I spent the last few years out of school saving for my 6 month bank in case of a loss of job, but willing to finance a boat because I'm passionate about the water. You only live once. If anything bad happens, I'll dump the house and be happy liven in the boat, of course, in my parents driveway. :)