boat financing
05-08-2006, 01:31 PM
#13
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Re: boat financing
That's what I thought. Didn't know if someone was actually writing 30 year marine loans. You never know these days. With 40 year mortgages and talk of 50 year notes......all bad signs for the economy.
05-08-2006, 02:34 PM
#14
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Re: boat financing
newcoast!! working with kyle (loanranger) and scott great rates and service even great price on coast guard documentation , also can't go wrong with a fellow sonic owner either !!!
05-08-2006, 02:59 PM
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Re: boat financing
Originally Posted by damdonzi
That's what I thought. Didn't know if someone was actually writing 30 year marine loans. You never know these days. With 40 year mortgages and talk of 50 year notes......all bad signs for the economy.
don't forget 84 months on a car/truck.. i'd go 50 on a home but no boat/car/truck.. house i can get back out of..
05-08-2006, 05:01 PM
#19
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Re: boat financing
I'm wondering do any lenders who cater to the marine market finance boats for commercial purpose (eg a parasail boat) I'm looking into purchasing an additional boat and adding a location to our business in NC. I know pleasure boats financed through marine lenders give you great rates and great terms, I just hate the thought of dealing with a lender who has no clue about boats and trying to get a business equipment loan to pay for a $135,000 boat. I'm just wondering if any of the minds here have some insight on this.
The business here is only really 4-5 months a year so the longer terms would allow more flexible cash flow options. Most operators simply pay thier payments for 5 years or so and then sell the boat and finance a new one. Having a coast guard inspection and diesel power a well maintained boat holds its value extremely well and there is a huge market for used boats with a COI.
The business here is only really 4-5 months a year so the longer terms would allow more flexible cash flow options. Most operators simply pay thier payments for 5 years or so and then sell the boat and finance a new one. Having a coast guard inspection and diesel power a well maintained boat holds its value extremely well and there is a huge market for used boats with a COI.
05-09-2006, 07:21 AM
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Re: boat financing
Originally Posted by jtmiller02
I'm wondering do any lenders who cater to the marine market finance boats for commercial purpose (eg a parasail boat) I'm looking into purchasing an additional boat and adding a location to our business in NC. I know pleasure boats financed through marine lenders give you great rates and great terms, I just hate the thought of dealing with a lender who has no clue about boats and trying to get a business equipment loan to pay for a $135,000 boat. I'm just wondering if any of the minds here have some insight on this.
The business here is only really 4-5 months a year so the longer terms would allow more flexible cash flow options. Most operators simply pay thier payments for 5 years or so and then sell the boat and finance a new one. Having a coast guard inspection and diesel power a well maintained boat holds its value extremely well and there is a huge market for used boats with a COI.
The business here is only really 4-5 months a year so the longer terms would allow more flexible cash flow options. Most operators simply pay thier payments for 5 years or so and then sell the boat and finance a new one. Having a coast guard inspection and diesel power a well maintained boat holds its value extremely well and there is a huge market for used boats with a COI.
Kyle
