View Poll Results: is ypour boat paid off or on a loan ?
totally paid off
200
51.55%
I have a loan somewhere that helps me have it.
188
48.45%
Voters: 388. You may not vote on this poll

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is your boat paid off or on a loan ?

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Old 12-17-2006, 10:28 PM
  #31
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Default Re: is your boat paid off or on a loan ?

Drugs
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Old 12-17-2006, 10:49 PM
  #32
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Default Re: is your boat paid off or on a loan ?

Quote:
Originally Posted by Downtown42
Drugs
YOU JUST MADE ME LOL SO HARD GOOD CALL !!
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Old 12-17-2006, 11:14 PM
  #33
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Default Re: is your boat paid off or on a loan ?

I have a loan but my house is almost paid for and my bussiness is totally paid for so personally I would rather invest than pay for a boat cash also I'm 1.99 % years 1 to 2 and 2 to 20 3.49% so interest is minamal
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Old 12-17-2006, 11:52 PM
  #34
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Default Re: is your boat paid off or on a loan ?

You can get a 20 yr to qualify and pay it off in 5,10,15 if there is no prepayment penalty. Just figure your payments at whatever term you want to pay early and put a note in each month stating you want the extra money to go to principle. No need to switch term, you may need the extra money if things get tough. Also, you can deduct the interest off Fed Taxes if the boat qualifies for living quarters and you overnight 14 day per year, just as you write off home loan interest.
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Old 12-18-2006, 02:54 AM
  #35
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Default Re: is your boat paid off or on a loan ?

I owned the first couple of boats cash but now I'm buying a newer fountain and will get at loan for half of it. 80k
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Old 12-18-2006, 05:48 AM
  #36
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Default Re: is your boat paid off or on a loan ?

Paid cash for mine. Money came from an inheritance.
Using part of that money may not have been the right thing, but it did keep me from having to sell it come the divorce. Florida law says that anything purchased with a personal inheritance or money earned before we were married, is mine.
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Old 12-18-2006, 07:51 AM
  #37
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Default Re: is your boat paid off or on a loan ?

Two paid for and one on a loan...
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Old 12-18-2006, 08:20 AM
  #38
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Default Re: is your boat paid off or on a loan ?

Our Nordic on a loan with National City Bank, (Watch out for these idiots!, whole different story! ) and we always pay off our loans early. The Seadoo is payed for, and we'll pay off the Nordic real soon, if I can't grt this crap straighten out with National City bank!
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Old 12-18-2006, 10:01 AM
  #39
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Default Re: is your boat paid off or on a loan ?

Quote:
Originally Posted by jeff32
you guys are lucky to have your interest on houses deductible. In Canada, we don't. But we have other good things you don't, like free health care ( I hope I have the right words...)
FREE? health care.. Im pretty sure your taxes pay for that
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Old 12-18-2006, 10:05 AM
  #40
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Default Re: is your boat paid off or on a loan ?

I cant buy the argument that having liguidity for investments can return dividends high enough to compensate for depreciation and interest on a boat loan. You would have to make 20% on your money to break even.
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