About ready to buy..
01-30-2011, 08:30 PM
#41
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didn't read all the posts but if you can find power, this might be a good buy.http://www.offshoreonly.com/classifi...o36832-en.html
01-30-2011, 08:32 PM
#42
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Sheer Insanity--you are exactly right, I started with absolutely nothing and have worked for everything I have. I had a good idea, and took a chance and went for it. Like I have said before, "i wasn't born with a silver spoon in my mouth, my dad put a wrench in my hand and taught me how to use it".
My friend, I didn't mean to piss you off at all, I was really trying to give you some mature, age old advise. I was probably driving boats before you were even born. Financing/borrowing over ones head is what is wrong with this world as we speak. People that bought $800,000 homes on a $40,000/year salary is the reason America is in the shape that we are in now. As you asked, "mistakes made by others". My serious point is.... I hope you don't plan to buy a $80,000 boat and finance it for 15 years like I know people that actually have. Start thinking ahead and save, save, save. If you can really afford to buy that $80,000 boat, you shouldn't have a problem saving enough to "just write a check" in 3 to 5 years, IF you start now by thinking ahead. The big plus here, is all the interest you save and can apply that interest saved to future purchases. And, by doing this, you don't have to worry so much about those "credit scores".
Just trying to help a little with what I've learned, over time.
Good luck with your boat hunting.
My friend, I didn't mean to piss you off at all, I was really trying to give you some mature, age old advise. I was probably driving boats before you were even born. Financing/borrowing over ones head is what is wrong with this world as we speak. People that bought $800,000 homes on a $40,000/year salary is the reason America is in the shape that we are in now. As you asked, "mistakes made by others". My serious point is.... I hope you don't plan to buy a $80,000 boat and finance it for 15 years like I know people that actually have. Start thinking ahead and save, save, save. If you can really afford to buy that $80,000 boat, you shouldn't have a problem saving enough to "just write a check" in 3 to 5 years, IF you start now by thinking ahead. The big plus here, is all the interest you save and can apply that interest saved to future purchases. And, by doing this, you don't have to worry so much about those "credit scores".
Just trying to help a little with what I've learned, over time.
Good luck with your boat hunting.
01-30-2011, 10:34 PM
#43
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I got my loan from a guy on OSO I think his screen name was "loan ranger" or something like that. Try a search. My boat was 7 yrs old at the time so there are loans out there.
As for high 80's, low 90's with a 500... good luck. I've hit 76 with my boat (500 EFI) and cruises nicely at 54. Keep us posted.
As for high 80's, low 90's with a 500... good luck. I've hit 76 with my boat (500 EFI) and cruises nicely at 54. Keep us posted.
01-31-2011, 07:42 AM
#44
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I guess your string went bad on you and turned into a discussion about financing a new boat. It is very hard right now to get a boat loan from anyone on a regular boat much less a "racing boat" like the banks consider a go fast. I guess the overall questions is whether a boat should even be financed and that is a very personal issue. I have always bought used, older boats that I could pay cash for and pay a little along the way to fix them up. I can't somehow bring myself to sign a note on a boat that has me paying for every month because the cost of ownership is so high. We can spend $1500 to $2000 on a weekend of out of town boating regatta including gas, hotels, meals etc. Just to go boating at our hometown lake, we will run through $300 to $500 of gas a day and then if we brake something??? I guess the point I am making is there are a bunch of really nice boats you can buy for the 25k in cash you have and have a great time getting out on the water. I believe one can have a great time in any boat that doesn't break down and if it is financed or not is very private matter to be decided by the person who is buying. My father always said the sign of whether on can afford something or not is if he can pay cash and not miss it. All I can tell you is there is some great deals out there. I was able to buy a 2008 cat that had never been sold and thus was still under warranty and I got it for less than have the asking price they had it for at the Miami boat show. Good luck in your hunt for a new boat.
01-31-2011, 08:25 AM
#45
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This thread shouldn't have gotten de-railed.
There is nothing at all wrong with financing things. I could have saved up and bought my Cafe Racer this year - or I could have financed it, bought it 5 years ago and spent 5 years on the water with old friends and making new friends. I chose the latter and am glad I did.
SheerInsanity - there is a forum titled "Insurance and Finance". There are a couple lenders in there that cater to our type of boating - might be worth a call to them to discuss. They know the markets/boats/etc....
There is nothing at all wrong with financing things. I could have saved up and bought my Cafe Racer this year - or I could have financed it, bought it 5 years ago and spent 5 years on the water with old friends and making new friends. I chose the latter and am glad I did.
SheerInsanity - there is a forum titled "Insurance and Finance". There are a couple lenders in there that cater to our type of boating - might be worth a call to them to discuss. They know the markets/boats/etc....
01-31-2011, 08:32 AM
#46
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I've gotten my past four boat loans through US Bank. They will loan 15 year terms and up to 90% of NADA (even on older. Mine is '99). I bought my 342 this past August. They required me to document it.
I insure everything with State Farm. I pay $490 a year on my Baja and trailer. Boat on the Ohio River.
I insure everything with State Farm. I pay $490 a year on my Baja and trailer. Boat on the Ohio River.
Last edited by Baja_342; 01-31-2011 at 08:38 AM.
01-31-2011, 08:41 AM
#47
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Sheer Insanity--you are exactly right, I started with absolutely nothing and have worked for everything I have. I had a good idea, and took a chance and went for it. Like I have said before, "i wasn't born with a silver spoon in my mouth, my dad put a wrench in my hand and taught me how to use it".
My friend, I didn't mean to piss you off at all, I was really trying to give you some mature, age old advise. I was probably driving boats before you were even born. Financing/borrowing over ones head is what is wrong with this world as we speak. People that bought $800,000 homes on a $40,000/year salary is the reason America is in the shape that we are in now. As you asked, "mistakes made by others". My serious point is.... I hope you don't plan to buy a $80,000 boat and finance it for 15 years like I know people that actually have. Start thinking ahead and save, save, save. If you can really afford to buy that $80,000 boat, you shouldn't have a problem saving enough to "just write a check" in 3 to 5 years, IF you start now by thinking ahead. The big plus here, is all the interest you save and can apply that interest saved to future purchases. And, by doing this, you don't have to worry so much about those "credit scores".
Just trying to help a little with what I've learned, over time.
Good luck with your boat hunting.
My friend, I didn't mean to piss you off at all, I was really trying to give you some mature, age old advise. I was probably driving boats before you were even born. Financing/borrowing over ones head is what is wrong with this world as we speak. People that bought $800,000 homes on a $40,000/year salary is the reason America is in the shape that we are in now. As you asked, "mistakes made by others". My serious point is.... I hope you don't plan to buy a $80,000 boat and finance it for 15 years like I know people that actually have. Start thinking ahead and save, save, save. If you can really afford to buy that $80,000 boat, you shouldn't have a problem saving enough to "just write a check" in 3 to 5 years, IF you start now by thinking ahead. The big plus here, is all the interest you save and can apply that interest saved to future purchases. And, by doing this, you don't have to worry so much about those "credit scores".
Just trying to help a little with what I've learned, over time.
Good luck with your boat hunting.
I have been saving and running my older Center console. I decided that my pasion for boating cannot wait any longer. I want to enjoy life while im young enough. I have 25+k cash saved up and have everything else paid off with a good business to back up my debit. I had to sell my 25 checkmate to relocate to fl. 6 years ago and have been working my butt of to get where I am. READY!
My credit is good and I shouldnt have a problem. I am just a hands on type of person and paper work, loans and secretarial stuff stresses me out badly..
I will be setting aside some time this week to look into other loan options.
01-31-2011, 08:45 AM
#48
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I got my loan from a guy on OSO I think his screen name was "loan ranger" or something like that. Try a search. My boat was 7 yrs old at the time so there are loans out there.
As for high 80's, low 90's with a 500... good luck. I've hit 76 with my boat (500 EFI) and cruises nicely at 54. Keep us posted.
As for high 80's, low 90's with a 500... good luck. I've hit 76 with my boat (500 EFI) and cruises nicely at 54. Keep us posted.
01-31-2011, 08:49 AM
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Thanks, I plan to this week.
01-31-2011, 08:55 AM
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Back to the boat..
Is anyone familiar with the 30ss sonics?? They seem to run slower with the same power as many other 30 footers? I'm guessing more weigt or drag?? Would also mean more fuel use?? Should I steer clear of them??
How about the Eliminator 300 XP's. Built in the west and I have never even seen one in my travels. What your take one those?
Is anyone familiar with the 30ss sonics?? They seem to run slower with the same power as many other 30 footers? I'm guessing more weigt or drag?? Would also mean more fuel use?? Should I steer clear of them??
How about the Eliminator 300 XP's. Built in the west and I have never even seen one in my travels. What your take one those?
