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-   -   Boat Loan (https://www.offshoreonly.com/forums/general-boating-discussion/282545-boat-loan.html)

low_psi 08-10-2012 07:07 PM

There are very little to none bank lenders that will give a $10k loan on a boat that old....

powerqrudy 08-12-2012 01:33 PM

Yea Griff, I can take it out of my savings but would rather not..

Thanks for the input.

Steve

Griff 08-13-2012 01:07 AM

Lots of banks offer personal lines of credit with variable interest rates. They are like a Heloc without putting up your house as collateral. The interest rate will probably be around 10%. You just have to pay the interest each month and then pay whatever you want toward the principal.

altamate 08-13-2012 02:32 AM

Why would anyone want to pay 10% interest. It may only be on $10,000, but still that's way to high.

powerqrudy 08-13-2012 05:19 AM

What i was thinking was to get a loan for it and use the quarters from my machines to pay it weekly.

My weekly drop off would go into a account then the loan gets taken out on a monthly basis.

Have a good Monday guys!

Steve


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