Like Tree0Likes

Boat Financing

Reply
Old 09-10-2004, 08:47 PM
  #31
Registered
 
Join Date: May 2001
Location: Minneapolis, Minnesota
My Boats: You can't boat on an ICE FLOW
Posts: 1,129
Default Re: Boat Financing

Quote:
Originally Posted by Von Bongo
Todays rates are:

40-74,999 5.79% for 180 mo
75-99,999 5.25% for 180 mo
100-199,999 5.25 for 240 mo
and above 200K 4.99 for 240 mo.

Mike Alford
Central Bank
1-877-456-3114
[email protected]
Is it not interesting that the more money they loan you, the lower the rate gets
h2owarrior is offline  
Reply With Quote
Old 09-10-2004, 09:44 PM
  #32
Registered
 
Von Bongo's Avatar
 
Join Date: Dec 2001
Location: Iowa - Missouri
My Boats: 1997 Cig Kevlar - powered by Boyd
Posts: 3,904
Default Re: Boat Financing

Costs just as much time and effort to make a loan, service it , follow up for insurance, post payments, send tax statements and so on for a $10,000 loan as it does for a loan of $100,000.

Look at it as a volume discount.
Von Bongo is offline  
Reply With Quote
Old 09-10-2004, 09:52 PM
  #33
Registered
 
Join Date: May 2001
Location: Minneapolis, Minnesota
My Boats: You can't boat on an ICE FLOW
Posts: 1,129
Default Re: Boat Financing

I like volume discounts
h2owarrior is offline  
Reply With Quote
Old 09-12-2004, 12:49 PM
  #34
Platinum Member
Platinum Member
Thread Starter
 
CigDaze's Avatar
 
Join Date: Jun 2001
Location: St. Petersburg, FL
My Boats: Cigarette 35 Cafe Racer
Posts: 21,346
Default Re: Boat Financing

Good Info!
I'll call you Monday, Jodi.
CigDaze is offline  
Reply With Quote
Old 09-12-2004, 09:49 PM
  #35
Registered
 
RJ1340's Avatar
 
Join Date: Sep 2002
Location: Chicago, IL
My Boats: 47 Fountain
Posts: 525
Default Re: Boat Financing

Here's a financing tip: Buy a boat for which you can pay cash or find a hobby you can afford without going into debt.
RJ1340 is offline  
Reply With Quote
Old 09-12-2004, 09:55 PM
  #36
VIP Member
Platinum Member
 
wwwTOPDJcom's Avatar
 
Join Date: Mar 2002
Location: Vestal/Binghamton NY
My Boats: 1992 450hp Senza Spectre 25'
Posts: 3,477
Default Re: Boat Financing

Quote:
Originally Posted by CAP071
Friday I just got 5.48% from Essex for 15 years 50K
what did you buy Cappy
wwwTOPDJcom is offline  
Reply With Quote
Old 09-13-2004, 12:35 AM
  #37
Trim it Up!
Platinum Member
 
kitten's Avatar
 
Join Date: Aug 2002
Location: F l o r i d a
My Boats: Skater! Sold!
Posts: 6,999
Default Re: Boat Financing

Quote:
Originally Posted by Baja Daze
So, who are the major players these days with the best rates?


Do a Home Equity Line at 4.25% and it's deductible!!!
kitten is offline  
Reply With Quote
Old 09-13-2004, 08:31 AM
  #38
Registered
 
Milord's Avatar
 
Join Date: Jul 2001
Location: Lake St. Clair, Canada
My Boats: 1986 Four Winns Liberator 241
Posts: 1,213
Default Re: Boat Financing

Can anyone finance a Canadian? Not a lot of lenders that I have spoken with over here that like to finance a boat longer than 7 years. That can make payments quite large!
Milord is offline  
Reply With Quote
Old 09-13-2004, 12:02 PM
  #39
Geronimo36
Gold Member
 
Panther's Avatar
 
Join Date: Sep 2002
Location: Elkton, MD
My Boats: 36' Apache Warrior / 22' Apache Scout
Posts: 11,838
Default Re: Boat Financing

Quote:
Originally Posted by kitten
Do a Home Equity Line at 4.25% and it's deductible!!!
I spoke to my tax guy about this. The boat loan intrest is also deductible as a second home. The boat need's to have a cooking surface, ie. range, microwave. It also needs to have a head.
Panther is offline  
Reply With Quote
Old 09-13-2004, 02:07 PM
  #40
Platinum Member
Platinum Member
Thread Starter
 
CigDaze's Avatar
 
Join Date: Jun 2001
Location: St. Petersburg, FL
My Boats: Cigarette 35 Cafe Racer
Posts: 21,346
Default Re: Boat Financing

Quote:
Originally Posted by kitten
Do a Home Equity Line at 4.25% and it's deductible!!!
Works for some, but I don't think I'd want my house and boat tied together financially.
CigDaze is offline  
Reply With Quote
Reply

Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
FRMULTR
General Boating Discussion
9
08-07-2007 03:58 PM
tripog
General Boating Discussion
19
05-09-2006 08:21 AM
NickOTeen
General Boating Discussion
0
10-22-2003 10:51 AM
Dusty Times
General Boating Discussion
5
09-22-2003 11:51 PM
BajaFresh
General Boating Discussion
11
07-23-2003 06:02 PM



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 08:32 AM.


Copyright 2011 OffShoreOnly. All rights reserved.