I agree......If the guy that signed the papers and makes the payment is happy at the end of the day.....screw what the rest of us think. If you want to make the payments for him, then you get to second guess his decision!

right , he doesn't have to keep it ,but WILL he be able to sell it...

i also say congrats on your new boat , it has to be a real nice feeling getting a "brand new" boat !!!




just like cars ,love that new car smell:D :D

or boat in this case:D

122k for 20 [email protected]=611.42
122k for 20 [email protected]=938.55

I think its a good way to get into a new boat for not a huge payment. And the good thing is more is going to the principle.

If he starts payments say may 1st 2007, he will be here 3 years from now may 1st 2010.

[email protected]=$102,268.03
[email protected]=$108,147.21

He will owe 5,879.18 less than traditional rates. I hear what you guys are saying about them inflating the price up on the boat though. But it doesnt mean the dealer wont discount its usual off the MSRP. I say congrats on the boat and the loan!

I am not sure what the rebate is in lieu of the finance incentive but if it is $12,000 that would then make your payment (using the above figures) $846.24 financing $110,000 instead of $122,000. With that monthly savings of $234.82 it would take 52 months before you broke even and fully earned the value of the cash rebate in finance savings. With the average boat loan only being on the books for 39 months, taking the discounted rate instead of the cash up front is leaving money on the table for the majority of buyers.

Ditto to what he said......then again Kyle and I are only in the boat finance business so we really don't know what we're talking about :p

I just met with the Formula owner and his finance person at the Miami Boat Show. They are in the business to make money but I'll tell you they intend to keep you as a customer by giving you a good value. They include a lot of extras in their cost like an extended warranty and less options(standards to them.) They have tried to design finance programs that will allow there customers to move up in size without being upside down when they trade. I'll tell you that this costs the company real money to offer these programs. They offer a choice of finance rate or cash to allow customers to choose what helps them the most.

Yeah!! and you guys are on the bank side of it not the consumer side!!:drink: where intrest is your forte:p

Doesnt have anything to do with what side there on...look at it this way. If you use the rebate instead of the special rate...your borrowing $12k less and immediately you have $12K more equity. I have and will always choose a higher rate over a higher price...rate is just an ugly number and if you pay a lil extra every month that number is irrelevant. BUT IF YOU PAY MORE FOR THE ITEM (HARD COST) reguardless of how much you pay xtra your principal is always going to be more..

Bernie - he doesn't get it :rolleyes:

I have made 1000's of loans and everyone of them has gotten a very fair rate. :D :D

Bottom line is that is an incredible rate on a very nice boat. Enjoy!