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Originally Posted by laszlo01
(Post 2831763)
I just bought my new boat as well, and I had the same run around from the big lenders since the boat i bought was a bank owned boat, so I got sick of there BS and went to my credit union whom I have done business with for many years and had it approved in under 30 minutes, great rates and much better to deal with. Go to a local lender and stay away from the B.S.
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Originally Posted by Baja_man
(Post 2831909)
I agree, but it seems everything is case by case for some reason. If you "show" and truely are low risk, lending is normal.
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If you are self employeed I would recomend using your regular lender you do business with, relationship is everything these days.
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Originally Posted by laszlo01
(Post 2832234)
If you are self employeed I would recomend using your regular lender you do business with, relationship is everything these days.
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Originally Posted by rlj676
(Post 2829745)
Appearantly everyone.....we should all only pay cash, because some random internet guy told us its the "best" way:rolleyes:.
I know of a local bank that has worked with a few of my friends and the loan was hard to get but they got them. If you want the info send me a pm. |
Originally Posted by laszlo01
(Post 2832234)
If you are self employeed I would recomend using your regular lender you do business with, relationship is everything these days.
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Originally Posted by CLA
(Post 2832447)
Just seems like a small amount of money to finance for 15 years. I'm a business owner also and know the benefits but it's also a "toy". To me "toy" means cash.
I know of a local bank that has worked with a few of my friends and the loan was hard to get but they got them. If you want the info send me a pm. For someone like me, I'd love to pay cash, but have only been working for 3 years, and have a pretty damn good salary, but not a pile of cash for obvious reasons. Maybe if I hadn't bought a house it'd be an option, but it definitely isn't now, and I value the boat enough now to pay the interest. How many people look back and say, "man I hated having that boat when I was 28 and single, it would have been a lot cooler to have 10 years later and paid cash". |
Originally Posted by rlj676
(Post 2832475)
If you buy right and with the right amount down you won't be upside down, so if you don't have the cash it isn't too harmful, considering the whole proposition is a waste of money. Arguing what the "right" way to spend money on a boat is kind of pointless.
For someone like me, I'd love to pay cash, but have only been working for 3 years, and have a pretty damn good salary, but not a pile of cash for obvious reasons. Maybe if I hadn't bought a house it'd be an option, but it definitely isn't now, and I value the boat enough now to pay the interest. How many people look back and say, "man I hated having that boat when I was 28 and single, it would have been a lot cooler to have 10 years later and paid cash". I hear ya man. I'm only 27 years old and paying this cat insurance sucks. I bought my first boat at 22 (19 Liberator with a 2.5 Merc) and had a loan. Looks like you got stuff figured out.......Just throwing my 2cents in. |
Originally Posted by CLA
(Post 2832596)
I hear ya man. I'm only 27 years old and paying this cat insurance sucks. I bought my first boat at 22 (19 Liberator with a 2.5 Merc) and had a loan.
Looks like you got stuff figured out.......Just throwing my 2cents in. |
Originally Posted by rlj676
(Post 2833389)
Haha, you're lucky you could even get cat insurance. I'd like to have that option, but am too young and don't have the cat insurance. I'm not sure how you get that experience to get the insurance to get the experience.
You pretty much have to start out with a single engine cat capable of less than 85mph and work your way up. |
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