I agree, but it seems everything is case by case for some reason. If you "show" and truely are low risk, lending is normal.

Completely disagree, I am low risk, Great income, perfect credit, and low debt to income, have owned 6 High performance boats in the past, plus other toys and I am having a very hard time!!! Most High performance boat owner are self employed, and banks dont like that!!

If you are self employeed I would recomend using your regular lender you do business with, relationship is everything these days.

My regular lender of 9 years does not have the money to give on High Performance boats right now, I guess!!!! but they did give me a great 4.2% fixed mortgauge in Jan.!!!

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.

I agree.....atleast get them to help you find a loan.

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.

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.