Help With Financing!!!
#21
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Join Date: Jun 2011
Location: Thousand Islands area
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If you go 20 years and your rate is say 5% which I think is probably better than you will see but you will pay 329 a month you will almost pay 30,000 in interest in that boat. Does that make sense??? If your going to do this at least do a ten year you will only pay 13 in interest and your payment will still be low 500's.
Your best bet is to save up 10-20k and take a 7 year loan out max. You go the route you are thinking you will be upside down on that boat forever.