financing a new boat

[cbear34]

Re: financing a new boat

There is no single plan that works for everyone. Just make sure you have a plan.

That is the idea.
Most of the problem with the average person is they "want it now have it now". That is why so many Americans have credit card debt and homes have foreclosed. I don't have and never have carried credit card debt. Last year we bought a used Grand Caravan with a home equity loan, low interest rate and tax deductible interest. If you have a plan for the payments that won't get you upside down on your loan then that is what is right for you. people don't think long term in the future to cover themselves.

Just make sure you have a plan!

 

[nightstalker]

Re: financing a new boat

If you can afford it, a new rig is great. But in this depressed boating market, you can buy used for cheap. It used to be that the only used vessels you found on the market were at least 4 or 5 years old. With all the defaulting on loans going on, the market has many newer models out there for an excellent price. Sellers are learning very quickly that what they think their rig is worth and what they can actually get for it are miles apart. The cost of fuel alone is driving the market way down. Dealers will tell you that they are doing fine, but that's a load of bull!!!!!!!!!!!!!!!!!!!! Even when you consider the added interest for a pre-owned rig, you save a bundle if you can find something close to what you are looking for 2 or 3 yeras old.
Nightstalker

 

[yourkiddin]

Re: financing a new boat

I had been out looking at used pontoons for some time. Was actually almost ready to decide on one,my company all the sudden said they were going to make some schedule changes. So im going to hold off. Anyway I took my old boat out and had a great time.

 

[Geo2008]

Re: financing a new boat

Never finance toys.
Period.

You have one seriously funny lookin avatar but you are very correct about financing toys, I just saved up the dough and paid one payment at 0%.

 

[BigB9000]

Re: financing a new boat

As a budget boater myself, I have to lean towards the cash method:


$200:

and $400 later, it has seats, and engine, and NEW controlls.

$600 + $30 last friday for registration (damn back fees!)

I think I got a good deal on my frist real boat.


also... free boats are easy to find.

sence i have been working on this thing, neighbors and friends of friends have just been giving me there old boat. almost begging for me to take it