Hard to finance bayliner?

[ocb_dave_ocb]

Re: Hard to finance bayliner?

The thing is skillz do what YOU want to, don't pay attention to anyone else, everyone says buy a house, blah blah blah... If you arent ready to buy a home don't buy one.. Everyone also says SAVE. SAVE. SAVE. Well I tell you what my Grandfather - in - law that is exactly what he did, He lived in a normal home, not the best not the worst, He drove a regular vehicle.. BUT he and his wife NEVER had anything, all they had was money in the bank.. So you know their life could have been MUCH better.. When they both died a couple of years ago all of their kids got the money so the 6 of them split 20k each plus another 15k each after they sold there house...

SO what is better, save and save and have nothing OR enjoy your life...

I make 35k a year and so does my wife... We have a 8 month old daughter, My home appraised at 209k last year when we built it, in 06 it cost us 166k.. Well we now have a 07 Ridgeline, 02 Rio, 07 Recon, Boat, Hot Tub, Pool Table, Ping pong table, tanning bed..

Well with all of that stuff we only have around $600 a month for groceries, and gas but you know what we make it JUST FINE.. I would rather enjoy my ONE life as to save and have nothing..

 

[dcg9381]

Re: Hard to finance bayliner?

My first house didn't appreciate much in the 4 years I lived there and I put a new furnace and windows in it. A boat would have been a better investment :{ Good luck with your search.

I'd say that buying a new boat and taking a $4000 loss (assuming your boat is worth around $13000) are going to be about the same...

I agree with the above - buy a NEW boat if you're in a position to afford it. It will, with all certainty, depreciate FAST. Much faster than a car. If you need to get rid of it, you'll have a very hard time.

Spend your $3-$4k on a good used floater.. OR save up a little more.
At $13k the used market turns up a lot of NICE used boats, with money down most credit unions will finance you. Then consider you can buy many of them at loan value - buy a used one, in good shape, priced right - you'll risk a lot less.

 

[BamaAlum97]

Re: Hard to finance bayliner?

I believe the original question and point to this thread is "Is it difficult to get financing on a boat?" The answer is NO...especially, a $13K boat with $3K down. Most banks will finance you on that deal unless you just have horrible credit. It will be a secured loan, and an amount that is less than the average car loan.

 

[mickjetblue]

Re: Hard to finance bayliner?

We all set our own priorities. Problem is that today's priorities
may not be priorities at all come tomorrow.

I know folks who bought expensive boats, on credit, and who
didn't have homes. Now they are trying to sell their boats so
that they might be able to buy a house. Think about it...

 

[dcg9381]

Re: Hard to finance bayliner?

I know folks who bought expensive boats, on credit, and who
didn't have homes. Now they are trying to sell their boats so
that they might be able to buy a house. Think about it...

You're right, we do all set our own priorities. If you want a new boat, you'll get one.

The point of my post is that if you finance a new boat with minimum down (which can be done) - depending on down payment and terms, you're very likely to owe more than it's worth after a year... If you're OK with that, then it's not a problem. Same holds true for new cars, so it's not a new concept.

When you go to finance one, my advice is to check with your local credit union for rates also.