New boat

[thurps]

Today I'm going shopping for a new boat. I'm looking for one that I can't possibly afford but I hear I can get an interest only loan for ten years. The best part is at the end of the ten years, if I still can't afford it, they will just wright it off or put me into a boat that I can afford.
Life is good.

 

[Pascal]

Re: New boat

sub prime mortgage on a boat..........?

 

[JB]

Re: New boat

This smells of politics.

 

[tashasdaddy]

Re: New boat

hate to tell you, they ain't gonna write it off. that principal is still due at the end of 10 years. you buy a $20,000 boat, interest only for 10 years, at the end of ten years, you still owe $20,000, plus a years interest.