The Hull Truth - Boating and Fishing Forum

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-   -   Boat financing (https://www.thehulltruth.com/dockside-chat/263265-boat-financing.html)

Nicmegmatt 01-25-2010 12:52 PM

Boat financing
 
What are the going rates/terms for boat loans these days? I have not financed a boat before and I dont have boat in mind right now...just curious what going rates are. I should have excellent credit.

rat_catcher 01-25-2010 12:58 PM

This should give you an idea;

https://www.suntrust.com/portal/serv...rms_marine/547

KismetLRC 01-25-2010 01:15 PM

Borrowing money for a boat is a bad financial move....
It's one thing to buy a depreciating "asset" for your personal enjoyment, it's quite another to "borrow" money to buy a depreciating asset....

Obviously, it's "done" all the time.....it's just not financially prudent.

904polarized 01-25-2010 01:29 PM


Originally Posted by KismetLRC (Post 2744521)
Borrowing money for a boat is a bad financial move....
It's one thing to buy a depreciating "asset" for your personal enjoyment, it's quite another to "borrow" money to buy a depreciating asset....

Obviously, it's "done" all the time.....it's just not financially prudent.



So........ How does this help the OP? I believe he is asking for interest rates.

KismetLRC 01-25-2010 01:56 PM

You're right....my post helped about as much as yours. My bad. Sorry OP.

I've heard good things about Scott's and their rates appear competitive.

http://www.scottboatloan.com/currentrates.html

BofA rates are HIGH these days....

Nicmegmatt 01-25-2010 03:45 PM


Originally Posted by rat_catcher (Post 2744488)

Thanks...rates aren't too bad!

Nicmegmatt 01-25-2010 03:48 PM


Originally Posted by KismetLRC (Post 2744521)
Borrowing money for a boat is a bad financial move....
It's one thing to buy a depreciating "asset" for your personal enjoyment, it's quite another to "borrow" money to buy a depreciating asset....

Obviously, it's "done" all the time.....it's just not financially prudent.

Thanks for the reply and you are correct, unless you are earning more on your money.

35donzi 01-25-2010 04:08 PM

Boats ARE NOT financially prudent whether you buy cash or take out a loan. If you can afford the loan payments, expenses to go along with it, finance or buy doesn't matter.

LuckyLaRue 01-25-2010 04:15 PM

If I had waited until I could afford to pay cash for a boat, I would have missed out on many, many years of fun on the water. :grin:

Nicmegmatt 01-25-2010 04:17 PM

Thanks! I could have saved a lot of money on my MBA if I just came here first.:grin:

KismetLRC 01-25-2010 04:35 PM


Originally Posted by Nicmegmatt (Post 2744982)
Thanks! I could have saved a lot of money on my MBA if I just came here first.:grin:

Everyone here is a rocket scientist and full of expert advice!;)

gf 01-25-2010 07:52 PM


Originally Posted by KismetLRC (Post 2745050)
Everyone here is a rocket scientist and full of expert advice!


Well, except for you. You've been here 6 days and haven't demonstrated any expertise just yet, but we'll give you time. :grin:

JAGSARE1 01-25-2010 08:05 PM

I have a friend in the biz. He owns it so he is hungry! If you are interested in at least talking to him, send me a private message and I will forward his contact info. Can't hurt to talk, he is a straight shooter.

KismetLRC 01-25-2010 08:45 PM


Originally Posted by gf (Post 2745536)
Well, except for you. You've been here 6 days and haven't demonstrated any expertise just yet, but we'll give you time. :grin:

I'm sure after 5,600 posts I'll know my way around here just like you. Just trying to figure who my inspirations are right now. ;cool;


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