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Boat financing

Old 01-25-2010, 12:52 PM
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Default 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.
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Old 01-25-2010, 12:58 PM
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This should give you an idea;

https://www.suntrust.com/portal/serv...rms_marine/547
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Old 01-25-2010, 01:15 PM
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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.
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Old 01-25-2010, 01:29 PM
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Originally Posted by KismetLRC View Post
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.
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Old 01-25-2010, 01:56 PM
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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....
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Old 01-25-2010, 03:45 PM
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Originally Posted by rat_catcher View Post
Thanks...rates aren't too bad!
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Old 01-25-2010, 03:48 PM
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Originally Posted by KismetLRC View Post
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.
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Old 01-25-2010, 04:08 PM
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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.
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Old 01-25-2010, 04:15 PM
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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.
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Old 01-25-2010, 04:17 PM
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Thanks! I could have saved a lot of money on my MBA if I just came here first.
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Old 01-25-2010, 04:35 PM
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Originally Posted by Nicmegmatt View Post
Thanks! I could have saved a lot of money on my MBA if I just came here first.
Everyone here is a rocket scientist and full of expert advice!
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Old 01-25-2010, 07:52 PM
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Originally Posted by KismetLRC View Post
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.
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Old 01-25-2010, 08:05 PM
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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.
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Old 01-25-2010, 08:45 PM
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Originally Posted by gf View Post
Well, except for you. You've been here 6 days and haven't demonstrated any expertise just yet, but we'll give you time.
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.
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