boat loans

[times two]

Looking at moving up slightly in length, and 13 years in age....

so consequently a loan is in my future.

WHo have you used?

John

[Billy V]

John,

I used my local credit union and got a far better rate than any of the banks I talked to.

Care to tell us what you have your eye on???

[times two]

Hey Bill. My CU has some limitations, and there rate was actually

higher that what I have seen in limited searches on the net so far.

I was really leaning towards doing something next year, but you know

how it goes...once you start looking you get the bug.

I'm only looking at moving up slightly in part because I still like to

roam between LO and LE. Targeting a 23 Seaswirl, with the hardtop.

One o/b in Ohio that I think I missed and now an i/o. Little more

cockpit room, larger cabin and it will let me take a group of 4 which

I can't comfortably do now.

Hoping to look at the i/o in the next few days....then there is the matter

of selling my current boat....

[rustyrat]

I am looking too and I have found that my bank will only fund 80 - 85% the book price unless its rigged. Something to keep in mind. I put offers on 2 and lost out because I can only go so far over book. But then again I don't want to pay 3 to 5 grand over book either, which is what I'm running into. I don't want to take a bath if I decide I don't like the boat cause I'm only going to get book price or less when I sell it.

I put an offer on a 21 ft sportcraft 1988, books for 3200, I offered 4300 causes it had 2 mag 10's and a good trailer. The guys said 6500! I said no thanks. So thats what I'm running into. I may just put a new floor and new canvas on mine and run it 1 more year.

RR

[Yankee Troller]

When I purchased my Bass Boat out of state thier banks actually killed the local banks interest rate. Prior I had a internet boat loan company that was going to finance it, but they required more paperwork than a bank. In the end a bank in Tennessee beat that rate. I have a feeling that this might be a private owner which will kill this idea, but I figured I would throw it out there anyway.

[rustyrat]

YT,

Yep its the private owner issue for pricing as far as my CU and bank are concerned. I'm getting a great rate but just can't get people to realize that their boats aren't worth what they are asking. When I go to get rid of mine I'll be basically giving it away. The trailer will be worth more than my asking price for the whole boat! AND you won't have to go to the bank for a loan! lol

Just have to keep on looking. But I do have weight issues for my lift, I can't go over 4000 lbs unless I want to shell out another 6 grand for a new lift! So that kind of limits me to 22 to 24 ft aluminum. (Which is what I want anyway)

RR

[Penn yan 88]

I just recently upgraded my boat and used five star bank. They do up to 100% financing and the process was easy with very little documentation.

[ray koziatek]

buying my 22ft 20yr old boat was no problem but that $10,000.00 loan for tackle has been eating at my gas money..........

[InTheBox]

I also went though a local CU. Got a great rate. They didnt really give me a hard time about the price. But i got a really good deal on the boat to.

My CU added the value of the trailer and the boat. They didnt even ask about any equipment.

Pat

P.S.

Dont forget you have to carry full insurance if you gat a loan. If you dont have it know Just a heads up.

[times two]

Thanks In the Box (and others)....already carry pretty heavy

insurance due to the charters...

John