Main Menu
Advertisement
Affiliates
Advertisement
Newest Members
Pres2014, springbass, TV308, jchapman, Ike_WSO
104460 Registered Users
Top Posters
TexDawg 84505
hopalong 76607
Pilothawk 74367
JDavis7873® 67382
John175 ® 62511
FattyMcButterpants 60659
Tritonman 57369
Derek 57340
SkeeterRonnie 52794
LoneStarSon® 52660
facebook
Forum Stats
104460 Members
60 Forums
787184 Topics
9951737 Posts

Max Online: 36273 @ 01/23/13 02:34 PM
Topic Options
#11617701 - 05/22/16 08:20 AM Down payment question
ETX_Chad Offline
Outdoorsman

Registered: 09/11/13
Posts: 137
Loc: Garland, TX
I'm looking at buying my first boat and not sure how much I have to put down... Most sites say it depends on the boat value but then don't give examples.

The boat I want is a roughly $60K Center Console (New). Would I be good just putting 10% down?

Top
#11617708 - 05/22/16 08:25 AM Re: Down payment question [Re: ETX_Chad]
Lee in Texas Offline
TFF Celebrity

Registered: 03/23/13
Posts: 8990
Loc: Wise County Texas
Sure but, it is what ever you can 'comfortably afford'. Most, myself included, don't want a boat payment at all or, for as short a time as you again, can afford.
But, if your budget it 'tight'....then long time financing is great but, will cost you interest money.
Really up to you.....but to answer your question: Yes, 10% should be fine
JMO

God Bless
_________________________
http://www.finfeatherresort.com/index.asp - Best Folks on Toledo Bend !!!
http://www.markpacklakefork.com/ - Great Source!!
http://bassclubofthewest.angelfire.com/ -West Ft Worth Bass Club
http://www.gleasonfishing.com/ Darold Gleason
2004 Stratos Complete Restoration 2014!!! With Much Gratitude to:
Cal's Marine/Azle,Texas (817)300-2827

Top
#11617765 - 05/22/16 08:50 AM Re: Down payment question [Re: ETX_Chad]
ETX_Chad Offline
Outdoorsman

Registered: 09/11/13
Posts: 137
Loc: Garland, TX
Thanks Lee and I completely agree with you. The payments aren't an issue. The only reason I don't want to put a lot down is that last year the house flooded and we had to replace all hard wood floors, water heater, paint, etc and went through a huge chunk of savings and have been paying $1200 a month on our remodeling loan to make sure we pay it off before the zero interest period runs out. $6k is just what is be comfortable with right now to still leave our rebuilt savings in tact.

Top
#11619514 - 05/23/16 07:22 AM Re: Down payment question [Re: ETX_Chad]
reclending.com Offline
Angler

Registered: 10/29/10
Posts: 318
Having a good down payment is always a good idea. SOME lenders have different rates based on the percentage of equity in the loan. If they have lower risk SOMETIMES the rate gets adjusted. Having 10% is normally a good place to start.
Ken
_________________________

Top



© 1998-2017 OUTDOOR SITES NETWORK all rights reserved USA and Worldwide