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Re: The Best Way TO Finance A Used Boat? [Re: ring fry] #1789326 12/07/07 06:40 PM
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Dr. Chase Offline OP
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Originally Posted By: ring fry
Brazos, good luck on the 'new' boat. You can always tow the bass buster behind you with all your tackle. smile Hope to see you this spring!

SE Kansas grass grower


oh you will see me bro, im still fishing the tswtt!

Re: The Best Way TO Finance A Used Boat? [Re: Dr. Chase] #1789342 12/07/07 06:45 PM
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Donny. Offline
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$30,000
120 mos
6%
$333.14

$29,000
120 mos
6%
$322.04

$30,000
120 mos
7%
$348.42

$29000.00
120 mos
7%
$336.81

Wherever you go they will be able to give you this info.


Re: The Best Way TO Finance A Used Boat? [Re: ring fry] #1789359 12/07/07 06:49 PM
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‘04 Triton. TR-186 DC 150 Mercury, special addition $15k Please call 903-922-6313 or 903-922-6314 cell


Re: The Best Way TO Finance A Used Boat? [Re: Donny.] #1789374 12/07/07 06:58 PM
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SkeeterRonnie Online Happy
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hey Donny.. sounds like a deal for SnakeEyes.. hes like those toons!

Re: The Best Way TO Finance A Used Boat? [Re: SkeeterRonnie] #1789672 12/07/07 08:38 PM
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WISH'NIWASFISH'N Offline
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How much is your truck worth? Use it for collateral,if its worth enough. Rates are lower on auto's vs boats, easier to get a loan on an auto also.

Re: The Best Way TO Finance A Used Boat? [Re: BassSAT] #1789686 12/07/07 08:42 PM
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Domn8tor~202 Offline
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a friend used capitol one..... he said they gave him a blank check for X amount of dollars to go find a boat. it was made for buying from a dealer not a driveway sale. but he was happy and interest was like 7.5 better than most a "luxury" item. I dont know alot I am only repeating what I ahve heard. I know when i went to boat shops to look at used boats they all seemed to know alot of loan people who could help me.





Disclaimer:
I have no affiliation with anything or anyone on this board. I spend my free time here openly exchanging information and opinions based on the topics I or others choose to discuss.
Re: The Best Way TO Finance A Used Boat? [Re: Domn8tor~202] #1789711 12/07/07 08:48 PM
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Terry M Offline
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Glad to see Charger on the top of the list. wink This place has some really good prices on the model 496 Charger's


Last edited by Terry M; 12/07/07 08:48 PM.
Re: The Best Way TO Finance A Used Boat? [Re: ring fry] #1790367 12/08/07 02:26 AM
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meP2too Offline
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If you have good credit, go to your bank and take out a personal loan, or a line of credit. Pay back more than the minimum.

Better yet, use the one payment plan. That is save until you can pay cash. That is the cheapest in the long run.


By the way there is a nice 04 Ranger for sale at Rockwall Marine, $16,500.00. I cannot believe that Ranger was not on your list.

Re: The Best Way TO Finance A Used Boat? [Re: Dr. Chase] #1790569 12/08/07 10:06 AM
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Ken A. Offline
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Originally Posted By: Brazos B
Originally Posted By: Donny Walters
how much $$$ are you looking at spending?


if i found a sweet deal on a used one 6k or under then i could do 6k cash. i would rather use that 6k to pay off my pick up and just finance either a brand new boat or 2000 and up model being that i will no longer have a truck payment. to answer your question, the monthly payments are what i am most concerned with, and i could swing about 400 a month but would prefer lower. i would be afraid to finance anything more than 32K. i am not too worried about the long note being that i could always sell it and pay it off and start over again. this will be my first real boat and i want it to be 100% reliable and prefer a warranty and such. i would also like to be able to outrun some of you guys to the weigh in! lol


Brazos,

I don't want to burst your bubble but it is apparent that you haven't purchased too many new boats. If you think you "could always sell it and pay it off," you may be dissappointed. You might want to figure in that whatever brand new boat you buy will depreciate 25% the moment you drive off the lot with it. hammer

If you spend $32K on a new rig and finance it for 120 months with no money down like some folks and you get ready to upgrade to a bigger faster rig in 2-3 years, you will find that you will most likely be upside down by $5-10K. eeks

I have seen this time & time again. If you cannot put at least 20% down at the beginning, you will be upside down for the first 8 years of a 120 month lien and I don't care how low the interest rate is! frown

Been there done that!

Your best bet is to find a one or 2 year old boat that is still under warranty and buy it for 25-35% off the original price and let the original owner take the depreciation hit. thumb

Ken wink


p.s. Sartin Marine at Lake Fork has a nice used Charger. The man that owned it traded it in on a new Bullet because after he rode in it he discovered it rode better than his Charger.

Last edited by Ken A.; 12/09/07 04:06 PM.


Re: The Best Way TO Finance A Used Boat? [Re: Dr. Chase] #1790993 12/08/07 05:55 PM
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Originally Posted By: Brazos B
I am looking to purchase my first actual bass boat this month. I have been fishing out of backseats and out of my bass buster all this time and I am ready to take the plunge. I am unsure if I want to purchase a new or used boat, either way I know I will be making payments. My credit is good, and I am wondering the best way to finance this thing. If I go new, then I can finance through the dealer, but if I find a late model rig being sold by the owner that fits my preference then I would also go that route. My preferred set up would be little to no money down and a long note. I bank with Washington Mutual and have done so for the past 10 years, but from what I see on their website they only loan for homes. What bank or financial institutions do you guys use or know of to finance a used boat? In case you’re wondering, I am looking for the following boats (in this order of preference!)
1.) Charger
2.) Bass Cat
3.) Champion
4.) Gambler
5.) Cobra
6.) Hydra Sports
7.) Legend
Any advise from you seasoned buyers is greatly appreciated.


Call Jeff Scott @ Fun-N-Sun in Hurst 817-280-0303 and he will hook you up BrazosB thumb http://www.funnsunboats.com/funnsun/




Dan Gleason
817-683-8652




Re: The Best Way TO Finance A Used Boat? [Re: udamdan] #1791008 12/08/07 06:14 PM
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Fishing Frank Offline
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Ken A is exactly right. You can try North texas marine or fun and sun They are both good to work with.
If you are interested in a triton I have a 2003 tr-21 225 opti. in excellent condition. I would like to upgrade.

Re: The Best Way TO Finance A Used Boat? [Re: ring fry] #1791062 12/08/07 07:22 PM
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New or used boat, Well do a little home work. Here are some pointers. First Decide on how much money you want to spend on the boat that fits you needs. Then go to dealer and look at the prices of the brand new boats. If you don't windup in the emergency room, Take the same boat and run the Nada on it a year old and look at the difference. If that doesn't make up your mind, Try and locate a prostaffer, A lot of times you can get a boat that is 6 mths. old That has not been title with full waranty and a reasonalbe dicount. Most banks will lend you most of the money on a same year model rig.

Re: The Best Way TO Finance A Used Boat? [Re: pselkhunter] #1792073 12/09/07 01:58 PM
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One thing to remember about a long term note. You won't build up much equity for another purchase. It may lower your payments, but it won't cut into the principle much. Lot of times guys will end up upside down on the note. Can't get what they owe for it. Try to start out with what you can afford with a note no longer than 60 months, build some equity and upgrade as your salary goes up. Too many horror stories on upside down loans on 120 months.

Re: The Best Way TO Finance A Used Boat? [Re: WISH'NIWASFISH'N] #1795086 12/10/07 04:39 PM
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Dr. Chase Offline OP
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thank you for all the posts and pms. i am still shopping for my boat so if you are selling one then guive me a holler. i am interested in other brsnds/models then what has been mentioned if the deal is right. too bad the nuclear banana isnt still around smile

Re: The Best Way TO Finance A Used Boat? [Re: Dr. Chase] #1796273 12/10/07 11:15 PM
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PM sent.

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