Main Menu
Forum
Guidelines/Rules
Photo Contest
TFF Store
Guides/Destinations
Contact/Advertising
Texas Hunting Forum
Louisiana Fishing Forum
Georgia Fishing Forum
Florida Fishing Forum
Advertisement
Affiliates
J.P. Greeson's Weekly Fishing Report
Larry Bozka's Coastal Anglers
Big Billy Kinder Outdoors
Texas Fishing & Outdoors Show
Honey Hole All Outdoors Television
Get A Limit Outdoors
Barry Stokes’ Southwest Outdoors Report
Advertisement
Newest Members
jp9102, lusktommy, tsweeden, Mikey64, RGAshley
91664 Registered Users
Top Posters
TexDawg 72330
JDavis7873® 66708
Pilothawk 63278
FattyMcButterpants 59033
hopalong 58368
Manchu 52779
SkeeterRonnie 50688
John175 ® 50586
David Lee 50566
Tritonman 49717
facebook
Forum Stats
91664 Members
58 Forums
723820 Topics
9466659 Posts

Max Online: 36273 @ 01/23/13 02:34 PM
Page 2 of 2 < 1 2
Topic Options
#1789326 - 12/07/07 12:40 PM Re: The Best Way TO Finance A Used Boat? [Re: ring fry]
Brazos Bass Cat Online   content
TFF Team Angler

Registered: 04/17/06
Posts: 3486
Loc: Benbrook/Granbury/Whitney/Stil...
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!
_________________________

Team Pro-Cull

Top
#1789342 - 12/07/07 12:45 PM Re: The Best Way TO Finance A Used Boat? [Re: Brazos Bass Cat]
Donny. Offline
TFF Celebrity

Registered: 11/12/05
Posts: 9715
Loc: PALESTINE, TEXAS
$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.
_________________________

Top
#1789359 - 12/07/07 12:49 PM Re: The Best Way TO Finance A Used Boat? [Re: ring fry]
Donny. Offline
TFF Celebrity

Registered: 11/12/05
Posts: 9715
Loc: PALESTINE, TEXAS
‘04 Triton. TR-186 DC 150 Mercury, special addition $15k Please call 903-922-6313 or 903-922-6314 cell
_________________________

Top
#1789374 - 12/07/07 12:58 PM Re: The Best Way TO Finance A Used Boat? [Re: Donny.]
SkeeterRonnie Offline
Pot stirrer

Registered: 02/25/03
Posts: 50688
Loc: Rowlett, TX
hey Donny.. sounds like a deal for SnakeEyes.. hes like those toons!
_________________________

Top
#1789672 - 12/07/07 02:38 PM Re: The Best Way TO Finance A Used Boat? [Re: SkeeterRonnie]
WISH'NIWASFISH'N Offline
Outdoorsman

Registered: 08/08/07
Posts: 33
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.

Top
#1789686 - 12/07/07 02:42 PM Re: The Best Way TO Finance A Used Boat? [Re: BassSAT]
Domn8tor~202 Offline
Pro Angler

Registered: 08/22/07
Posts: 674
Loc: Conroe - Houston - Spring
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.

Top
#1789711 - 12/07/07 02:48 PM Re: The Best Way TO Finance A Used Boat? [Re: Domn8tor~202]
Terry M Online   content
Pro Angler

Registered: 05/16/07
Posts: 639
Loc: Flower Mound, TX
Glad to see Charger on the top of the list. wink This place has some really good prices on the model 496 Charger's



Edited by Terry M (12/07/07 02:48 PM)

Top
#1790367 - 12/07/07 08:26 PM Re: The Best Way TO Finance A Used Boat? [Re: ring fry]
meP2too Offline
Extreme Angler

Registered: 12/07/03
Posts: 2402
Loc: dallas,tx,usa
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.

Top
#1790569 - 12/08/07 04:06 AM Re: The Best Way TO Finance A Used Boat? [Re: Brazos Bass Cat]
Ken A. Online   content
TFF Celebrity

Registered: 10/02/06
Posts: 5698
Loc: Trophy Club, TX
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.


Edited by Ken A. (12/09/07 10:06 AM)
_________________________
...a legend in his own mind...





Top
#1790993 - 12/08/07 11:55 AM Re: The Best Way TO Finance A Used Boat? [Re: Brazos Bass Cat]
udamdan Offline
TFF Celebrity

Registered: 12/02/02
Posts: 7967
Loc: Dallas & Young counties
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





Top
#1791008 - 12/08/07 12:14 PM Re: The Best Way TO Finance A Used Boat? [Re: udamdan]
Fishing Frank Online   content
Angler

Registered: 06/30/04
Posts: 447
Loc: Fort Worth
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.
_________________________
http://bcfw.org

Top
#1791062 - 12/08/07 01:22 PM Re: The Best Way TO Finance A Used Boat? [Re: ring fry]
pselkhunter Offline
Outdoorsman

Registered: 01/02/06
Posts: 47
Loc: Victoria, Tx
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.

Top
#1792073 - 12/09/07 07:58 AM Re: The Best Way TO Finance A Used Boat? [Re: pselkhunter]
Big Red 12 Offline
TFF Guru

Registered: 04/21/05
Posts: 44680
Loc: Crandall, TX
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.
_________________________
www.SteveHodge.org
www.EasyViewTackle.com

Top
#1795086 - 12/10/07 10:39 AM Re: The Best Way TO Finance A Used Boat? [Re: WISH'NIWASFISH'N]
Brazos Bass Cat Online   content
TFF Team Angler

Registered: 04/17/06
Posts: 3486
Loc: Benbrook/Granbury/Whitney/Stil...
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
_________________________

Team Pro-Cull

Top
#1796273 - 12/10/07 05:15 PM Re: The Best Way TO Finance A Used Boat? [Re: Brazos Bass Cat]
Big Red 12 Offline
TFF Guru

Registered: 04/21/05
Posts: 44680
Loc: Crandall, TX
PM sent.
_________________________
www.SteveHodge.org
www.EasyViewTackle.com

Top
Page 2 of 2 < 1 2



© 1998-2014 OUTDOOR SITES NETWORK all rights reserved USA and Worldwide