I've got a 200 HPDI and it's a great engine.

You might check resource one credit union for a boat loan if you buy from a private person.thats who I used on my first rig.

Give Mike Kernan a call and he can help with the entire process. He does used boat financing but always has a boat or two for sale or knows where to find one. He's your best resource on this subject in Texas period and a great dude.

http://classicboatloans.com/

Buying from a dealer is the best way to go. Not all dealers jack up the price. I buy new boats each year and sell my old one through my dealer and he doesnt make anything off of my sell. If you are trading in then you save taxes by only paying sales tax on the difference in value, the dealer handles all of the registration and financing.
Dealers have multiple financing companies that they work with and can generally get you better rates and longer terms than local lenders.
My dealer list my boat for sale on his website, iboats.com and boattrader.com with all of his boats for no cost to me. Having a good selection of used boats brings more people into his shop and the fact that I buy new every year helps his numbers with the dealer.
If you are buying a boat that still has warranty (Legend has 3 yr and I usually get 5 with Mercury) you will want to purchase thru a dealer. Having a good dealer that will work for you if you need to make warranty repairs is priceless. A dealer that sells 100+ units per year has a lot more clout with the factories than an individual that buys a few new boats in their lifetime.
Check out www.sartinmarine.com or call Billy at 903-383-7726. He has several boats to choose from and gets new listings weekly.

Not sure where you are located, but I would contact Mike Kernan. Mike buys good used bass boats and goes through them and makes them basically as good as new then resales them. I would def touch base with Mike, the boats he sells are really top notch.

Most used boats at a dealer are kept outside without covers in alot of cases. They are exposed to rain and the elements.
Try to find one that has been stored inside.

Good point there. Something else to consider. I looked at a boat at Plano Marine one time and rats had started a family under the console.

Certainly not trying to tell you how to run your business but you would be much better off if you hired a credit repair company and got your credit score up over 700 before you bought either one.

Other expenses to consider are:

Boat Storage - a decent storage facility is $150-$200 a month
Tow Vehicle - do you have an adequate one now?
Boat Insurance - depending on the boat, this will be $50-$100 a month

If your debt to income ratio is too high, you won't be able to qualify for the home loan. Like some have said here there are some advantages to buying from a reputable dealer. If you are patient and know what to look for you can find a killer deal on a used boat.

Last year Schlumberger in Houston laid off over 700 folks in one day. Many of those folks owned boats and most of them got rid of them fast. It is bad that anyone loses their job but this is the type of situation where you can get a great deal on a nice boat.

Things to consider.

Not what you want to hear but the first thing I would do is repair your credit. At age 24 with poor credit to think about spending 25k for a boat just doesn't make sense. Take your down payment and begin to get your cc's paid off. Once you do that vow to never spend another penny in interest ever!! You are only compounding your problem. yeah I know prolly falling on deaf ears but my .02

Whether anyone listens or not, it's still good advice, soonerjake I sure wish I had fixed mine when I was in my mid 20's instead of waiting till I was in my early 30's. Now I have great credit, but don't want a note I've looked at boats till I'm cross eyed, yet still haven't pulled the trigger

There's not a boat out there that's worth having a loan on.....unless you like throwing money away or you're wealthy. If you don't mind, it don't matter.

My only .02 is to find the best interest rate.. that 25k boat with a semi high interest rate will turn into a 50k boat quick..

Despite his questionable choice in educational institutions , Tom's words are very wise.

Buy a boat you can pay cash for, take care of it, save up some more money sale it and upgrade. Or don't sale it and either way enjoy not making a boat payment every month. Its probably harder to have fun fishing if you are thinking about that monthly payment and the debt hanging over your head.

Agree 100%, like in my earlier post go with an aluminum boat that will be a later model that you can pay cash for, save up for a couple of years and upgrade. You won't have to pay high interest payments and eventually you'll be able to get your dream boat.

Mike is about the only "individual" I'd buy a used boat from. Unless you know the guy personally and know he takes care of his stuff.

Other than him, a dealer is your best bet for a used boat. They can usually get you better financing, and they have normally done all the checks on the boat and motor.