getting in the way of what?

getting in the way of what??

Good reply "Rodbender"!

I lot of guy's here "think" they know it all!

There is an article in this months issue of Lonestar Outdoor News. I didn't read the article in full, but just skimmed here and there. So I don't have anything solid to add here other than you may want to go grab that issue (free). There may have been a listing of banks that are doing this kind of business at this time. Worth a look.

Good luck. Hope you find your loan.

First off in response to the original question, give the Credit Union of Texas a call. The offered to go 10 years on a 2003 boat if I wanted to, I didnt string it out that long but they would have done it.

There is plenty of money being loaned for rec vehicles, your just going to need to get it from a credit union. The CU's are handing money out like hot cakes right now! It took me 30 minutes to get approved, and then 3 days later I closed and picked up the boat. I paid 10% down and covered the TT&L in cash. Just FYI it doesnt take anything even close to a 700 let alone a 720 to get financed, my bank told me as long as it was over 650 it wouldnt be a problem. My statements are coming from my own personal experience 3 months ago, I am not telling you something I read in a book or a buddy told me he heard from a buddy...

Fishmedic,I think you just found it, courtesy buda13.

+1

I would also recommend Texans CU.

Hey, Fish Medic:
Your response to Red Ranger was what prompted my suggesting that you may have had a rather aggressive attitude when talking with the different financial institutions. When granting loans, the borrowers attitude is a big part of the qualification process. Maybe it shouldn't be but it is.
A problem with the written word is the lack of inflection. This leaves everything we write open to a myriad of interpretations.
I apologize if I offended you by misinterpreting your post.
Remember that a "Good Deal" is getting what you want for what you are willing to pay. How you pay is your business.
Good luck and welcome to "The Forum".
J.B.

Unfortunately in today's "buy now pay later" society the term "afford" can be taken in many different ways. I can afford a $5k TV if I buy it from a place that lets me pay it out over 3yrs at 10% interest, but is that the smart thing to do. Banks handing out money to people who really counldn't afford to pay it is a huge contributing factor to our economic downfall right now!
IMO that is probably why people have so many heartfelt opinions on this post.
I tend to lean toward 361v's comment in regards that for anything that you buy that starts to depreciate the moment it leaves the "buying place" is an investment that needs to paid off quickly.
I still have not been able to figure out the guys who are able to show up in a new boat every 1-2 years, unless they are putting a whole lot of money down at the time of purchase in order to cover the depreciation value when they want to trade it in, in 15 months. Still it doesn't make sense because that money is gone and you must do it over again with a new boat??

I would try a local credit union to answer your original question, Medic. I am sorry if I have said anything that offended anyone!

Medic - I know there are several bankers on here all the time. If you would post the information requested about the boat and what kind of terms you are looking for, you might get a response from one of them.

+1 on Resource One.

I think the issue is not if one can afford a boat or not. If one chooses to finance for long terms then be prepared for the unforeseen.

If your boat is financed for 15 years. 5 years into it your wife gets knocked up and has 8 kids. On the same day you got laid off from work. Now you now find yourself in position of needing to sell the boat. You probably won't be able to because you'd be way upside down. Hence, the reason for not financing beyond 5 or so years. If you have a stack of money hidden in your mattress and you could pay off the loan, I'd say go for it.

I subscribe to this theory as well but that's just me. I hate to finance anything so I buy used and finance short term.

I recently did a 2006 Skeeter 20i for $30,000, no down at Bank of the West. Wanted to do 3 years, 5 was the minimum they would go. I'll double up and pay off in 3. Something else to consider on a very long term boat loan would be your family situatio. Divorce,new child,job loss and health issues. What you are able to pay today can be subject to some of these things. I highly reccomend a 2 year old boat in great condition to a brand new one. You have lots to consider. Good luck.

Yeah, one day I want to pay off a 65 foot Bertram in 60 months...sure..

No way....I'll hang on to my cash and use the bank's money.

BTW, welcome to TFF, fishmedic.