- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Boat Loan
Posted on 7/7/14 at 7:49 am
Posted on 7/7/14 at 7:49 am
How hard is it these days to get a boat loan thru a bank? I have no debt outside a house note. All student loans and vehicle paid off. One credit card has a small balance but other than that Im not paying out anything. Boat is 12 years old if that makes a difference.
This post was edited on 7/7/14 at 7:50 am
9
Posted on 7/7/14 at 7:56 am to 4WHLN
Taking a loan out for a 12 year old boat doesn't make much sense to me. If you need a loan to pay for a luxury, non-essential item, it better be a little more reliable and new. How do you plan to pay for all the repairs
Posted on 7/7/14 at 8:04 am to DaBeerz
With good credit score you shouldnt have a problem.
Posted on 7/7/14 at 8:04 am to DaBeerz
quote:
Taking a loan out for a 12 year old boat doesn't make much sense to me. If you need a loan to pay for a luxury, non-essential item, it better be a little more reliable and new. How do you plan to pay for all the repairs
especially considering there is a credit card balance that can't be paid off
I just cannot imagine how anyone would ever carry any balance on a credit card.
Posted on 7/7/14 at 8:05 am to 4WHLN
With good credit and other assets at hand, I'm sure your bank will loan you money as long as it's not grossly above what you can afford.
Posted on 7/7/14 at 8:12 am to DaBeerz
I was thinking of taking the loan instead of using some of my savings. Ive never owned a boat personally but have many friends that do so Im fully aware of the maintenance and whatnot that comes with owning one. I have to start somewhere and this particular boat retains its value very well from the research I have been doing lately. I do work on the side of my normal job so having a little extra money usually isn't an issue for repairs and such.
Posted on 7/7/14 at 8:14 am to C
quote:
With good credit and other assets at hand, I'm sure your bank will loan you money as long as it's not grossly above what you can afford.
The boat is 20k. I have that in savings but don't want to use that for a boat. Trying to be responsible with my money. I have 12k in hand now saved up for this but was going to finance the rest. I know there is tax title and licence to add as well. Im just trying to see what the best options for me.
This post was edited on 7/7/14 at 8:17 am
Posted on 7/7/14 at 8:17 am to 4WHLN
quote:How old is the motor?
The boat is 20k.
Posted on 7/7/14 at 8:31 am to 4WHLN
quote:
The boat is 20k. I have that in savings but don't want to use that for a boat. Trying to be responsible with my money. I have 12k in hand now saved up for this but was going to finance the rest. I know there is tax title and licence to add as well. Im just trying to see what the best options for me.
Save the 20K then buy the boat. Why do you want to go into debt for 8K?
Posted on 7/7/14 at 9:00 am to 4WHLN
are you a member of a credit union?
that's where the best rates on boats will be
that's where the best rates on boats will be
Posted on 7/7/14 at 9:02 am to 4WHLN
Post the make model and year of the boat and I'll tell you if this is a good idea.
Posted on 7/7/14 at 9:25 am to Ole War Skule
quote:
I just cannot imagine how anyone would ever carry any balance on a credit card.
0% APR is a fine reason to carry a balance. Other than that, probably not.
Posted on 7/7/14 at 10:18 am to Motorboat
quote:
Post the make model and year of the boat and I'll tell you if this is a good idea.
Donzi 22ZX
There are only a handful of this particular model for sale and they are all within this price range.
Boat has 400 hrs on it. The bravo drive was rebuilt 2 years ago. The motor is fine with great compression and all hoses/belts look good. Im pretty anal about maintenance and cleanliness and this guy is worse than me so I feel good about the boat. He just bought another boat (bigger) so he has no use for this one.
ETA: I know its an expensive boat to run and maintain, but I like speed and most of my friends have fishing boats weather its bay or offshore. I wanted something different and the Donzi seems to hold its value pretty good.
This post was edited on 7/7/14 at 10:30 am
Posted on 7/7/14 at 10:20 am to Double Oh
quote:
Why do you want to go into debt for 8K?
I agree to wait and save and had plans of buying a boat at the end of the year when I had more saved up but this kinda fell into my lap. Thats why I was asking about a small bank loan.
Posted on 7/7/14 at 10:36 am to 4WHLN
dont you not pay taxes on a used vessel, and the only license is for the trailer, correct?
Posted on 7/7/14 at 10:45 am to Happygilmore
If the boat is used and purchasing from a private seller then no, you dont have to pay taxes as long as the prior owner can provide proof of paying taxes. If you buy from a dealer, then yes you have to pay. As for the trailer, Im not sure on that part
Posted on 7/7/14 at 11:36 am to 4WHLN
Dave Ramsey would have a field day with this one...you better be using that boat DAILY to haul in shrimp by the ton and getting top prices....
(remember a boater's 2 best days in life....the day they bought it and the day they sold it)
seriously, if you live on the water and will be using it all the time....maybe...
(remember a boater's 2 best days in life....the day they bought it and the day they sold it)
seriously, if you live on the water and will be using it all the time....maybe...
This post was edited on 7/7/14 at 11:42 am
Posted on 7/7/14 at 11:40 am to 4WHLN
Buying a boat will probably be the worst investment youll ever make.
Posted on 7/7/14 at 11:41 am to stonerolledaway
quote:I really hope all Dave Ramsey followers live to be at least 85+ with the physical capabilities of a 40 year old, if not they wasted the shite out of their lives
Dave Ramsey
Posted on 7/7/14 at 11:51 am to BAMAisDIESEL09
quote:
Buying a boat will probably be the worst investment youll ever make.
disagree. Buying a Donzi might be though.
Page 1 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News