Boat loan?

**Zboner** · 07-27-2010, 07:05 AM

anyone on here have a boat loan? if she what are some terms and conditions of a typical loan. or should i just go and try and get a personal loan from my bank ? I want to spend about 20k on a boat with 5k down on it. let me know your thoughts.

**JustgoFast** · 07-27-2010, 09:14 AM

Well not sure about all the terms and conditions right off hand but I believe similair to any other loan and depends on were you get it. We spent 31k payments $266 mo for 12 yrs and went thru the the dealers loan department. We didn't put anything down at all and we'll end up paying it off later on just so we don't have a payment. I'd check with your bank and the dealers loan department and go from there and you may decide not to put anything down. Not sure if this helps you any but all depends on size of payment your looking for.

**iam_dale** · 07-27-2010, 09:14 AM

they're typically a recreational vehicle and you can get longer term loans if you want and if you have good credit. I sold my boat a few years ago, but originally it was a 10 year loan on $15k.

dale

**whitelightnin99** · 07-27-2010, 11:21 AM

just bought a little 35 hp jon boat and got a personal loan through the bank. Nowhere near as expensive as the one youre looking at but it is an option. Credit union might have better rates

**Zboner** · 07-27-2010, 12:19 PM

true never thought about going through my credit union.

**JustgoFast** · 07-28-2010, 08:24 AM

Also not sure what size of boat your buying but make sure the vehicle you have will tow the boat and trailer weight combined. I see some big boats being pulled by a small vehicle were I live.

**Grimpala** · 07-28-2010, 09:50 AM

Saw a guy on sunday pulling a 25 foot I/O boat with a jeep wrangler. The wrangler was squatted and did not look safe at all.

Then this one time at fish camp I had to pull a guy off the ramp because his truck wouldn't pull his boat up the incline.

Trailer brakes are a plus too.

**StuntmanMike** · 07-28-2010, 01:50 PM

Get a used one!!

Boats are one of those things that people buy because they think they're cool, then only use like 3 times before deciding that trailering and maintaining them are too much of a PITA.

Their loss = your gain!!

**Tobynine9** · 07-28-2010, 01:54 PM

OR... save your bones and pay cash.

**DrMilhouse** · 07-28-2010, 02:11 PM

I've never owned a boat. I hear there are two really awesome days for a person that buys a boat - The day that they purchase it, and the day that they sell it.

**Zboner** · 07-29-2010, 04:23 AM

im buying a wakeboard boat, and my sierra can pull it as well. Im also buying used

**whitelightnin99** · 07-29-2010, 06:12 AM

Originally Posted by DrMilhouse

I've never owned a boat. I hear there are two really awesome days for a person that buys a boat - The day that they purchase it, and the day that they sell it.

haha, ive heard the same thing. Thats why i bought a cheap 15' jon boat to start out with a month ago, my first boat ever. I paid $1700 for it with a galvanized trailer and the 35 hp motor has been all rebuilt, runs great. Didnt want to go head first into a huge expense. This way i can always get my money back absolutely for sure if and when i get tired of it, b/c i go through bikes, cars, trucks etc pretty quick. (my wife says lucky for her i dont go through women that way, lol) I definitely agree buy used btw

**JustgoFast** · 07-29-2010, 10:25 AM

Buying used make sure you go for a good test ride. Check out the hour meter if it has one if not be hesitant. Boat also stands for "Break Out Another Thousand".

**Smkn_TA** · 07-29-2010, 11:23 AM

22' open bow with the bow fill in cushions and a wake board towing rack with speakers everywhere is my dream boat.

First...I need to learn to swim.

**Zboner** · 08-01-2010, 10:33 AM

Originally Posted by Smkn_TA

22' open bow with the bow fill in cushions and a wake board towing rack with speakers everywhere is my dream boat.

First...I need to learn to swim.

thats exactly what im looking for

**JustgoFast** · 08-02-2010, 08:24 AM

That would be a good set up if you can find one in decent shape. I have a 21' Ebbtide open bow, no wake board rack though.

**Zboner** · 08-03-2010, 06:49 AM

yea i have been looking and im getting the feeling that im going to have to do some travel to find one

**JustgoFast** · 08-03-2010, 08:49 AM

Oh there out there and probably more in some places than others. I looked for a few months before we settled on the one we have.

**bigrondownhiller** · 08-03-2010, 02:45 PM

Grab a fist full of cash. Then go down to nearest place you can use the boat. Throw the money in the water and walk away. If you can do this you are ready for boat ownership.

**Zboner** · 08-04-2010, 05:21 AM

Originally Posted by bigrondownhiller

Grab a fist full of cash. Then go down to nearest place you can use the boat. Throw the money in the water and walk away. If you can do this you are ready for boat ownership.

currently im doing that every friday and saturday night at the bar, my monthy bar bill is roughly $600 dollars time to spend it on something i can use i guess.