what do you guys pay

[brandon32689]

Just wondering, what you guys pay a month for your boat if you have it financed, I am really wanting a speedster or something simular, small fast fun boat. not sure i should get me a 2 stroke and buy it cash for about 4k or so or if i should look at 4 strokes and finance something, dont want to pay a arm and leg a month, i do have really good credit so should not have a problem getting something, but i am still unsure.

 

[LouDoo]

I believe the going rate is about 4 to 4-1/2%. I'm going to give you some fatherly advice. Save financing for things need, not things you want. Like houses and cars. Besides I know that you can work on 2-strokes yourself, 4-strokes are a lot more complicated. If it's a toy buy what you can afford.

Lou

 

[thor7000]

I believe the going rate is about 4 to 4-1/2%. I'm going to give you some fatherly advice. Save financing for things need, not things you want. Like houses and cars. Besides I know that you can work on 2-strokes yourself, 4-strokes are a lot more complicated. If it's a toy buy what you can afford.

Lou

Have to agree with Lou somewhat......but small loans under $10K are really good for establishing a good credit history for when you do want to do the bigger purchase such as a house or a car.

 

[RFoster130]

My buddy got a boat loan on a pair of skis. I think he paid like 18,000 and they did it for 15 years. His payments are like 175 a month. The nice thing about boats is they will make longer loans.

 

[thor7000]

My buddy got a boat loan on a pair of skis. I think he paid like 18,000 and they did it for 15 years. His payments are like 175 a month. The nice thing about boats is they will make longer loans.

wouldn't suggest you do that....you'll be paying interest forever...lol....my rule of thumb is if your gonna borrow for a toy, not more then $10K and try to have a max 3 year term...any amount above and beyond $10K you pay out of your own pocket

 

[brandon32689]

Yeah I'm not set on anything yet just doing some thinking right now, I've down the house thing already and my truck is just 2 years old and wifes jeep is paid off. I'm just going to think on out and do some looking i.keep finding good deals, but I don't know if I should go two stroke or 4 and iff I do decide to finance won't be more than 10 k

 

[seadooguynj]

I got a 12 year loan through US Bank back in May 2009. Rate is 7.9 (I think) this was back when rates were still high and banks gave loans, not like the economy we have now. The payment is like $130 a month so I send them at least $200 and at that rate it will be paid off in less than five years (I have put some extra cash towards the principal when I can) and at a hell of a savings on the interest.

This was for a 2009 Challenger 180 255 HP w/out the tower (including tower) and I put up 15k for the down payment.

 

[Seadoobuddy]

My buddy got a boat loan on a pair of skis. I think he paid like 18,000 and they did it for 15 years. His payments are like 175 a month. The nice thing about boats is they will make longer loans.

Rich - your buddy will be paying $31,500 for 18K worth of skis