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View Full Version : new vs. used financing



bryanpin
08-02-2005, 01:18 PM
wondering what kind of terms you can get with a used boat and if the price difference is worth the extra use. having trouble deciding what to do. buy a good deal now and have to put it up in a month or so ro wait til the boat show, probably about the same deal. or there's always trying to buy used.

Buttafewcoe
08-03-2005, 07:32 AM
There will possibly be a higher interest rate on a used boat vs. a new one. I f you have a good relationship with your bank, you may work out some creative financing like home equity or something. Also, I don't think you can get a long term loan on a used boat like you can a new one to keep the payments down. But I have been wrong B4. At any rate, good luck and hope to see you out on the water:p

smokedog2
08-03-2005, 08:57 AM
Boat Show, or just before

Point spread is about 1-2 ($500-1,000/year). If you keep it and finance 10 years that sure cuts the spread. I'm paying 6.1% - new bought in Jan. 05

SD2

Oh, expect prices to go up 6-8% next year. That will hurt.

Buttafewcoe
08-03-2005, 02:12 PM
4.99% bought in August of 2004 (at a boat show, of course:p )