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  1. #11
    Join Date
    May 2010
    Location
    Salt Lake City, Utah
    Posts
    395

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    Quote Originally Posted by kaneboats View Post
    Think I'll run out and buy a couple of Jeeps today. Good for you! I once refinanced a (paid off) truck to pay for a boat. Way cheaper than a boat loan.
    What are boat loans at now anyway? It seams like at the boat show last year they were offering like 20 year loans at like 10 percent! I'm sure that isn't exactly what they were but it seamed like it was some crazy high percentage rate.
    Scott
    2007 Mobius LSV with a lot of great upgrades and mods

  2. #12
    Join Date
    Jul 2008
    Location
    Snellville, GA & Lake Sinclair
    Posts
    7,079

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    anything over $50k can go to 20yr terms and Atlanta Marine was showing 4.99% rates at the show this weekend.
    Drew
    New ride: 2012 Mojo
    Old ride: 2008 OBV

  3. #13
    Join Date
    Jun 2013
    Location
    Lake Orion, MI
    Posts
    429

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    Quote Originally Posted by wolfeman131 View Post
    anything over $50k can go to 20yr terms and Atlanta Marine was showing 4.99% rates at the show this weekend.
    20 years?!?!?!?!?! No wonder people can kind of afford $100k+ boats...
    2006 Mobius LSV
    Previous ride - 2000 Supra Launch

  4. #14
    Join Date
    Mar 2003
    Location
    s.e. washington state
    Posts
    2,114

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    The high end market would be doomed if not for the long term loans. I think it moved the price of the boats up as it makes everything "look" more affordable and that is the selling point. It's not realistic and somewhere down the road someone is dishing off their boat at a price to pay off the loan but way over Blue Book. If you want something bad enough, you'll figure out a way to get it. At the same time, boat builders need to know the violatility of the market when the economy has any down turn with the prices that high.
    1998 Mobius
    310 HP PCM

  5. #15
    Join Date
    Jun 2013
    Location
    Naperville, IL || North Scott Lake, MI
    Posts
    709

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    I can remember getting a boat loan for 12 yrs and I thought that sounded like an eternity!!! But as it turned out, I kept the boat for about 11 yrs and still had quite a bit of equity (20-25%) when I traded on my OBV last year. I think the big thing is that boats cannot be used nearly as much as a car (at least not in the midwest) and if well taken care of during ownership (obviously the big "if" in this equation) can still retain much of its value near the end of a long-term loan.

    Having said all that I'm not sure that I could take that boat loan at 20yrs when my home mortgage is only for 15yrs!!
    Mike

    2013 Outback V
    2003 SeaRay 182 -- gone but not forgotten...

  6. #16
    Join Date
    Jan 2008
    Location
    Tallahassee, FL
    Posts
    11,346

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    Yup, a 10 year old boat in the midwest looks like a 3-4 year old boat in FL, generally speaking. We get a few more hours down here and a little more sun. I've always thought you could make money taking trucks north and bringing boats back.
    My Mom said I'm not allowed to get wet!
    2008 LSV
    2000 Outback LS (sold)
    Exile Tunes
    PWI
    LLTR!!!!!!!!



  7. #17
    Join Date
    Mar 2010
    Location
    Arkansas
    Posts
    2,525

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    Congrats. I bet that feels great.
    2006 Supra 24SSV

  8. #18
    Join Date
    Feb 2008
    Location
    Arvada , Colorado
    Posts
    267

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    Yes it is a good feeling to have it paid for. My last one didn't take too long to pay for and I kept it 10 yrs. Have had this one 6 yrs now , probably will be my last one. Either will give it up in a few years or sell then buy a pontoon ,LOL..
    Nice having a $300+ raise.
    Jim
    05 Mobius lsv , ballast system , stereo, etc..

  9. #19
    Join Date
    Jul 2012
    Location
    Cumming Ga
    Posts
    314

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    Buy cars from the south and boats from the north.

  10. #20
    Join Date
    Mar 2003
    Location
    s.e. washington state
    Posts
    2,114

    Default

    ...............and buy when the economy is tanking. 2009-2010 were excellent years for buying.
    1998 Mobius
    310 HP PCM

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