| Title: | Powerboats |
| Notice: | Introductions 2 /Classifieds 3 / '97 Ski Season 1267 |
| Moderator: | KWLITY::SUTER |
| Created: | Thu May 12 1988 |
| Last Modified: | Wed Jun 04 1997 |
| Last Successful Update: | Fri Jun 06 1997 |
| Number of topics: | 1275 |
| Total number of notes: | 18109 |
Hi,
I have been following this note file since I came to DEC in 1987 and
I've always dreamed of buying my boat one day, well this is the year. I
am in market for a used boat preferably 17 ft. to 18 ft. bow rider with
tralier in very nice condition. Well my problem is finding the right
bank to lend the money out, I am looking around for a good rate and
if anybody has any ideas let me know. I went through the sailing
note file but that information was about 3 years old. I am in need for
some great financing any help would be great.
thanks,
Chuck
| T.R | Title | User | Personal Name | Date | Lines |
|---|---|---|---|---|---|
| 793.1 | a semantic issue.. | HYEND::J_BORZUMATO | Thu Feb 14 1991 09:14 | 23 | |
I'll try to give you some info.
You want a boat loan. This has a specific meaning, as i found
out.
At times, "Boat Loan" and "Ships Mortgage" are used interchangeably
by a lot of people.
Most of the Finance Co's that advertise, that they will make
boat loans, mean ships mortgage.
They also, have minimums on the amount of funds they will loan,
usually about 25K, they also want the boat documented, to insure
clear and unencumbered title, and on and on.
The boat you have in mind, would not meet the qualifications
for documentation, i doubt the loan on it would come to
25K after 20% down.
Maybe the dealers might have some attractive packages.
Hope this helps??
JIm.
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| 793.2 | Boat Financing Rates | GOLF::WILSON | Go Patriots! | Thu Feb 14 1991 11:05 | 15 |
Chuck,
Take a look at note 230, there's a bit of info in there but it's
kind of outdated.
A perfect opportunity to talk with several boat finance companies
is at the boat show. You're in luck, because the New England
Boat Show at the Bayside Expo Center starts on Saturday. There's
usually at least a half dozen banks/finance companies there. They'll
quote rates, take applications, etc...
Another option if you're a homeowner is a home equity loan. The
rates are generally better and it's tax deductible.
Rick
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