Boat financing

I had great experiences with Endura Financial – They merged with Connexus and I have had 2 loans be done in hours with them. Very impressed. Great rates.

Example – I have a 700+ Credit score but my LandCruiser was a 2008 with 150k miles and they let me get out to 72months. Try that anywhere else.

Ralph Wiggum wrote:

<div class=”d4p-bbt-quote-title”>crappie55369 wrote:</div>
I would consider myself somewhat cheap and my grandpa would say the same but in todays world of new cars/trucks/boats/fish houses costing easily north of 30k what is a guy supposed to do?

Agreed. The wife and I are pretty thrifty, and we both make good money, but in this day and age, paying cash for some of the bigger things is pretty difficult. There is a difference between living paycheck-to-paycheck and financing a toy and living comfortably and financing a toy. I live comfortably, have a great home, and am smartly saving/investing for the future, yet I still don’t have $50K+ to drop on a boat. Financing isn’t an evil thing if you’re smart about it.

(sorry to derail)

I agree Ryan. We also enjoy a comfortable life and put two kids through college with no dept. Of the six boats we’ve owned over the years only the pontoon was new. All four fishing boats were used and all six we put at least 50% down, and never had a loan over four years.

Let’s say a new boat costs 50k, that 50K would earn more money by leaving it invested as opposed to a fairly minimal amount spent on interest on a loan.

its all about opportunity cost.

hnd wrote:

its all about opportunity cost.

I just don’t see opportunity cost when it comes to toys. You don’t have to buy them, so NOT buying them at a discount costs nothing because you won’t have to buy later at a higher price.

I get what you’re saying, but I’ve just seen so many guys get overextended with toys that it’s sadly become almost normal. I used to work at a company with a lot of manufacturing employees and Friday’s the parking lot was a virtual safari tour of highly-financed toys. Campers, RVs, sleds, ATVs, Harleys, etc, etc, etc. Any time we hit a rough patch and overtime was cut, the worrying about making toy payments started the next day.

Grouse