Boat loan question

  • like_mike-ike
    Burnsville, Minnesota
    Posts: 75
    June 14, 2010 at 2:36 pm #1267983

    How do you go about getting a loan to buy a boat from a private seller? Every bank I call will only go 3-4 years on a 2002. That makes the payments way too high for me.

    ted-merdan
    Posts: 1036
    June 14, 2010 at 2:40 pm #879722

    Contact member Bob Bowman from the website here – financed my boat through him and it could not have gone any smoother!!!

    -ted

    ScottPugh
    Rogers / Grand Rapids
    Posts: 561
    June 14, 2010 at 2:59 pm #879739

    Quote:

    Contact member Bob Bowman from the website here – financed my boat through him and it could not have gone any smoother!!!

    -ted

    Only way to go…

    targaman
    Inactive
    Wilton, WI
    Posts: 2759
    June 14, 2010 at 3:54 pm #879777

    I’m saving up enough to put half of the price of the rig down, therefore I will not have to worry about a big payment. Only way to go if you ask me. Extended loan terms like ten years are not a wise decision.

    Dave Ansell
    Rushford, MN
    Posts: 1572
    June 14, 2010 at 4:01 pm #879782

    Just a thought, I financed my last boat with a loan against my truck. The truck was paid for and the bank game me a MUCH better rate against the truck and I could go longer term than borrowing against the used boat. I suppose you could always think home equity too but it helps to have a good banker to have some “creative finance” conversations with.

    Good luck.
    Dave

    kooty
    Keymaster
    1 hour 15 mins to the Pond
    Posts: 18101
    June 14, 2010 at 4:27 pm #879797

    Quote:

    Contact member Bob Bowman from the website here – financed my boat through him and it could not have gone any smoother!!!

    -ted

    I can’t recommend Bob enough either. He is my go to guy for all things financing. As a matter of fact, I just left his office. I think he needs something to work on this afternoon.

    robstenger
    Northern Twin Cities, MN
    Posts: 11374
    June 14, 2010 at 4:44 pm #879807

    Quote:

    Quote:

    Contact member Bob Bowman from the website here – financed my boat through him and it could not have gone any smoother!!!

    -ted

    Only way to go…

    x3

    Brad Juaire
    Maple Grove, MN
    Posts: 6101
    June 14, 2010 at 5:49 pm #879843

    Quote:

    Contact member Bob Bowman from the website here – financed my boat through him and it could not have gone any smoother!!!

    -ted

    X 2!

    Bob Bowman
    MN
    Posts: 3544
    June 14, 2010 at 6:54 pm #879878

    Thanks for the kind words guys, just happy to help

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