Looking for information on a boat loan

There are many guys here that worked their way up into their currant boat. Personally i’m on my 7th boat. First few were 100% financed. Then it gets to the point you sell one toss a few more bucks into the pot and buy the next. At some point you are financing out of your pocket not the banks. There are many people who flip & build their own houses with the idea of paying cash for that last house. It can be done with houses, boats, guns, rods & reels. It’s all the same principal just with bigger dollar amounts. Some people prefer the long slow route to end up with paid for toys, others want the immediate buy it, finance it route. No wrong way, no right way. It’s your money do it your way.

For those of you who don’t finance your boats, are you able to negotiate a significantly lower price without financing?

Just started our debt free journey, so I’m only dreaming at this point of walking into a dealership with a fat stack of cash.

If you are paying cash it will at times cost you more NOT to finance as far as the purchase price goes. Dealerships sometimes BUY financing that they make money on for every boat they can finance. Best thing is not to tip your hand until towards the end that you are using cash. But the best, best deal might be buying a pro staff boat right as their payment is due.

Dutchboy wrote:

If you are paying cash it will at times cost you more NOT to finance as far as the purchase price goes. Dealerships sometimes BUY financing that they make money on for every boat they can finance. Best thing is not to tip your hand until towards the end that you are using cash. But the best, best deal might be buying a pro staff boat right as their payment is due.

Thanks dutchboy for the advice.

jake47 wrote:

For those of you who don’t finance your boats, are you able to negotiate a significantly lower price without financing?

Just started our debt free journey, so I’m only dreaming at this point of walking into a dealership with a fat stack of cash.

As said, typically no…offering cash has no extra pull these days. Many dealerships WANT the financing. I’d agree in that to tell them you’ll discuss payment options AFTER you’ve negotiated a price.

Don’t forget your neighborhood loan shark as a option.

As said dealerships want the financing and you are the deadbeat if you pay your credit card bill fully and on time-Stuff is upside down.

Good info. Thanks all!

Um okay. Dude the post is from three years ago.

Well I guess I should have bought back in 2018. That boat now is way steeper in price and I’m still fishing my old boat.

But then again, I don’t have a wife anymore so maybe I’m glad I didn’t buy her a boat

John Rasmussen wrote:

Um okay. Dude the post is from three years ago.

I was just thinking this guy is worse then the extended warranty people

Bearcat89 wrote:

<div class=”d4p-bbt-quote-title”>John Rasmussen wrote:</div>
Um okay. Dude the post is from three years ago.

I was just thinking this guy is worse then the extended warranty people

What about worse than the YouTube posters?

Bearcat89 wrote:

<div class=”d4p-bbt-quote-title”>John Rasmussen wrote:</div>
Um okay. Dude the post is from three years ago.

I was just thinking this guy is worse then the extended warranty people

Bearcat both your replies got an actual LOL out of me.

I don’t think this has been brought up yet. MN residents buying a boat from an individual not a dealer, you do not pay sales tax on the purchase. Saves a lot of money right from the start.

This thread is getting pretty long and I don’t read too fast.
So what boat did you pick up BC89? And how long did you finance it for, a 100 years?

Eelpoutguy wrote:

This thread is getting pretty long and I don’t read too fast.
So what boat did you pick up BC89? And how long did you finance it for, a 100 years?

Last I heard he was looking at that 850 hp job Grouse had. I think the hang up was Bearcat wanted Grouse to toss in a life jacket and you know how Grouse is. If what I heard was correct after the left nut down payment it was $289,000 over 48 years. But the interest rate was under 9 so I’m thinking it will happen.

Dutch I wanted your boat. I just asked for 248 year loan. You said maybe. I have heard nothing. So I saved up like 97 bucks for the down payment. Can we do it now

Bearcat89 wrote:

Dutch I wanted your boat. I just asked for 248 year loan. You said maybe. I have heard nothing. So I saved up like 97 bucks for the down payment. Can we do it now

That boat is gone. But theres a 2016 202 ProV GL that you and the kid would look great in! It’s got a baby 300 hp Merc that will just sip gas. (until you start it)

Pretty cheap $ at my credit union right now for anyone looking.

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