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If you document the boat, you can often qualify for a marine mortgage, which is very different from a personal loan. The interest rates are usually better and the terms are usually longer. However, getting a marine mortgage on an 26 year old boat for that much may be a problem.
You need to call a few companies about getting financing... Essex Credit and BoatUS both have marine mortgages IIRC.
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Sailingdog
Telstar 28
New England
You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.
—Cpt. Mal Reynolds, Serenity (edited)
If you're new to the Sailnet Forums... please read this POST.
Still—DON'T READ THAT POST AGAIN.
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