SailNet Community - View Single Post - Boat Owner Financing?
View Single Post
  #8  
Old 12-12-2008
Sailormann Sailormann is offline
Here .. Pull this
 
Join Date: Jan 2007
Posts: 2,031
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 8
Sailormann will become famous soon enough
First - if you can't afford to pay cash for it - you can't afford the boat. I know that there are hundreds of thousands of people out there who buy on credit but that's pretty well over now folks.

Quote:
I have found some amenable actually. I checked through a broker for a thirty thousand dollar boat and the broker said the owner would ok with a 50% down payment. Another owner wanted a 20% downpayment. Its a buyers market and they can only say no.
This tells me that the first guy is willing to take 50% less than asking and if you actually do come across with anything over that he's thinking it's gravy. Go back and tell him that you'll give him the 50% cash right now.

But back to my original point. Buy what you can afford. It's going to be a long time before your boat is worth anywhere near what you paid for it.

Good Luck
Reply With Quote Share with Facebook