what type of loan?? - SailNet Community
LinkBack Thread Tools
post #1 of 3 Old 02-10-2004 Thread Starter
Senior Member
Join Date: May 2002
Posts: 216
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 15
what type of loan??

the bug has bitten me again. With a friend of mine selling his boat for a larger one, I have the option to purchase his old boat (great shape and what I''m looking for in reagrds to stepping up from my 22 footer to his 27 footer)

My question is most boat loans from marine lenders are for a min. 20,000 but I can purchase this boat for much less than that. Does your average bank have these type of loans (like a used car loan??)

Also, do I look to sell my boat asap even before any deal is done??? I don''t want to be stuck w/o a boat come springtime.

Just some thoughts???
maestro is offline  
Quote Quick Reply Share with Facebook
Sponsored Links
post #2 of 3 Old 02-10-2004
Junior Member
Join Date: Feb 2002
Posts: 28
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
what type of loan??

For a loan under $20K, you may want to consider a simple signature loan--there are some very competitive rates out there.

Some marine lenders go down to $15K...Essex comes to mind, but I''m sure there are others.

Fair winds,
mabwjm is offline  
Quote Quick Reply Share with Facebook
post #3 of 3 Old 02-11-2004
Junior Member
Join Date: Nov 2001
Posts: 8
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
what type of loan??

If you have a good credit score, you can probably get a card with an initial offer of a pretty low fixed rate-- my boat is being paid off on a Chase card at 3.99 fixed for the life of the loan. Since it''s not secured, I can''t take the second-home interest deduction, but it''s not enough to matter anyway.
ha.taylor is offline  
Quote Quick Reply Share with Facebook

Quick Reply

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now

In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.

User Name:
Please enter a password for your user account. Note that passwords are case-sensitive.


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:


Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page

Similar Threads
Thread Thread Starter Forum Replies Last Post
which type dinghy is the better ndsailor Gear & Maintenance 33 12-17-2006 12:26 PM
Best Hull type? Vastbinder General Discussion (sailing related) 24 10-21-2006 12:14 AM
sail type? berwick Gear & Maintenance 4 07-13-2004 04:12 AM
"I" type and "V" type ndsailor Gear & Maintenance 0 11-17-2003 09:02 AM
What type depth finder do you have? gwp Gear & Maintenance 11 10-25-2003 11:04 AM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome